r/technology • u/DontFearTheCreaper • 20h ago

Social Media Tech CEOs who grinned behind Trump at inauguration lose billions in wake of tariffs

https://www.independent.co.uk/news/world/americas/us-politics/trump-tariff-bezos-musk-zuckerberg-b2727147.html
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u/a-base 20h ago

Much like the 2008 housing crisis in the US, these things tend to work out very well for billionaires - at a cost to the poor, lower- and middle- class.

  • Their losses are just theoretical, it's not like they have to cash out their stocks or sell assets and take any real loss.
  • Even with these 'losses' they are still billionaires and can access cash in numerous ways. They can quite comfortably ride out any period of instability.
  • More likely than riding it out, they'll use it to their advantage. With markets crashing they are perfectly positioned to swoop in, scoop up anything they like, and make out like bandits.

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u/clueless_as_fuck 20h ago

It's pretty obvious at this point that this is the plan.

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u/Pantim 19h ago

Yeap, that. 

It would take a total idiot not to see this crash coming from the policies Trump was proposing during the election. These people are not idiots.

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u/StoicallyGay 18h ago

Too bad the MAGA crowd thinks everyone else are idiots for understanding the very very basic macro-economics that follow literal cause and effect logic. Because their argument is "short term losses for long term gains!" or "Trump has a plan and I trust him" AKA "we have no fucking logic or reasoning or reason to believe anything will work how we want, we just d-ride Trump forever."

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u/mloofburrow 4h ago

Well, I mean it is short term losses for long term gains... For people who can afford to ride out the short term losses and invest while things are low...