581
great
This is the point. They want to crash the economy.
I mean, he said so himself even before the election. We just have the fucking stupidest, god awful people in this country that apparently wanted it.
he said so himself
I would love to be able to show some of my MAGA relatives that clip. Do you have a link?
Thank you for the link.
In the article Elon Musk said that we (and by we he means us) have to reduce spending to live within our means. LOL. This from the guy who sells $100k cars.
Probably realized he can't sell a lot of those anymore.
He could sell a bunch of Tesla stock, crash the entire US economy and then buy a whole lot of whatever he wants because everything will be discounted (including Tesla, he could just rebuy his stock for a fraction of the price)
Rich people LOVE economic downturns. Best time to make money is when everything is on sale, just need to buy and wait. Stocks, property, everything.
Because he can't buy whatever he wants now?
He can, but if stocks fall 90%, he can buy 10x as much. If he shorts things on the way down, he can multiply his money first too.
If this is played right, he could be worth tens or hundreds of trillions a decade or 2 from now.
I believe that's what he's going for.
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Crises are a feature of capitalism. Marx talked about this. Things become hell for the working class, and the capitalists reap the rewards.
Yes, and people with power, people with connections, and people who are rich will always benefit from crises. Naomi Kleins The shock doctrine explains this very well in a modern context.
Adding to my reading list!
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But hey, look on the bright side: Musk and his rich bros will be able to buy up stuff for dirt cheap!
Oh come now! That's surely just a coincidence.
Deportations are also lost jobs. Not sure they will be counted though.
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“Jesse Rothstein is an economist, and currently professor of public policy and economics at the University of California, Berkeley. In 2010, he was chief economist at the US Department of Labor. He is the founding director of the California Policy Lab, a research associate of the National Bureau of Economic Research, and is a member of the editorial boards of Education Finance and Policy, The Review of Economics and Statistics, American Economic Review, and Industrial Relations.[1][2][3][4]”
For those that don’t know the guy he’s got a solid pedigree
By April, the employment report will probably be either heavily doctored or just downright not published.
Nazis don't care about the truth.
Taking a page from the CCP
It’s sad that you have downvotes for this. It is a common practice in authoritarian states.
The people burning down the nation release the "report". Dear leader haz bestest economy evar will be the headline. We will never see clean information again, thats the point. Best unemployment numbers, homelessness over, drug war won, best economy ever, amerikkka has no gays, immigration solved, fairest elections ever. Im concerned that people dont see this coming and trust any information released by this new "government".
My guess is that the first bad report will be accurate, but once this administration gets caught with their pants down, they'll fire that team and start releasing jobs reports that have been sharpied to death.
Demanding that reporters who make criticisms of Trump/Musk be fired and jailed, is going to get the agencies in line with our Fuhrers.
be richest person
crash the biggest economy in the world
buy the remains for cheap
not exactly a complicated plan.
maga voters want this to happen. they crave being worse off.
The crabs in a bucket mentality.
Crabs don't actually root for the outcome, they can't see the outcome. They just try to climb and end up pulling down anything above them. These people actively vote against their interest and then cheer the pain & suffering of others. I'd take crabs any day of the week.
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Who is there to warn though?
You got your normal Americans who already know this.
And then there's the manipulated ~~Nazis~~ Magas that won't even listen to this warning.
This is some of that bizarre, black-and-white thinking I've come to expect from Lemmy (and, of course, reddit). I can assure you that there are a lot of "normal Americans" who do not "already know this".
I'm not the OP. But I'm a bit jaded as well. I come from a family of Trump voters. And moved to a very liberal city after leaving home. So most of the people I know fall into the two camps. The people who do not are few. But my sample is biased of course.
I feel like too many of the people here really do need to touch grass. Idk if it's the high number of people in tech work or something else but I see so many takes of what "normal" people that's so far off the mark it makes me question when was the last time they spoke to an actual person.
If by "actual person," you mean Trump voter, I'm afraid our definitions of people might be different.
Billionaire Disaster Capitalism - billionaires create their own disasters and then profit immensely off of them
exactly this. crashing the economy IS the plan. you just need to be short on the right stocks at the right time.
Trump is going to cause the recession. Musk is there because of trump.
Musk paid to get Trump into office. Musk is there because of Musk.
Worst bromance ever.
That guy is forgetting that the jobs report is produced by a government agency, so what makes him think they're going to report accurate numbers?
Or any numbers if they are all fired too.
That reminds me of when someone tried to use the FOIA to request firing information for one of the govt. agencies and all of their FOIA staff had been fired so there was nobody to fulfill the request.
And, look, I'm not a hedge analyst or an economist, but even I can see that the comedown from the tariffs is going to have a huge negative impact on the stock market.
So, genuine question here, if this recession comes along with the stock market dip, will that cause a spiral that leads to another great depression?
Maybe? I do know that Elon is going after the agency that runs the FDIC. The FDIC insures the bank's money. I don't see how they don't see how shitty this is going to be for all of them too. It's insane.
Oligarchs have their money tied up in property, investments, and hidden from the taxman in foreign banks. Destroying the stock market would hurt them a bit, but destroying banks? The way they see it, only poor people have their money in a savings account.
I remember the first time I realized that. It was when watching the Futurama episode, "Insane in the Mainframe."
Judge Whitey: The charge is bank robbery. Now, my caddie's chauffeur informs me that a bank is a place where people put money that isn't properly invested. Therefore, robbing a bank is tantamount to that most heinous of crimes - theft of money.
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Don’t worry. Elon and his friends will simply invest in shares as they bottom out in the crash.
I fucking hope so. I cannot wait to watch this burn down around them.
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this post was submitted on 21 Feb 2025
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