Fascism has come to America, wrapped in a flag and carrying a cross.
Documenting the crimes and corruption of the 47th president of the United States and his fascist minions.
Here we go again.
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Liberalism, noun - "A political theory founded on the natural goodness of humans and the autonomy of the individual and favoring civil and political liberties, government by law with the consent of the governed, and protection from arbitrary authority."
Don’t worry, they will recover multiple times that amount when the ship steadies as they’re probably busy acquiring assets at rock bottom prices that they’ve caused by supporting the Trump presidency.
I’m hazarding a guess and would love for someone to fact check this but every time there is a recession I feel the rich get richer and everyone else loses.
Not just recessions, but the pandemic was a huge boon. I guess any crisis that hits the market just right will get milked by these assholes.
You know that thing where chatbots talk to each other and it gets progressively more and more nonsensical and bonkers?
I imagine a scenario kind of like this, but with billionaires telling each other that they're billionaires and it's fine to loan money because they have speculative collateral. So billionaires will borrow from billionaires who cover the bill by borrowing from other billionaires who borrow from the first billionaire I mentioned, all because "they're good for it. Look at how much stock they own."
Meanwhile they all have functionally nothing in liquid.
When people are hurting is when it's easiest to take advantage.
Yes, 100%. They only lose money when they sell their shares at a loss. And I am sure they would only do this in ways that benefit them financially.
The billionaires will do just fine. Their companies may use this as an excuse to do some layoffs though.
Hell yeah. Just filled my Amazon cart with $3000 of good that I’ll never buy just to fuck with their inventory and I’ll schedule a test drive for a Tesla tomorrow that I won’t show up for to celebrate
Everyone ITT is cheering but my retirement account has taken a fucking beating for the same reason. The billionaires aren't hurt by the stock market falling through the floor, it's their slaves that are. A year ago I had a chance at retiring a little early. I don't see that ever happening now.
Millennial checking in: you guys have the chance to retire?
Who were the people pushing for 401ks instead of pensions again?
I've no idea? I have no choice in the matter either way. I'm just watching Trump destroy my future and seeing it cheered because it supposedly also hurts billionaires (it doesn't)
It's the billionaire business owners. They want you to have a false class solidarity with them given your pittance fraction of the market, while giving their own assets higher valuations.
You're getting screwed, don't get me wrong, but there's a reason why.
This is also a response from a place of powerlessness. You can't blame people for enjoying the tiniest fraction of schadenfreude when they're getting constantly fucked by this system.
Yeah I understand that today's retirement accounts save these assholes money. I happen to work non profit but they influenced society such that 403b is basically the same.
I would agree with you about the schadenfreude, but it's not real. I have health and mental issues that could be greatly relieved by working 5 less years of my life. To these fucks, losing 20 billion dollars is nothing but a dick size thing. They don't have to worry at all and they don't have to work at all to begin with
It's not just about saving them money. It's about breaking working class solidarity by forcing our interests to align with theirs.
OH OH, ME, PICK ME! Was it Republicans and business owners?!
Welcome to the club. Us millennials never had the plan to retire.
I moved my 401k from 100% stocks to 100% cash equivalents 3 weeks ago... the writing on the wall was right there
Now you are invested in dollars instead of stocks, but the writing is on the wall for the dollar as well. Just wait until all our former allies start dumping their dollar reserves.
Unless you are retiring soon, this isn't particularly important. For anyone still in the grind, this just means buying the dip.
But it sounds like you are retiring soon, and need more stable investments. I wish you luck on that.
Many good people in Ukraine don't have that problem anymore, because they're already dead as a result of Trump's decisions :/
And yes this isn't the most monstrous thing trump has done. Hanging Ukraine out to dry is unconscionable, but this post was about economics. The thing trump promised to be good about and he was believed. He's nuking our economy from orbit and no one can help us. It's as though he wants to hurt everyone "beneath" him.
Stock market ain’t nearly the same gamble when you have enough money to sway it.
All my investments are in the net negative now, thousands of dollars wasted, and I will still tell you this is the right direction for the human beings living on the planet. We really don't have forever to keep being crushed under their weight.
I'm a European that was heavily invested in British defense stocks. When your boy and his mutt attacked Zelensky in the whitehouse i bought more of them and expanded to Europe as a whole.
Trump throwing the American Economy and Hegemony against the wall has been great for me.
My portfolio has grown 20% since you numptys voted him in.
Hey buddy really quick, don't ever fucking call that demon my boy again. If I was in the same room with him, it would be worth spending my life in prison to end his sorry existence.
Billionaires can afford to lose 209 billion because they can buy up the rest for cheap when we're all destitute.
After first having gained $300 billion? Y'all know that the stock pumping started two months earlier than Jan. 20?
Way to steal joy from me. But you're right to point this out.
Could only wish that caused them as much pain as the average American, Canadian, Mexican, European is getting walloped with every day under Trump.
The 1st rule of Applied Spite: If you're going down, make sure to cling to the bastard who pushed you off the edge.
If you're linking to a paywalled site like bloomberg, could you please provide the text in the post, or link to a archive.org copy? All I know about this is the title and the first paragraph of the article. Frustrating.
It’s always a nice headline to read at first and then you remember the real gut feeling is only felt when the losses are paired with a working class salary.
When you go from 400b to 200b, it literally changes nothing about your life like losing 15k when you have 30.
It may be dangerous to be america's enemy, but to be america's ally is fatal.
And their quality of life has been completely unaffected, unfortunately.
Those MF are shorting the market right now making billions on the process. Once market hits rock bottom, the will buy back everything at the cheapest price and end up making even more on the way up. There's really no way to hurt them on that matter. As most people are saying, the only people being hurt from this is the working class.
I mean, stocks go down they could have been the ones that sold their shares and are holding cash now moving the market. Would have been much easier to have just taxed them so they really lost 200 billion and it was put to good use.
I wish this would only damage the billionaires.
Yeah. It’s a little bit of a misleading article, to be honest. They didn’t “lose” anything. Conditions changed for them, and they’re planning to clean up on a bunch of undervalued assets once this entire bullshit is winding down (whenever that happens), and they’ll wind up hugely ahead of where they started out.
There are other possibilities of course, but all of the other possibilities that I think are realistic involve complete collapse. Which they will, almost certainly, be positioned to survive much better than the average peasant will.
Don't let them take it back
$200bn of ownership has NOT changed hands.
They've just had a property revaluation.
It's a good start but not nearly enough.
oh no. Has anyone called Jeff? is he ok? Should be start a crowdfund?
He already has a crowdfunding, it's amazon
That’s a start, I guess.