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/lordlaneus 21h ago

This has more or less been going on for decades, but Trump's plan is an escalation in how bold the billionaire class are getting.

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u/mcSainzz 21h ago

Plz provide sources

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u/lordlaneus 21h ago edited 17h ago

I can't say when it became deliberate, but we've had a recession about once every 10 years for a long time, and rich people have figured out how to profit from them. https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States

edit: whoever down voted mcSainzz, don't be a jerk. Asking for sources is important.

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u/blurry_forest 17h ago

Growing up, I remember my teachers would occasionally allude to this - the wealthy become wealthier during recessions, because they buy cheap stock. I just didn’t understand how, until the pandemic happened.