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Trump ‘eroding’ US brand, has made the country 20% poorer, Citadel chief says (www.semafor.com)

submitted 2 days ago by MicroWave@lemmy.world to c/politics@lemmy.world

41 comments fedilink hide all child comments

Donald Trump is moving too fast, alienating allies, making Americans poorer, and tarnishing the sterling reputation of US assets, Citadel CEO and founder Ken Griffin said Wednesday.

Though the president may have identified real problems, his methods to solve them don’t appear to be working, and are unlikely to revive American manufacturing, Griffin told Semafor’s Gina Chon at the World Economy Summit in Washington, DC.

Previously, Griffin said, “no brand compared” to US Treasurys, the strength of the US dollar, or the nation’s creditworthiness. But Trump’s tactics have “eroded” that reputation.

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[-] N0body@lemmy.dbzer0.com 57 points 2 days ago

The billionaire, parasite class is turning against Trump. They wanted lower taxes and less regulation to commit more crimes, not massive global instability. And they definitely didn’t realize how diminished Trump is and the role the adults in the room played in the first administration.

This level of chaos will never be profitable. It only accelerates their plans to retreat to bunkers when everything collapses. That was supposed to be caused by climate change, not unforced errors from a senile president and the clown car administration sound him.

[-] markovs_gun@lemmy.world 13 points 2 days ago

I don't feel bad for these morons. Trump is doing exactly what he said he would do and these supposedly more intelligent billionaires are completely surprised.

[-] boughtmysoul@lemmy.world 2 points 1 day ago

No they’re not. They can live on interest for 100,000 years without issue.

[-] Ledericas@lemm.ee 5 points 2 days ago* (last edited 2 days ago)

we know where thiel is hiding, at least one of his bunkers is in new zealand. he can have his harem of men to live with him.

musk has a fetish so he built a compound for his concubines in texas.

[-] metaldream@sopuli.xyz 5 points 2 days ago

NZ should deport that asshole.

[-] aldfin@lemm.ee 2 points 2 days ago

I’m wondering what makes you think that becoming rich automatically makes you a parasite. No doubt many are, but even as a Linux user it’s hard to see for example Bill Gates as a parasite. Or Warren Buffett for that matter, despite his flaws.

[-] Damage@feddit.it 13 points 2 days ago

I mean, we can somewhat argue about millionaires, but Billionaires? No way anyone EARNED that much.

[-] aldfin@lemm.ee 1 points 2 days ago

I get your point but I don’t think that’s equates to being a bad person. At least the two folks I mentioned as examples are doing major philanthropy with their funds and I don’t think not earning the money is a bit different than just straight up calling them parasites. It’s a systemic issue that we as a society need to work on together rather than all the hate and division that has driven a lot of countries to populism.

[-] Damage@feddit.it 12 points 2 days ago

Every moment they live with that kind of wealth is a moment that a poor mother cries because she can't feed her kids, some poor folk dies because he can't afford healthcare, some kid learns what it means to be poor.

I understand enjoying life and some luxuries from time to time, I don't want anyone to renounce their humanity for ideals imposed by others, but every time I read about billionaires' antics I can't help but think of my mother checking all the price tags at the supermarket, driving cars unfit for the road and so on... And we have never even touched real poverty, I can't say I ever skipped a meal.

So yeah, I can be tolerant as much as you want, I sure don't plan to go Luigi anyone, but no super luxury hotel stay is worth kids going hungry, not to mention other bullshit.

[-] aldfin@lemm.ee 1 points 2 days ago

Gates is leaving 1% of his wealth to his kids. Rest goes to the causes you mentioned.

[-] Damage@feddit.it 5 points 2 days ago

He still has it

[-] aldfin@lemm.ee 1 points 2 days ago

Right but when he’s dead it will go to charity and hopefully to far better use than giving it to the US government to waste on interest payments and military spending.

[-] Damage@feddit.it 2 points 1 day ago

Yeah or he could just not extract it from his employees and let the economy distribute it around, or give it to charity NOW, I mean even if he gave billions it wouldn't change his life one bit, except he'd lose power, and that's all these psychos care about.

[-] Zombiepirate@lemmy.world 7 points 2 days ago

The change handed out by billionaires as philanthropy is PR to keep them from paying their fair share in taxes. Calling them a parasite class is completely accurate— they couldn't have earned that much wealth without exploiting both the laborers who created it and the society that their extreme horde inherently destabilizes. If they paid their fair share in taxes, then their donations would be appreciated.

[-] aldfin@lemm.ee 1 points 2 days ago

I think it would be pretty naive to think the US government would spend it any better.

[-] Zombiepirate@lemmy.world 2 points 1 day ago* (last edited 1 day ago)

I think it's pretty naïve to think that oligarchs are benevolent, and at least we have a say on how government money gets spent.

What we have now is billionaires rigging the system in their favor; like I said, that kind of wealth disparity is inherently destabilizing to society, and they accumulated it through exploitation.

Finally, if the people could spend the money better than the government, why do we have taxes at all? It's because there are things that we need to address as a society instead of relying on charity that may or may not come.

[-] Whats_a_lemmy@ponder.cat 2 points 1 day ago* (last edited 1 day ago)

Don't be fooled by the philanthropic image they've worked so hard to cultivate:

https://inequality.org/article/true-cost-of-billionaire-philanthropy/

[-] myrmidex@slrpnk.net 3 points 2 days ago

Surplus value my friend, it's all in the surplus value.

[-] aldfin@lemm.ee 1 points 2 days ago

Absolutely, I just disagree with hating on some collective group instead of trying to fix the issues we have in our societies together.

[-] myrmidex@slrpnk.net 4 points 1 day ago

If the term collective group is referencing the exploiters, then those are the cause of the issues. These cannot be solved without altering the economic system, which is a direct - and in their eyes violent - attack on the exploiters.

I agree with being careful stigmatizing groups or people, but that does not count for exploiters. They are the heinous villains of this world. They deserve no compassion.

[-] Goodmorningsunshine@lemmy.world 10 points 1 day ago

Maybe you shouldn't have donated $100 million motherfucking dollars to him then, huh Kenny boy? Fuck you.

[-] twice_hatch@midwest.social 10 points 1 day ago

Imagine that a "business man" who inherited his money, couldn't beat a passive index, and repeatedly went bankrupt couldn't run a country

[-] RedditIsDeddit@lemmy.world 11 points 1 day ago

Who would've thought given a convicted FRAUD the POTUS powers again would be a bad idea... fucking stupid

[-] Formfiller@lemmy.world 27 points 2 days ago

[-] SoleInvictus 4 points 1 day ago

Seeing you post this in response to multiple posts is the highlight of my day.

[-] Formfiller@lemmy.world 4 points 1 day ago* (last edited 1 day ago)

It’s brought me great joy as well

[-] Hobbes_Dent@lemmy.world 27 points 2 days ago* (last edited 2 days ago)

Well put, but also leopards.

Griffin is one of the Republican Party’s biggest donors and has previously downplayed the threat of trade duties.

Still, the tariffs have been a major focus for Citadel, at a time when Griffin had expected a breather from the pressures of new regulations under the Biden administration.

Griffin had been relishing “the idea that I have four years to focus on my business.” But thanks to tariff turmoil, the country “has devolved into a nonsensical place” where business leaders are distracted by concerns such as supply chain disruptions.

[-] hitmyspot@aussie.zone 10 points 2 days ago

Yep, as a business leader, that led in this direction, he's not leading on taking the blame, is he?

[-] jagged_circle@feddit.nl 3 points 1 day ago

Brand? Of terrorism? Not sure the US had good PR before...

[-] shittydwarf@lemmy.dbzer0.com 13 points 2 days ago

Ken Griffin lied under oath to congress, but you know, $$$

[-] DetectiveNo64@lemmy.ca 4 points 1 day ago

Never buying American again, hope they all rot.

[-] twice_hatch@midwest.social 3 points 1 day ago

They who?

[-] OutlierBlue@lemmy.ca 2 points 1 day ago

Yes

[-] D_C@lemm.ee 2 points 1 day ago

Wait wait wait, ..."tRUMP is moving too fast." WTF?
That fat cunt never moves fast, physically or mentally. He just cannot do it.

Ok, maybe if it's to do with raping women and children then, yeah, I can see him rushing to do that.

[-] ayyy@sh.itjust.works 3 points 1 day ago

No cell, no sell. Ken Griffin lied to congress under oath.

[-] CircaV@lemmy.ca 2 points 1 day ago

Oh well. Moving on. No one wants to deal with fash. Fash can fuckkk off.

[-] Jhex@lemmy.world 2 points 2 days ago

Donald Trump is moving too fast

Yeah, that's the problem... too much speed! LOL what a jackass thing to say

[-] roserose56@lemmy.ca 1 points 1 day ago

Where is his research? Where at his sources? Trump is trying to save America/S

[-] RememberTheApollo_@lemmy.world 1 points 2 days ago

Which part of the country lost the most % and became poorer? Middle class? The rich?

[-] Ledericas@lemm.ee 2 points 2 days ago

as directed as putin, if usa is weakened they are less likely able to stand against Russias imperialistic aims, which is also subjagate ukraine and its bordering countries.

[-] Qwazpoi@lemmy.world 1 points 2 days ago

If the US gets poor enough can a fast food combo cost less than an hour of working an assembly line?

this post was submitted on 24 Apr 2025

325 points (100.0% liked)

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