r/technology • u/DontFearTheCreaper • 1d 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/Facts_pls 1d ago

You assume everything will be fixed in 10 years?

Donald said he is thinking about running another term. You about to become a dictatorship

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u/Significant_Turn5230 1d ago

Yeah, but it's a dictatorship in service of capital. It's reasonable to assume that the stock market performance will be the last thing to crumble under his fascism. One way to (incompletely, imo) describe fascism is to call it the marriage of the state and corporate entities. They're going to privatize the whole government so that they can extract profit from it, it will make our lives worse in every way, but it will ostensibly make the stock market go up.

Of course, the real problem is, we'll all end up selling everything we have to survive the turmoil along the way. They'll remove the penalties for cashing out your 401k which will give us a bunch of money to spend, bost the economy suddenly, and then leave us working until we literally drop dead.

But I do think the stock market will be up again. That's not going to be a sign that anything is fixed though.

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u/splitsecondclassic 1d ago

Respectfully, I don't really agree. I think that regardless of who may have the office of prez that if the budget isn't reeled in and job creation is fixed that all 401k's, pensions and IRAs would be seized to pay off the debt. Last numbers I saw said that there's about $34 trillion stashed in those kind of accounts. that's a budget clearing figure. Most would say that no president would do that but it's already happened in 4 or 5 democratic nations in the EU and one in South America. I don't have to agree with the method of fixing the problem but nobody can sit back and believe that there's not a problem to fix it. I haven't seen any of the modern era presidents attempt to fix it. You can find videos of Clinton, bush, Obama, Hillary, Pelosi and Schumer all ranting about how it needs to be fixed but none have made SIGNIFICANT moves to do so. The only thing Americans can do is buckle up and wait to see what happens. I can tell you that being in other countries won't make life easier. If the USA shits the bed the rest of the world will follow.

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u/Significant_Turn5230 1d ago

that all 401k's, pensions and IRAs would be seized to pay off the debt.

Bro, you are insane, lmao.

If america needs to pay off its debt, it can literally just print the money to do it. Our national debt is 100% meaningless.

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u/splitsecondclassic 1d ago

quite sane here. by printing, it causes the money supply to increase, thus.....inflation. By extension, more debt.

seizure (in the name of patriotism and national security via a sound economy) equates to zero debt.

You can call me names but it's obvious that most here only watch the news and that's how they form their opinions. this has already happened and to a degree you're at risk in the US of this taking place. Please don't levy insanity accusations at me until you fully understand what's happening mmmmkayy? thanks.