this post was submitted on 07 Mar 2025
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Economy

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[–] Vertelleus@lemmy.dbzer0.com 102 points 1 week ago* (last edited 1 week ago) (6 children)

Has anyone thought that Trump is trying to run the economy like a crypto "pump and dump" scheme?

Genuinely curious.

[–] Smokeydope@lemmy.world 55 points 1 week ago (1 children)

He's a buisinessman with a vendetta against multiple government agencies for trying to convict him. These are pure vengeance plays to humiliate the feds, destroy the peoples confidence in the country, dismantle what little power government had over corporations while making as much bank as possible.

America was already a corporatocracy in all but name but companies were willing to work with government to maintain the illusion that the old powers of federal government were still in control. Now trump is signalling that the mask need not be worn.

[–] ChillPenguin@lemmy.world 10 points 1 week ago

What confidence in the country? I feel like that's been gone for a long time now.

[–] grrgyle@slrpnk.net 34 points 1 week ago* (last edited 1 week ago) (1 children)

This is precisely what "disaster capitalism" is all about.

A very small number of assholes are about to get even richer.

[–] Braindamagedeluxe@lemm.ee 3 points 1 week ago (2 children)

Coolio, how can I be one of them?

[–] the_q@lemm.ee 6 points 1 week ago (1 children)

Wrong question and wrong perspective.

[–] Braindamagedeluxe@lemm.ee 4 points 1 week ago

Mom always says there are no wrong questions

[–] untorquer@lemmy.world 2 points 1 week ago

That ship sailed 2 months ago.

[–] pezhore@infosec.pub 27 points 1 week ago

I wouldn't doubt it. Who's going to successfully sue him? Issuing tariffs is smack dab in the middle of executive power, and SCOTUS has said he's immune for traditionally considered illegal actions if it's under the category of official acts.

He already did a rug pull for his crypto, time for the big bucks

[–] MirthfulAlembic@lemmy.world 17 points 1 week ago

Regular recessions are a boon to the wealthy vultures of the world. It allows them to snatch up more wealth from the desperate at a deep discount, since they can afford to weather a temporary downturn.

[–] Tyfud@lemmy.world 5 points 1 week ago (1 children)

I suspect you might have meant: Genuinely curious btw.

[–] Vertelleus@lemmy.dbzer0.com 6 points 1 week ago

Thanks, I fixed it.

[–] CouncilOfFriends@slrpnk.net 5 points 1 week ago

It's not a coincidence that 10 of the last 11 recessions started under Republican presidents; recessions are fantastic for the donor class. I encourage all to look this up, every Republican president since Benjamin Harrison, who served from 1889 to 1893, had a recession start in their first term in office. Recessions are the predictable and historically recorded effect of wealth redistribution towards those who don't have to spend money, versus a thriving economy which depends on broad participation from all.

Social safety nets we have all paid into and should expect to have available to us are persistent targets for the 'efficiency' crowd. If they can cut Social Security benefits and Medicare so that old folks can no longer afford their prescription medications and their homes are foreclosed, this is part of the temporary pain Republican politicians will tolerate on others' behalf. With the added effect of small businesses folding and valuable business property becoming vacant, it becomes the grand old garage sale of America.