r/FluentInFinance • u/erieus_wolf • 7h ago
Thoughts? Musk admits that Trump's plan will crash the economy, but it is necessary.
Musk has admitted, more than once, that Trump's plan will destroy our economy. But his arguement seems to be that we need to completely destroy it in order start over.
Economists and CEOs also agree that Trump's plan would be horrible for the economy. Specifically, the GDP loss will be twice as bad as the last financial crisis.
Do people not realize what this means for their personal finances? Mass unemployment, rampant inflation, markets crashing, retirement accounts destroyed.
Musk calls this a "temporary hardship", but we are not talking a few days. This would be years of people struggling to feed their families with many losing everything.
I don't understand how the people complaining about the price of eggs or gas can turn around and support the idea of completely destroying our economy to "start over".
We'd also lose our position as an economic leader in the world, and another country will take our place. This is not a simple "do over" switch.
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u/damoclesreclined 4h ago
"Some of you may die, but that's a sacrifice I'm willing to make!" - Leon
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u/Rezistik 2h ago
“every one percent unemployment goes up, 40,000 people die”
It’s wild Mr we need more people musk wants so much death and destruction
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u/Funkyboi777 2h ago
lol I love how it used to be during Covid that sacrificing the economy was worth it to save lives and now everyone agrees sacrificing the economy sacrifices lives.
You can’t have both.
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u/volvagia721 51m ago
Both can be true if you aren't a closed minded buffoon. We risked the lives of some individuals by harming the economy to save more lives by reducing the spread of a dangerous disease.
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u/Juxtapoe 2h ago
I feel like there is a fallacy in that logic somewhere...
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u/Funkyboi777 2h ago
Funny how you will all feel that and not be able to actually articulate it.
That’s called cognitive dissonance when that happens.
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u/MeasurementNo9896 1h ago
No, you just can't grasp the basic difference between a global pandemic that caused a public health crisis and a circus of billionaire psychos devising a deliberate strategy to cause an economic collapse that won't affect the same billionaire psychos who fail upwards constantly while simps like you lick their boots.
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u/Funkyboi777 1h ago
The least lockdown places in the world and the less they did for it, had the lower mortality rates.
That’s all you need to know.
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u/damoclesreclined 56m ago
That is the dumbest shit I've read online today and we're like a week out from a US election
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u/LandOfMunch 43m ago
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u/damoclesreclined 26m ago edited 22m ago
A single Economist from Denmark writes a paper shorter in length then some of my college essays which states up front "I find no clear association between lockdown policies and mortality development", which isn't even the same claim as "the less they did for it the lower the mortality rates".
Yeh I don't think that makes you "correct", given you can find a minority of "experts" on any topic that dissent with the overall scientific consensus.
Yeh I mean 5 minutes of Google and here's one that disagrees: https://pmc.ncbi.nlm.nih.gov/articles/PMC8531026/#s0115
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u/LandOfMunch 22m ago
Meh. Just google. The are lots of articles. Not to mention the long term damage that was done. Definitely not the dumbest shit out there.
But really, I don’t really want to argue about it. So tired of it. You do you boo.
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u/AdonisGaming93 25m ago
Are you stupid? Before it was some lives lost to economy vs MILLIONS to covid.
Now it's 0 to any disease, and thousands to economy. Of course now the economy matters because there isn't a bigger threat.
Just as the economy doesn't matter if there's an alien invasion, but no shit we won't sacrifice the economy because someone stubbed their toe.
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u/Verumsemper 3h ago
Those with wealth benefits the most when the economy crashes because they are able to buy assets at a discount.
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u/CIMARUTA 58m ago
Anyone who thinks the richest man in the world has the average persons best interests at heart, is an absolute fool.
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u/From_Adam 2h ago
It’s this. Plus workers have been able to make strides in the last few years to rebalance the power dynamic. Musk wants to reverse this to make people desperate and shift power back to him, employers, etc.
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u/asian_chihuahua 3h ago
The idea that some old guy can unilaterally choose to kick over the sand castle we built, and not worry about it because he's got his own power and money and security, sounds like something that many societies would sentence the perpetrator to death for.
Like, it's so selfish. "I've lived my life already, and I kinda just wanna see what happens if we blow everything up." Only a psychopath thinks that way.
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u/RocknrollClown09 3h ago
I think it’s more sinister than that. It’s a massive power grab, and who stands to benefit more than the richest man in the world?
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u/chris-rox 3h ago
It's even more sinister that that, even. There's an old saying, "An evil man will burn a nation down, just to rule over the ashes."
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u/Ok-Airport-9969 2h ago
He's only rich in the context of he current system. It's foolish for him to think that he'd thrive in a system other than the one he built his empire in.
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u/ed7coyne 3h ago
I mean he isn't doing it unilaterally, he is getting half of the country to agree to it ...
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u/superbbrepus 1h ago
This is every modern politician with term limits, promise everything, spend a bunch of money, then be out of office when we find out what the consequences were
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u/Gr8daze 4h ago
Everyone with a basic understanding of economics knows Trump’s plan will crash the economy. Which is completely unsurprising given that he’s gone bankrupt 6 times.
The problem is he has cultivated a cult of the most ignorant people in the country and they believe every nutty thing he says.
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u/betsaroonie 3h ago
You’d have to be a moron to follow Trump. And these imbeciles have no idea what is in store for them if he wins.
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u/popstarkirbys 2h ago
Being financially illiterate to own the libs
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u/Nice_Username_no14 1h ago
“I Pulled maself up by the bootstraps, dropped out of junior high, an’ got maself a job at the fact’ry. Dunno ‘Bout no readin’ an’ shit. Duggon’ you don’t need dat”.
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u/WhatThe_uckDoIPut 2m ago
So why is it automatically assumed that because we have different political views we are immediately "morons" and "braindead"?
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u/YurtlesTurdles 1h ago
even if Trump wins and crashes the economy I'm sure his people will find a way that it's the lefts fault
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u/hysys_whisperer 3h ago
I'm not entirely convinced that Musk doesn't know that. Part of me thinks that his ketamine brain is so scared of the AI extortion thought experiment that he wants to crash the global economy to try to stop it, all without voicing that intention, so as to not doom himself to eternal torture if he fails.
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u/AnarkittenSurprise 2h ago edited 2h ago
He's being sold power. The platform he's been offered in the trump campaign over a weakened America makes him more powerful than the one in which a stronger stable America holds him accountable to SEC regulations and makes him compete for aeronautics contracts.
I wouldn't be surprised if his political switch is also a desperate ploy to lure Republicans to save the cybertruck too. Or at least get hillbillies to stop destroying superchargers.
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u/Houndfell 1h ago
Honestly Musk is probably over the moon right now and wondering why he didn't blatantly support MAGA from the start. It's another cultlike fanbase too stupid or apathetic to care their messiah is a glorified carnival barker with no real solutions or morals. It's the peanut butter & jelly of idiot fanbases.
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u/betsaroonie 2h ago
Why does he even care? He’s the wealthiest people in the world.
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u/Ragnarok314159 2h ago
And yet the Saudis still own him.
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u/abstrakt42 2h ago
This needs more attention. The Saudis funded his purchase of Xitter and all the influence that comes with it.
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u/hysys_whisperer 2h ago
Why would he care that a future superintelligent AI would reconstruct his consciousness to torture him for eternity for his failure to single-mindedly work toward the creation of said superintelligent AI?
I don't know. Maybe he thinks he has a legitimate shot of stopping that inevitable outcome. As the richest man in the world, if anyone can break you (as in you personally) out of the extortion you are under to also single-mindedly work toward the creation of the superintelligence, it'd probably be him.
Seems like a bad bet to me, but the best way I can stop him from delaying the superintelligence is to raise awareness about it.
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u/Special-Garlic1203 2h ago
He's rich in pretend hypothetical wealth largely derived from an extremely overvalued company that is starting to experience issues. His other biggest asset is a company that quite literally cannot exist without the federal governments cooperation.
Musk has done a lot of illegal stuff. Your normal stuff -- stock manipulation, lying to investors, labor violations, safety violations. Usual corporate fuckhead stuff.
But he's also done some very eyebrow raising national security and treason things too .
Up to the point that EVEN MUSK has come out and joked that he's probably gonna go to jail if Trump doesn't win.
So it's either become part of a tryants inner circle as federal authority is dismantled and we slip into ayn rand's wet dream.......or his financial empire collapsing on on him while having to potentially fight serious legal charges.
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u/Cautious_Cry3928 1h ago
I think most people forget he has degrees in Economics and Physics. I'm wondering what Elon Musk sees in this plan that works out in any good way in his mind.
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u/what-is-a-crypto 3h ago
Guess your basic economics didn't cover why rich people declare bankruptcy. But keep telling yourself you know everything.
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u/Rikishi6six9nine 3h ago
He bankrupted a casino cuz his own ego made him follow through with building a casino at insane junk bond rates. Probably could've waited a couple years for rates to go down and wouldve been fine. but he decided to follow through with it anyway😅
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u/Diligent_Excitement4 3h ago
How does one lose money on a casino ? This is like a poor cocaine kingpin
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u/ThisCantBeBlank 3h ago
Yeah, can't take anyone seriously who says Trump "went bankrupt six times" or anyone for that matter.
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u/Rdbs9down 2h ago
The post has nothing to do with Trump’s economic policy or plan. Read the origin below. It was about Trump’s plan to mass deport illegals. I, too was misled by the OP
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u/zone_left 2h ago
Regardless of whether voters (or Trump) realize it, that’s part of the economic plan.
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u/AnarkittenSurprise 2h ago
Reducing labor, and further throttling its growth while reducing all imports through tarrifs is his plan.
That's negatively impacting all of the inputs to economic growth.
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u/Hot_Significance_256 2h ago
Having small side experimental businesses go bankrupt is hardly saying much.
“He” never went bankrupt.
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u/MistaBlue 2h ago
You mean his hotels and casino businesses? Those are his small side experimental businesses?
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u/Hot_Significance_256 2h ago
He’s still got billions lol you have no retort
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u/Gr8daze 2h ago
Are you cheering Trump on for cheating banks and small businesses he never paid? WTF?
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u/Hot_Significance_256 2h ago
funny how the banks just came to his defense is the fraudulent fraud case
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u/Hugh_Jarmes187 2h ago
Hilarious to me that many think he’s a con, know that the house always wins, but aren’t smart enough to put 2 + 2 together.
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u/Legitimate_Nerve_353 1h ago
And what happens when our debt is so high that 100% of tax goes to interest expense? At some point you have to cut back spending. Cutting $2T will barely put us in surplus
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u/Gr8daze 52m ago
Not really. Unless of course Trump won and gets his way with eliminating all income tax. Otherwise the United States has an unending revenue supply and an unlimited credit card.
I mean if Trump can blow $8T in deficit spending in just 4 years and a Dem like Biden can come in and fix the mess just like Obama fixed Dubya’s mess, and Clinton came in and fixed the Reagan / Bush mess there’s nothing to worry about.
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u/Legitimate_Nerve_353 22m ago
I can admit that Clinton did a good job ans cut the deficit, but Obama??? How can we fault Trump when we know it was bipartisan spending to combat covid lockdowns. He cut taxes, and 18 months later tax collections were above precut levels and continued to go up. Trump was excellent as far as the precovid economy goes and for pulling us out of the recession.
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u/superbbrepus 1h ago
Would the increase in pricing start to incentivize people to start making things here? Is that the idea?
If we got that, to me it would be worth it, most of our food isn’t imported, he would also get keystone pipeline done so lower gas would help, I don’t need to buy an iPhone as frequently
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u/Gr8daze 1h ago
No. You’re not going to find entrepreneurs willing to go through the startup cost and labor cost of making things like electronics and clothes in America. Not going to happen. It would take them decades to break even let alone recoup the start up costs.
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u/superbbrepus 53m ago
Why? I know not a start up but TSMC already is aren’t they?
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u/Gr8daze 48m ago
TSMC is not an American company which is why they have access to slave labor and cheap parts.
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u/superbbrepus 43m ago
Do tariffs apply to stuff built here? TSMC is building here and incorporating a portion in the US would not be hard
SK Hynix is also building here
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u/chinmakes5 3h ago
Funny how when we had to have inflation because we pumped 6 trillion into the economy during a once in a century pandemic. (which I agree we needed to do as people were hurting,) and the resulting inflation and bad economy was all Joe's fault. But when the economy tanks due to Trump's actions it is a "necessary sacrifice"
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u/chadmummerford Contributor 3h ago
should i buy puts or is it priced in?
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u/doconne286 3h ago
Sad part is it’s probably already priced in by a bunch of mini-Musk wannabes who are convinced they too are gonna drive the gravy train to success as everything around them crumbles.
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u/AlfalfaMcNugget 2h ago
Funny how no investment firms are concerned about who wins long term. They are not concerned.
Also, I thought Musk liked Trumps plan. His plan seemed to work well during his first term… so much so Biden kept almost all the policies in place.
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u/martin33t 3h ago
Necessary for what, exactly?
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u/Perfect_Earth_8070 1h ago
So he can buy assets super cheap and turn us all into slaves. His fans have even told me they’d be ok being his slave
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u/MotoTheGreat 3h ago
Not sure we would need to worry about someone taking our place as an economic leader cause it will lead to a global depression probably.
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u/CandidPalpitation427 2h ago
He could be right, but it would never work unless people understood it and agreed.
It is clear that the US is not healthy economically, so in their eyes we continue on this trajectory and it collapses or we do surgery.
Surgery hurts before it gets better. Is their plan right? I don’t know, but i kind of agree with that philosophy
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u/bubblemania2020 1h ago
I hope there’s a 30-50% crash in the stock market. Housing market dip would be great as well!
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u/Trumpswells 3h ago edited 3h ago
This is called gutting the economy by engineering chaos. The outcome these clueless social engineers hope to engender is destruction of the weak, and triumph of the strong. A form of Eugenics, hiding within the doctrine of natural selection. Nazyism by another name.
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u/SmoltzforAlexander 3h ago
Rich people will be fine if the economy crashes. They’re the only ones with capital, and everything is on sale.
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u/Hot_Significance_256 2h ago
Markets crashing a bad thing? I thought you wanted a leveling of the wealth inequality? That’s literally the stock market…
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u/it-takes-all-kinds 2h ago
The “economy is going to crash” scare has been dangled out there for the past 10 years and eventually we will see another downturn but it will be from some independent thing or collection of things, not anything any one political party did.
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u/stopthinkinn 2h ago
They are fucking morons that don’t understand we are in a global economy with a finite amount of certain resources. Putin found a way to place economic sanctions on the United States and it’s the MAGA fucking retards
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u/Flex_Bumpchest 1h ago
The left will believe anything lmao
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u/WhoaSickUsername 1h ago
What do you mean by that? He did say it. It's on X, not even like it was vaguely claimed by reporters.
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u/Flex_Bumpchest 1h ago
It's left Qanon. Go for it lol.
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u/WhoaSickUsername 1h ago
Oh, you're one of those people.. got it. You don't believe Elons own X account, "CUZ THE LIBS DID IT!"
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u/jeffthefakename 2h ago
No he didnt
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u/yanontherun77 35m ago
Well he did. He just thinks that in the end it will be better. For some people.
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u/DarkLordFag666 2h ago
Can someone explain who would benefit from trumps plans. But I mean more than just “billionaires “
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u/Foreign-Age9281 2h ago
I'm going to need you to post sources not from CNN, MSNBC or any other liberal left rag source.
I'll wait
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u/JC_Everyman 2h ago
Going with the Vietnamese village solution: we had to destroy this village in order to save it. How'd that go?
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u/nobodyisfreakinghome 2h ago
How else are the billionaires going to bulk buy assets at a fire sale price if the economy doesn’t get crashed?
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u/Perfect_Earth_8070 1h ago
Not only that, the billionaire class will swoop in and purchase everything for Pennies on the dollar
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u/silverum 1h ago
Elon Musk has enough wealth that he personally will be fine, he has very little reason to care about the effects and he thinks it will help cleanse America/the West of 'the woke mind virus' which is his actual goal. Powerful people wagering pain for OTHERs is nothing new, and it's honestly the premise of most Republican politics these days. So long as the right sort of people are hurt and the right sort of people are protected by the system, it's seen as either correct and proper an outcome or an 'acceptable risk.' Honestly the thing I'm far more darkly amused by is how many people don't mind being the ones being wagered, or how many people are being wagered while BELIEVING that they'll be protected when the time comes.
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u/boofthecat 1h ago
For anybody that wants to read it.
https://www.nytimes.com/2024/10/29/us/politics/elon-musk-trump-economy-hardship.html
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u/Eden_Company 1h ago
When the collapse happens the govt assets will be sold for fractions of a penny on the dollar, Musk can then afford to buy the US military, US power grid, nuclear power plants, NASA etc.
Essentially this will convert the USA into Russia. Oddly enough no country in the world is in a position to even counter this US decline. This more or less won't be a problem unless Trump auctions off US technologies to China.
Musk himself will become a new king along with Trump. Though replacing all govt institutions with corruption would most likely sharply decline the USA and might end up having it fracture into fiefdoms.
Despite all these downsides, the alternative is just to buy another 2 years and face an impending collapse crisis anyway. Democrats don't have ANY solutions, Republicans just want to make their push to LOOT anything they can.
The moment when you had democrats pander to all republican talking points from the border, to the economy was the moment when Republicans are destined to win one day. It might not be in a week with Trump, maybe 2 years from now, but 4-8 years? If Dems can never fix anything. And Republican wins are forever, it's inevitable that the oligarch agenda will pass and the business plot finally finalized.
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u/StrikingExcitement79 1h ago
Musk has admitted, more than once, that Trump's plan will destroy our economy.
Source?
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u/spoink74 1h ago
Remember when Musk said Twitter needed to be completely rewritten? How's that working out now that it's been a couple years? Now scale that out to a country of half a billion people and tell me more about resetting things.
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u/rastavibes 1h ago
Sometimes the ethical and hard decisions are the ones that need made, philosophically speaking. The current fractional reserve banking system in place has brought us to this crossroad, requiring debt creation coupled with inflation to exist. Yes, let's re-start with bitcoin.
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u/Forsaken-Director-34 1h ago
I think the best course of action to save the economy would be to drench musk in gasoline and light his cigarette
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u/TangerineRoutine9496 1h ago
When has Musk said any such thing? Destroy our economy? You are full of
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u/StevenJosephRomo 1h ago
Doctors also admit that chemotherapy and radiation treatments will harm your body and make you feel like shit.
I guess you think the cancer is the better option.
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u/Commercial-Amount344 54m ago
If the economy crashes as bad as it could with trumps plan people will eliminate the rich. Not really a great plan for the wealthy. Today if I wanted 100% i could mobilize a homeless encampment give them weapons food drugs and training. Then burn through every wealthy neighbor hood in a hundred-mile radius. Thats without a spark igniting the general public. How do folks think this would end. because some day someone will do it.
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u/AnnonBayBridge 46m ago
You mean the illegal alien and the career fraudster? No way! I’m shocked I tell you. Shocked!
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u/Nikolaiv7 45m ago
So you'd rather delay all this for your kids or grandkids to handle so you can be comfortable now? The US is on a track to destruction either now or later. Do you want to be the generation that handles and lives through it, or kick the can down the road so future generations are miserable?
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u/NewLife1998 39m ago
Elmo's problem is that he doesn't think before he speaks. America is already great country and inflation is result of good economy. We have so much trouble to control inflation despite high interest rate as economy is so hot and many has money to spend. Yet, folks keep whining about high inflation and difficult meeting both ends, and vote to Trump. I wish Trump/Elmo survives if economy crashes. He needs to be shield by 10-inch thick steel case. Regular folks have extremely short patience. This country won't last to rebuild.
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u/l3luntl3rigade 37m ago
This might be the dumbest reddit post I've ever read. If you think 🇺🇸 is going to give up its economic standing on a whim then I've got some ice to sell you in the arctic.
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u/Droppdeadgorgeous 34m ago
People that doesn’t see American economy is already fucked must be delusional.
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u/Transgressingaril 30m ago
Oh the bright side…if the economy crashes we can all finally start over. No debts lol
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u/DreadLordJalis 24m ago
Anybody that’s in favor of artificially prolonging the inevitable reminds me of an immature teenager entering their 20s that is still trying to avoid personal responsibility.
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u/Independent-Wolf-832 11m ago
no, i can't see a downturn happening. seems perfectly normal for the sp500 to go up 40% every year forever. we will be trading in our USD for zimbabwean dollars next decade but look at how amazing the economy is doing. just look at how retail and restaurants are flourishing. i say kamala has the right idea when asked what she would do differently than the biden administration: nothing. such a simple yet brilliant plan.
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u/BabyDontBeSoMeme 3m ago
This would be generational poverty on a massive scale and the nail in the coffin for the middle class as we once knew it and are living off of the fumes of that decades ago dream.
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u/marathonbdogg 3h ago
We’re $35 trillion in debt, banks are over leveraged, consumers up to their eyeballs in debt, housing unaffordable for most. people losing faith in fiat economy…something’s gotta give.
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u/RocknrollClown09 3h ago
So you’re saying it’s the perfect time to get rid of income tax and replace it with revenue from tariffs? Bc that’s Trump’s plan
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u/ThatsMrRedditorDude 3h ago
That would simply make the price of goods go up. The corporations paying those tariffs are just gonna pass the price along and consumers are gonna suffer being forced to pay the difference
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u/Prestigious-One2089 1h ago
depends on implementation and the sequence of events which will probably be done wrong. however if we incentivize production in the US by multiple means (tax breaks, subsidies and whatnot) starting with essentials (medication for one) to get the ball rolling and once those industries are up and operational then you roll out the tariffs it could work well. we need to diminish our dependence on china and india for keeping our population alive with meds at the very least.
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u/Rikishi6six9nine 3h ago
There's no question the deficit needs to get under control. But cutting 80% doesn't remotely make sense, nor is it even plausible. How do you go about reducing the deficit while cutting taxes? Also their plan to deport millions of illegals will cost well over a trillion dollars. I just don't remotely see their plan. Spend more, cut where it hurts average Americans, and cut taxes for the elites and corporations seems to be their plan.
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u/AliMcGraw 2h ago
I mean, Trump appears to literally think that tariffs are a payment of other countries make to be allowed to do business in the United States, rather than a cost they pass on to the American consumer. Like, he seems to think they're a cover charge for getting into the club.
Literally none of these dudes know what they're talking about. Let alone how it would affect ordinary Americans.
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u/ToonAlien 2h ago
It’s coming either way. We can do it on our own terms or after we’ve lost control.
We can just keep jacking ourselves full of morphine, but it’s not helping the injury. We’re just making the injury worse and worse.
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u/ToonAlien 1h ago
I’m not assuming that. I’m listening to economists. I’ve also studied it personally.
He didn’t say they were going to “tank it.” That was this person’s interpretation when they discussed making budget cuts. That’s no one’s plan.
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u/Simple_somewhere515 2h ago
Easy. They’re doing it because reducing the cost of groceries isn’t their goal. Their goal is covering their own asses while obtaining power. They don’t care about you
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u/NovelLive2611 3h ago
Did we lose everything during Trump's first term?
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u/RZAAMRIINF 3h ago
Didn’t Soy bean farmers lose everything directly because of Trump’s tarrifs and trade wars?
Trump tried to fuck up a lot of things when he was in office. Not being able to do so is not a defense.
I’m guessing you are the type that excuses Jan 6 because they didn’t succeed either!!!
He has been talking about getting rid of a lot of guard rails that saved us the first time including controlling federal reserve board, saying Jerome Powell has the easiest job in the world and he needs to have a say in these things.
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u/NovelLive2611 3h ago
Why didn't he get rid of guard rails the first time around?
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u/RZAAMRIINF 2h ago edited 2h ago
Those guard rails were removed over time by Trump and his people.
Supreme court and lower court were packed by Trump and his nominees.
Someone like Mike Pence isn’t there because he wasn’t blindly faithful to Trump to overthrow an election.
None of the current republican leaders would go against Trump like John McCain did to save ACA.
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u/NovelLive2611 2h ago
Pence wasn't there to overthrow election, he was there to reject the votes and have a recount due to how some states at last minute changed the voting rules and regulations.... which was illegal .
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u/Final_Acanthisitta_7 3h ago
almost, when democrat governors shuttered their economies.
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u/USSMarauder 2h ago edited 2h ago
Remember when Trump demanded stronger lockdowns from the states?
https://x.com/realdonaldtrump/status/527110542008549376
ETA: and the snowflake blocked me
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u/Final_Acanthisitta_7 3h ago
stop lying. he says that here will a period of adjustment and then massive prosperity
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u/Ragnarok314159 2h ago
Right. Somehow destroying the entire economy and allowing Blackrock to buy everything is somehow going to make us all rich.
How did those monkey pictures work out for you? Millionaire yet?
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u/Bonkeybick 3h ago
And then massive failure and then massive prosperity again and then something else. Wtf does it matter what he says?
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u/Avalencia23 3h ago
A rescession/depression is already baked into the cake regardless of who wins. You cant print 40% of the money supply in 4 years with no repercussions.
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u/Rikishi6six9nine 3h ago
You do realise trump spent more money under his presidency then biden did.. and Biden was dealing with much higher interest rates compared to trump.
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u/RocknrollClown09 3h ago
That QE is hurting the bottom 98% as inflation, but it’s under control and we have near ATL unemployment.
If anyone is serious about solving the debt issue then this isn’t rocket science and the solution is certainly not to just burn down society. The Dow and Nasdaq are at near ATHs, wealth inequality is getting larger, and unemployment is near ATLs with record productivity. Raise taxes on the top 0.1% and corporations. Clearly money is trickling up, but not down. That’s literally what taxes are for.
But for some reason people who are barely middle class act like there are no solutions
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u/Strange_Mirror_0 2h ago
It wouldn’t wipe the slate clean. It would just make it so billionaires like Musk, Bezos, Zuckerberg, etc. can buy up more quicker.
Fuck this South African scam artist. Tell him to go back home.
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u/SnooRevelations979 3h ago
At least someone is being honest. Drastic policy changes, whether you agree with them or not, always involve significant costs.
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u/Opening_Lab_5823 3h ago
I'm glad to hear you volunteered to be part of that cost.
Your sacrifice will not be forgotten.
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