are any wealthy people going to be materially harmed by the trump tariffs?
wall street is going down... so what?
will any of these ghouls be made homeless or is it all anxiety for them?
Petty boug definitely has been hurt badly by this. I don't know how it's all gonna play out but I definitely think this might end up being another 2008 situation, except at the beginning of Trump's term, as opposed to the end of Bush's term.
I feel like small-r republicans (constitution enjoyers, people who would like to see the US institutions persevere and the facade of liberal democracy preserved) have gotten very lucky in the past couple of decades. Every time things blow the fuck up in this country, it has been within arms reach of an election, giving tens of millions of people an outlet for their discontent and allowing the crisis to effectively be blamed on the outgoing administration. We've got a wild three and a half years ahead of us if shit starts spiraling now.
The ultra rich are putting the squeeze on the petty rich and they're gonna snatch what they ring out. The poor will bear the brunt of the economic instability and the most precarious will be left behind. It's a cruel calculation. Idk I'm just spitballing here of what evil logical people would be doing
I was thinking about it, and I think the only way they are harmed by the tariffs are if they are successful. If manufacturing was reshored to America, this would cause a massive swing back to industrial capitalism. With it, would come a kneecapping of financial capitalism, especially real estate speculation. Then of course there would be unions, a labor movement, etc etc.
Unfortunately, the rich will simply 'buy the dip' and make their money back and them some when the tarriffs go away. After draining workers' 401ks.
Every period of market instability ends with the rich ending up with a greater share of the total wealth, which is all that matters when you're that rich. Number goes down, sure, but they don't generally need to sell shares to survive.
Wall Street went down because the rich got out while the getting was good.
I was a programmer at a mid size tech company and they hit our department hard with layoffs today. Like a third of the staff who actually did shit gone, some of the best programmers too. The truly wealthy can just take from those beneath them before harming themselves. Then double count by taking a profit on their shares because they “fixed the financials”
Only if
Probably not in the grand scheme of things. In finance terms "buy low, sell high" so now is really just the low to buy and then before you know it they'll surge in price again.
I'll admit to doing some investing as a way of feeling like I'm getting some of my money back, but just buy some mutual funds and forget about it.
Anybody needing to tap into their 401k is probably going to be sucking for the next year or two.
sure.. but they'll survive
Tariffs are a sales tax, so no, especially since Trump seems to want to replace the income tax