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Are Trump's tariffs supposed to "make America rich again" or put stocks on sale for bottom feeding billionaires.

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my2sence

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The tariff induced market crash gives billionaires & insiders a way to steal stocks from panicked sellers.

Will the tariffs hold or are they a transient market manipulation that will go away as soon as the fat cats & insiders have pigged out on the carcasses of the small investors.
 

I'm curious: are you under the impression that tariffs which, at least in the short term, destroy the stock market and finance class, are an intentional move by the capitalist elite? What's the idea here? That in the short term they take massive losses but in the long term they gobble up what the other 99% own, which is pretty much nothing anyway?

Bizarre angle. It seems like they do great in a financialized economy. Why shouldn't Blackrock be more than happy to continue working with investment and venture capital to seize assets?
 
The latter.

Definitely the latter.
 
These tariffs seem to be one of three things:
1: trump is just stupid and drunk on power
2: Trump is just insane
3: a plan to fundamentally change the global economy to benefit Trump's benefactors.
 
SCrider said:
3: a plan to fundamentally change the global economy to benefit Trump's benefactors.
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Who would you call his benefactors? Musk? Thiel? How is venture capital helped by a devastated stock market and highly skeptical investors?

SCrider said:
1: trump is just stupid
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This is the most likely of the three, although I don't even think this is very descriptive.
 
SCrider said:
These tariffs seem to be one of three things:
1: trump is just stupid and drunk on power
2: Trump is just insane
3: a plan to fundamentally change the global economy to benefit Trump's benefactors.
Click to expand...
4. An ill advised plan to TRY and bring back manufacturing to America
The issue is twofold....one, it is a very long term plan if it would happen, and two, automation will beat him to the punch. It is already occurring in so many of the plants around the world as we speak....what will it be like 10-15 years from now.

I think i understand WHAT he and his cronies are trying to do, which is somehow bring the trade deficit into a more reasonable number. The problem is the way he is trying to accomplish said goal. We cant continue to add another trillion in trade deficits annually....America is being sold off in piecemeal as it is. But the tariffs, and the way his administration threw them out there is probably one of the worst ideas i have seen.

This needed to done through trade agreements....and one country or region at a time
 
Problem is there is no trade deficit like he thinks there is.
which brings us back to my 3 options.
 

Yeah, but that takes planning, hard work, and an understanding of how things work. If there's anything this administration has shown us, it has none of those qualities. DOGE could have been a good thing, under Clinton they cut government waste by studying where it was falling short and it was a popular move.

This administration seems to wreck havoc and then take the afternoon off to golf.
 

I posted this a couple of months ago.

 

You seem to be making the assumption that that the rich won’t do whatever it takes to get even richer and more powerful, especially when it is at the expense of the other 99%. They are constantly consolidating more money and power, and it is always at the expense of the 99% who are getting poorer and have less power. The rich do best when they run everything, and Trump is their surrogate that they hope to use to do this. If the 1% were satisfied with what they have, they wouldn’t keep trying to get more. The tariffs hurt everyone without the resources to withstand the negative impact, but the rich vultures will be able to survive and feed off of the remains. That is exactly what investment capital companies are already doing. They feed on failing companies and make money from it. It is called vulture capitalism.
 
Recessions make billionaires richer. That is a proven fact. Trump is creating a recession or a possible depression for several reasons but one of them is to help the billionaires. The other reasons are far more nefarious but the important thing is that it will cause pain and suffering for millions of people. That gets Trump off and probably improves his golf game too.
 

OK - but the capitalist classes wealth is concentrated almost entirely in stocks, finance, and investment capital. The peasantry (us) has almost zero wealth concentrated in the stock market. All of our wealth, what little we have, is in hard assets which are far easier to gobble up by companies like Blackrock when the stock market is booming.


I don't support Trump and I don't support tariff's being applied in this fashion, but there is zero evidence to support your claim here that Trump is doing this to serve billionaires specifically.
 
my2sence said:
The tariff induced market crash gives billionaires & insiders a way to steal stocks from panicked sellers.
Click to expand...
The tariffs didn't cause any market crash. Tariffs didn't cause anyone to sell. You hit the nail on the head: "panicked sellers".

And there is absolutely no reason for anyone to panic.

my2sence said:
Will the tariffs hold or are they a transient market manipulation that will go away as soon as the fat cats & insiders have pigged out on the carcasses of the small investors.
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Trump imposing the tariffs has nothing to do with the stock market.
 
LOL Does being laid off from you job in a recession affect your finances? That is why the stock market is going down because millions are going to be laid off.
As far as the rich benefitting from recessions....

About $42 trillion in new wealth was created in the first two years of the pandemic. Two-thirds of that has gone to the richest 1% of the world’s people, according to a report out Monday from the nonprofit organization Oxfam. In the United States, billionaires are a third richer now than they were before the pandemic.

It’s no secret that it’s a lot easier to make money when you already have money.

“So much of what typical people in this country have is based on their income and what they make in the labor market,” said Elise Gould at the Economic Policy Institute. But that’s not the case for the superwealthy, she said.

“Those at the very top are making kinds of investments because they have the money.”

Investments in real estate, in companies, in the stock market, all of which have gained a huge amount of value in the pandemic.

https://www.marketplace.org/2023/01...eople-became-much-richer-during-the-pandemic/

Who Wins In Recessions? The Rich And The Lucky​

While virtually everyone else has been struggling through the COVID-19 recession, billionaires have done well between March 18 and May 19. According to a report from the Institute for Policy Research and Americans for Tax Fairness, U.S. billionaires’ wealth grew by more than $400 billion over that period.

Consumer spending is down 7.6 percent in the first quarter of 2020 from the last quarter of 2019, but composition of consumer spending has changed. The demand for online shopping and news exploded Jeff Bezos’ wealth by over 30% to $148 billion (Bezos runs AmazonAMZN -9% and owns the Washington Post). His ex-wife’s wealth grew even more, by 33%. Bill Gates, Mark Zuckerberg, Warren Buffett, Larry Ellison, Michael Bloomberg, and some Walton heirs also have done well in the two months since the shutdown orders in the United States were put in place and an estimated 50 million Americans have lost their jobs.

https://www.forbes.com/sites/teresaghilarducci/2020/05/25/who-wins-in-recessions-the-rich-and-lucky/
 
We don't know what the Trump family and the people close to this have done or what they've done with their assets. For all we know they've bought a ton of gold.

I don't think it's a mass capitalist class thing, but some sort of smaller cadre of Trump insiders doing something totalitarian regimes would do in say Russia.
 
Lursa said:
I posted this a couple of months ago.

View attachment 67563672
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I think humankind has one possible Hail Mary to avoid a horrid dystopia that will likely lead to complete collapse or even extinction:

We all get together, pick a billionaire’s name out of a hat and give them all of our money.

That way we’ll finally have a “winner” of capitalism.

And maybe we can do something else with our lives and the world than facilitate that game.
 
 
gdgyva said:
It only works if during the market drop, the little guy was selling his shares
If it was some other rich guy who was selling that theory doesnt work
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That's the point, or one of them. That panic. The rich wont or are less inclined.
 
iguanaman said:
LOL Does being laid off from you job in a recession affect your finances? That is why the stock market is going down because millions are going to be laid off.
As far as the rich benefitting from recessions....
Click to expand...

Guess what assets class was the most lucrative (outside of the stock market) during Covid?
 

I would say this is not being done by the capitalist elite necessarily. When we are talking about Donald Trump and his inner circle, we are talking about a few very greedy, rapacious, amoral and, let us be clear, not-that-bright individuals.

This isn’t evil genius here. This is taking advantage of personal power to further self-enrichment with little to no strategic thought put in beyond “We’ll cause the dip then buy the dip!” which tracks for Donald Trump and his coterie
 
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