5 ms·

This is because a mad king and his enablers in technology are intentionally crashing the global economy so they can control the aftermath.

zombiwoof 2y ago
I’m convinced the same. Crash it all so the wealthy can buy it back cheaper Also because whatever Fox News says is truth to these people. They could tell people it’s raining on a sunny day and they will carry and umbrella and call people without one sheep
- TheAlchemist 2y ago
  Well, Fox News did show dolars raining on Trump on Friday, when arguing that tariffs are good. Yes, for real: https://bsky.app/profile/atrupar.com/post/3llzcxpmmgj2c https://bsky.app/profile/atrupar.com/post/3llzcxpmmgj2c
  - seanmcdirmid 2y ago
    WSJ, also owned by Murdoch, is screaming bloody murder. One media for rich conservatives and one media for poorer conservatives, the goals of each are very different.
- bamboozled 2y ago
  You have to believe there will be something left to own. This is going to get pretty ugly. I honestly think he is dumb and the people he has surrounded himself with are also dumb. It’s just hard to believe that someone this dumb is the POTUS so we have to make up conspiracy theories to reason with it.
Buttons840 2y ago
Insiders could be trading and making a lot of money on these snap decisions. Judge for yourself whether such a thing would happen. It would have been better if Trump gave advance notice before shaking everything up on a dime. I predict he'll reverse some terrifs without warning, thus creating another insider trade opportunity.
- amazingamazing 2y ago
  he won’t reverse them without capitulation. trump has been obsessed with tariffs for decades now, even before being a politician
  - Buttons840 2y ago
    It's 2 days later and Trump has dropped most of the tarrifs... temporarily.
rogerthis 2y ago
People said the same when COVID started. The sides were reversed back then.
- blackguardx 2y ago
  Which sides are you referring to? The current US president was also president when COVID started.
  - smegger001 2y ago
    and who tried instituting tariff regime then too (only back then there were still a few grown up in the room back then to put limits in place)
- SpicyLemonZest 2y ago
  It's not "people" who are saying this, it's the official position of the Secretary of Commerce. "The president needs to reset global trade."
IgorPartola 2y ago
So one major sector the tariff hit is the auto industry. Lots of cars are imports or built elsewhere or have parts imported. In completely unrelated news, a good friend of POTUS runs a struggling American car manufacturer. I think it’s called Tesla or some such?
- JohnTHaller 2y ago
  As per the President, it's pronounced Tessler
  - deleted 2y ago
    [deleted]
- zozbot234 2y ago
  That "good friend of the POTUS" has everything to lose if the economy tanks. Tesla is far from insulated from the rest of the market, same with his other ventures. There's no way he's happy about this.
  - IgorPartola 2y ago
    That makes sense, but I do wonder if the idea here is that he thinks Tesla will be less damaged than others. In either case it’s really dumb but hey it’s not like we all didn’t at some point ruin an economy or two.
    - ethbr1 2y ago
      Or, there is a diverse group of people in the current administration, with sometimes contradictory agendas and views.
  - kavalg 2y ago
    Are you sure? Maybe the rich just want to buy shares back at a favorable price. I can't help wondering how much cash they are holding now.
- 2y ago
ldjkfkdsjnv 2y ago
Theyre crashing the market to monetize the debt at cheaper rates
- shuckles 2y ago
  This is the dumbest theory I’ve heard so far.
- amazingamazing 2y ago
  go look at trump interviews in the 80s and 90s. the guy has always loved tariffs.
  - ldjkfkdsjnv 2y ago
    yes but this is a dual objective move
- triceratops 2y ago
  But why?
  - ldjkfkdsjnv 2y ago
    because the country cant manage the debt, and us equity growth is partly due to rampant government spending, not true growth
    - triceratops 2y ago
      > us equity growth is partly due to rampant government spending The US government bought a lot of equities? If yes, isn't crashing the stock market bad for the government? If no, then what does that mean, exactly? The government spends a lot of money buying stuff from companies in the S&P 500? Enough to send their prices sky high? How does crashing the stock market fix that?
      - ldjkfkdsjnv 2y ago
jiggawatts 2y ago
This implies some sort of intelligent (if evil) master plan. There is no master plan other than "Trump likes tariffs". That's it. That's all it is. He's been talking about tariffs for decades, it's a thing that he likes, and he now has unchecked power. Hence, tariffs. The tariffs he put in place don't even make sense. They're a Thanos snap on every country, and makes about as much logical sense as that fictional character's evil master plan did! I.e., none. I seriously doubt Elon likes that Europe will enact retaliatory tariffs on Tesla car imports, halving his market overnight. "Yay! Less sales! Crashing stocks! Woo!" I very seriously doubt that other billionaires -- who's net worth is tied up in stocks and bonds -- are ecstatic that these are plummeting in value. All of the Reddit memes of "they just want to buy the dip" presupposes that these billionaires all "got out of the market", converted their stocks to something like gold or Bitcoin, and will then buy back in at a multi-trillion-dollar scale. Other than Warren Buffet, nobody has done this. The market would have crashed months ago if they had all sold off simultaneously! This is WallStreetBets nonsense.
- bamboozled 2y ago
  Elon is already going after Peter Navaro over tariffs and publicly stated he thinks eu and us should have a deee trade agreement. What a moron for backing these people…
  - belter 2y ago
    And the U.S. Treasury Secretary is saying he has nothing to do with this: https://youtu.be/YjVlsMGQTb0?t=296 https://youtu.be/YjVlsMGQTb0?t=296
- smegger001 2y ago
  >I seriously doubt Elon likes that Europe will enact retaliatory tariffs on Tesla car imports, halving his market overnight. Elon is so blasted on drugs and his own fawning internet echo-chamber maga apologists I don't think he's capable of thinking that far.
- merek 2y ago
  > Other than Warren Buffet, nobody has done this Berkshire's had $334 billion cash at the end of 2024, double the previous year. This is still only 30 percent of their total assets (see link). So while there were some preparations for a major decline (perhaps more so than most companies), they are still very exposed to the market turbulence. https://www.investmentnews.com/rias/berkshire-hathaway-is-piling-cash-advisors-say-thats-not-such-a-bad-thing/259523 https://www.investmentnews.com/rias/berkshire-hathaway-is-pi...
yongjik 2y ago
People keep saying this but California with its technology workers are overwhelmingly against Trump. I don't see why technology should be singled out any more than corn farmers and whiskey makers.
- Marsymars 2y ago
  > People keep saying this but California with its technology workers are overwhelmingly against Trump. It's pretty easy to think of how they could take more effective action against Trump if they were more against Trump than they currently are.
bloppe 2y ago
This is a very charitable explanation. There's a much likelier one; Trump is literally doing what he thinks is right and smart. Of course, he's wrong, but nobody with the power to stop him is willing to call him out on it yet. It will probably take a lot of pain before they do (they being Congress).
HenryBemis 2y ago
Every crisis is a wealth redistribution. I'm a Dave Ramsey _and_ a Warren Buffett fan, so when my favourite shoes are half price, I run to buy them (Ramsey on stock exchange falling), and from Buffett: "the stock market is designed to transfer money from the active to the patient". I think I get that DJT wants to do (I live in the EU so I didn't vote for neither). Stocks are going down? VOO/VOOG/etc. going down? Good! My (small) monthly investment will buy 'so much' more. And when 'that thing' rebounds then even better. In cases like that I feel sorry for the people who have to 'close'/sell their assets because they want to buy a house (why do people put it in the markets if they want their money out in less than 1-2 years?), or are retiring (no need to sell everything, sell small and slowly - it will rebound) and drops like this, or the COVID-time drops mess their plans.
penguin_booze 2y ago
https://finshots.in/archive/the-us-wants-its-stock-market-to-crash/ https://finshots.in/archive/the-us-wants-its-stock-market-to...

zombiwoof 2y ago

I’m convinced the same. Crash it all so the wealthy can buy it back cheaper Also because whatever Fox News says is truth to these people. They could tell people it’s raining on a sunny day and they will carry and umbrella and call people without one sheep

TheAlchemist 2y ago
Well, Fox News did show dolars raining on Trump on Friday, when arguing that tariffs are good. Yes, for real: https://bsky.app/profile/atrupar.com/post/3llzcxpmmgj2c https://bsky.app/profile/atrupar.com/post/3llzcxpmmgj2c
- seanmcdirmid 2y ago
  WSJ, also owned by Murdoch, is screaming bloody murder. One media for rich conservatives and one media for poorer conservatives, the goals of each are very different.
bamboozled 2y ago
You have to believe there will be something left to own. This is going to get pretty ugly. I honestly think he is dumb and the people he has surrounded himself with are also dumb. It’s just hard to believe that someone this dumb is the POTUS so we have to make up conspiracy theories to reason with it.

Buttons840 2y ago

Insiders could be trading and making a lot of money on these snap decisions. Judge for yourself whether such a thing would happen. It would have been better if Trump gave advance notice before shaking everything up on a dime. I predict he'll reverse some terrifs without warning, thus creating another insider trade opportunity.

amazingamazing 2y ago
he won’t reverse them without capitulation. trump has been obsessed with tariffs for decades now, even before being a politician
- Buttons840 2y ago
  It's 2 days later and Trump has dropped most of the tarrifs... temporarily.

rogerthis 2y ago

People said the same when COVID started. The sides were reversed back then.

blackguardx 2y ago
Which sides are you referring to? The current US president was also president when COVID started.
- smegger001 2y ago
  and who tried instituting tariff regime then too (only back then there were still a few grown up in the room back then to put limits in place)
SpicyLemonZest 2y ago
It's not "people" who are saying this, it's the official position of the Secretary of Commerce. "The president needs to reset global trade."

IgorPartola 2y ago

So one major sector the tariff hit is the auto industry. Lots of cars are imports or built elsewhere or have parts imported. In completely unrelated news, a good friend of POTUS runs a struggling American car manufacturer. I think it’s called Tesla or some such?

JohnTHaller 2y ago
As per the President, it's pronounced Tessler
- deleted 2y ago
  [deleted]
zozbot234 2y ago
That "good friend of the POTUS" has everything to lose if the economy tanks. Tesla is far from insulated from the rest of the market, same with his other ventures. There's no way he's happy about this.
- IgorPartola 2y ago
  That makes sense, but I do wonder if the idea here is that he thinks Tesla will be less damaged than others. In either case it’s really dumb but hey it’s not like we all didn’t at some point ruin an economy or two.
  - ethbr1 2y ago
    Or, there is a diverse group of people in the current administration, with sometimes contradictory agendas and views.
- kavalg 2y ago
  Are you sure? Maybe the rich just want to buy shares back at a favorable price. I can't help wondering how much cash they are holding now.
2y ago

ldjkfkdsjnv 2y ago

Theyre crashing the market to monetize the debt at cheaper rates

shuckles 2y ago
This is the dumbest theory I’ve heard so far.
amazingamazing 2y ago
go look at trump interviews in the 80s and 90s. the guy has always loved tariffs.
- ldjkfkdsjnv 2y ago
  yes but this is a dual objective move
triceratops 2y ago
But why?
- ldjkfkdsjnv 2y ago
  because the country cant manage the debt, and us equity growth is partly due to rampant government spending, not true growth
  - triceratops 2y ago
    > us equity growth is partly due to rampant government spending The US government bought a lot of equities? If yes, isn't crashing the stock market bad for the government? If no, then what does that mean, exactly? The government spends a lot of money buying stuff from companies in the S&P 500? Enough to send their prices sky high? How does crashing the stock market fix that?
    - ldjkfkdsjnv 2y ago

jiggawatts 2y ago

This implies some sort of intelligent (if evil) master plan. There is no master plan other than "Trump likes tariffs". That's it. That's all it is. He's been talking about tariffs for decades, it's a thing that he likes, and he now has unchecked power. Hence, tariffs. The tariffs he put in place don't even make sense. They're a Thanos snap on every country, and makes about as much logical sense as that fictional character's evil master plan did! I.e., none. I seriously doubt Elon likes that Europe will enact retaliatory tariffs on Tesla car imports, halving his market overnight. "Yay! Less sales! Crashing stocks! Woo!" I very seriously doubt that other billionaires -- who's net worth is tied up in stocks and bonds -- are ecstatic that these are plummeting in value. All of the Reddit memes of "they just want to buy the dip" presupposes that these billionaires all "got out of the market", converted their stocks to something like gold or Bitcoin, and will then buy back in at a multi-trillion-dollar scale. Other than Warren Buffet, nobody has done this. The market would have crashed months ago if they had all sold off simultaneously! This is WallStreetBets nonsense.

bamboozled 2y ago
Elon is already going after Peter Navaro over tariffs and publicly stated he thinks eu and us should have a deee trade agreement. What a moron for backing these people…
- belter 2y ago
  And the U.S. Treasury Secretary is saying he has nothing to do with this: https://youtu.be/YjVlsMGQTb0?t=296 https://youtu.be/YjVlsMGQTb0?t=296
smegger001 2y ago
>I seriously doubt Elon likes that Europe will enact retaliatory tariffs on Tesla car imports, halving his market overnight. Elon is so blasted on drugs and his own fawning internet echo-chamber maga apologists I don't think he's capable of thinking that far.
merek 2y ago
> Other than Warren Buffet, nobody has done this Berkshire's had $334 billion cash at the end of 2024, double the previous year. This is still only 30 percent of their total assets (see link). So while there were some preparations for a major decline (perhaps more so than most companies), they are still very exposed to the market turbulence. https://www.investmentnews.com/rias/berkshire-hathaway-is-piling-cash-advisors-say-thats-not-such-a-bad-thing/259523 https://www.investmentnews.com/rias/berkshire-hathaway-is-pi...

yongjik 2y ago

People keep saying this but California with its technology workers are overwhelmingly against Trump. I don't see why technology should be singled out any more than corn farmers and whiskey makers.

Marsymars 2y ago
> People keep saying this but California with its technology workers are overwhelmingly against Trump. It's pretty easy to think of how they could take more effective action against Trump if they were more against Trump than they currently are.

bloppe 2y ago

This is a very charitable explanation. There's a much likelier one; Trump is literally doing what he thinks is right and smart. Of course, he's wrong, but nobody with the power to stop him is willing to call him out on it yet. It will probably take a lot of pain before they do (they being Congress).

HenryBemis 2y ago

Every crisis is a wealth redistribution. I'm a Dave Ramsey _and_ a Warren Buffett fan, so when my favourite shoes are half price, I run to buy them (Ramsey on stock exchange falling), and from Buffett: "the stock market is designed to transfer money from the active to the patient". I think I get that DJT wants to do (I live in the EU so I didn't vote for neither). Stocks are going down? VOO/VOOG/etc. going down? Good! My (small) monthly investment will buy 'so much' more. And when 'that thing' rebounds then even better. In cases like that I feel sorry for the people who have to 'close'/sell their assets because they want to buy a house (why do people put it in the markets if they want their money out in less than 1-2 years?), or are retiring (no need to sell everything, sell small and slowly - it will rebound) and drops like this, or the COVID-time drops mess their plans.

penguin_booze 2y ago

https://finshots.in/archive/the-us-wants-its-stock-market-to-crash/ https://finshots.in/archive/the-us-wants-its-stock-market-to...