literally pump-and-dumping the stock market
Comment on Saint > Pope
toadjones79@lemm.ee 17 hours ago
*Textbook economic collapse.
Literally exactly what all economic textbooks say would happen if you did what he did.
Which is why I think it was all on purpose. They are driving the market up and down predictably. Stocks keep surging every time there is a “leaked” rumor that he will pause tariffs.
witchybitchy@lemm.ee 14 hours ago
KreekyBonez@lemm.ee 16 hours ago
the grift that keeps on grifting…
a small number of wealthy Americans riled up a large number of poor Americans, using single-issue voter tactics that prey on irrational fears, and gained control of more wealth and decision-making power than they know what to do with.
I can’t fathom what the point is, other than some doomsday scheme, where they plot to outlive us poors with hoarded resources, and the remaining bootlicker class as slaves.
HK65@sopuli.xyz 16 hours ago
I think Trump himself just likes to be in the spotlight and also evade prison.
As for his backers, they want the collapse of the US (and nation states in general) to found company town-esque technocratic city states.
lmmarsano@lemmynsfw.com 4 hours ago
Occam/Hanlon’s razor: it’s stupidity with opportunistic grift.
Project 2025 had pro- & anti-tariff proposals (they were split on the issue of fair vs free trade & argued both). This administration is running wild with the pro-tariff proposal, which ties tariff imbalances to trade deficits (seen this theme before?).
While the fair trade camp argued higher tariffs would somehow create jobs, the free trade camp called for realism & skepticism
countered that no trade policy (fair or free) creates jobs
and argues more inline with textbook economics about trade, comparative advantage, specialization.
Interestingly, the free trade camp gave a brief history lesson about the interconnectedness of the economy from its agrarian beginnings
through the loss of jobs from agriculture to industry increasing the output of both
to argue that jobs in a particular sector are the wrong measure of value
growth increased as service sector surpassed manufacturing
economic decline based on manufacturing is a myth that disregards the big picture
trade leads to specialization that affects the types of jobs, not long-term employment level
declining tariffs in the post-war era made this continued prosperity possible
That position was too nuanced for this administration.