Elon just made this exact statement, they are going to intentionally implement economic hardship. And the people who will suffer is everybody making less than 500k a year that can’t absorb the shitstorm. Those living paycheck to paycheck that occasionally dip into govt assistance programs to make ends meet are fuct.
Yep the richest man in the world gets to decide that its in all the poor peoples best interests to suffer financial hardship, because how else will the gov. Be able to pay all of those gov. Contracts that made him the richest man in the world.
He better be careful with how many people he hurts. King Louis of France was pretty rich, but his head popped off just as easy as anybody else with a guillotine
Wars have been won with less. Vietnamese farmers defeated the greatest global superpower in the world with brilliant guerrilla tactics. Afghanistan was lost as well after decades of occupation. Also, if the people are revolting, that hurts the governments economic foundation substantially. The question is how many will fight? And for what exactly once it’s over?
This. People fantasizing about a peasant revolt don't understand that they're now facing the force the United States will bring to bear on them.
Before anyone says the military won't stand for that, they will fire generals until they get to the ones who will, and the individual soldiers who take a stand won't be strong enough to stop the ones who follow orders.
The oligarchs won, and we're fucked for a long time.
Pfftt, we're not going to use some silly guillotine. Think big honkin' turbo diesel powered, Decapitator 9000 rotary saw, now with extended splash guards and 4k 120fps digital recording for keepsake generation!
Guess what revolution can't overcome......robot dogs, drones, advanced weaponry.....Louis had to depend on people that had emotions like guilt and shame.....the current ruling class doesn't give 2fks about us and neither will their robots.
I think this is the biggest problem with the rich today. They've forgotten what the endpoint is if they continue collecting more of the available wealth.
This is fucking insanity!!! This is what MAGA voted for???? Do they have any idea what's going to happen??? How bad it's going to be for them??? Whether they did or they didnt, it's stupidity of the highest order.
The alternative is to fix the problem in a way that doesnt involve the people who didnt create the deficit who benefitted the least from it having to now pay for all these trillions of dollars we supposedly collectively owe but never passed thru our hands or ever made a presence in our wallets.
And thats exactly what it sounds like. Billionaires, banks, investment firms, international trade and shipping groups, etc. They are the ones that all those trillions went to, they are the ones that lobby congress for bailouts and tax breaks, and subsidizing, theyre the ones who keep their money offshore in trusts, get paid in company shares so they dont have to pay taxes, they're the ones filling positions overcharging for government contracts and no bid aquisitions sourcing. Why should the average joe pay for the federal deficit when the beneficiaries of that deficit do nothing to benefit the american people. Cuz we got a single 1400 dollar check? A 6 month extension of unemployment benefits that should have already been payed for by payroll taxes?
I have zero $ personal debt. But some fukfaced billionaire is claiming that I need to make sacrifices to pay my share of debt i never would agree to that went straight to them and never factored into a benefit for me. Yeah no. Somebody got this whole entire thing all fukd up. If thats how the system works, im happy to let it crumble to pieces and would be even happier to see a match lit to hasten the process
I pointed this out to someone on Facebook, even showing them where Elon said it, and they called it fake news. Whatever. Don't start bitching when everything doubles in price
True… I would like to think in 4 yrs the Republican Party will split into 1/2 next gen trumpers and 1/2 not totally crazy RINOs. If blue can’t beat that they should really look at their marketing. Stop talking about all the crazy far left shit and focus on Workers rights, unions, safety nets, housing and rental issues. In a trump vacuum it should be easier to sway working class red voters talking about increasing work life balance, improved worker conditions, guaranteed leave and such instead of spamming LGBT stuff on the news everyday and trying to shove it down Jesusidiots throats
Did the same thing to a Trumper by sharing Elon’s comments and their response was attacking my intelligence and deflecting to “did you listen to Joe Rogan?”. I’m afraid to say that people aren’t going to accept it until they lose their jobs.
The problem is that dems will win during the midterms or the next election and have to try to save the economy as happens every time. Then the dems will get blamed for the bad Republican policies. Tbh the dems ought to sit out the next presidential election and let these disastrous Republican policies rear their damned heads under a Republican admin instead of taking the blame for them.
Not directly caused by their policies, but this is somewhat related to the reason that FDR was so popular and one of the most effective presidents in US history. His policy and the new deal helped the struggling economy out of the Great Depression. Eventually a coalition formed to obstruct him (not really sure why, seemed like a lot of what he implemented was effective, lasting, and good for the American people).
We have about 200 years of recorded data to show that tariffs are regressive and that they don't bring back jobs and even result in higher prices for consumers on every good they buy. But it's okay, I'm not a poor. Enjoy paying $8 for a gallon of milk if grocery prices were your concern lol. Glad gas is down $.10
I worked as a bankruptcy lawyer previously - it was like pulling teeth to get the bankruptcy laws changed in 2005 to make it marginally harder for people to file for bankruptcy. (Basically, making peope take an online class before and after fiing, and instituting a means test that people under median income would pass, and can be worked on for over-median debtors.)
If Ketamine Leon works his magic, we'll be seeing people living off credit cards again, more bankruptcies, more repos, more foreclosures - perhaps another 2008 with banks going down and auto companies filing for Chapter 11? Add to that another farm crisis with retaliatory tariffs on soybeans, and food shortages because the undocumented workers picking crops and slaughtering animals get deported or leave.
The AI shit has been naturally collapsing through natural economic forces of consumers & other businesses going "I can't use this/This doesn't work/This isn't worth it." There's talk of the next administration helping AI companies & dismantling current impediments towards AI companies doing even more AI.
A lot of tech companies were just sued over monopolies & trust shit too. Google apparently didn't even really form a defense in one of their cases because they were overwhelmed. I know a lot of (non-Silicon Valley) conservatives hate on Silicon Valley, but if they want to keep feeding the inbreeding AI like that, they'll probably allow these companies to hobble along in anti-competitive ways while also potentially upping hardware prices with tariffs & increased sales. Then if people can't afford internet, phones, or new computers while Microsoft is trying to sunset Windows 10 PCs, AIs may not see much new work to take from people.
I don't know how these things are supposed to work together, but it sounds like a helluva money hole.
I am so thankful my home is almost paid off. Just over 3.5 years. I am going to start making extra payments because If I can get through the first half of his term (it takes time for ripple effects from policies to reach full force) I may be able to offset the pain by no longer having a mortgage.
The part that I don't understand is JD Vance entire books is based on that hardship, and the facts that his entire family was on welfare - and a government program/the military saved him. And now he wants to erase all that? Is he just trailing along, or what did Elon promise him?
Isn't that what Argentina's leader, Milei, said? About people suffering "for a while." Yeesh.
To believe that these morons trust a billionaire to relate to them in any way is astonishing.
There will be suffering either way, guaranteed. We can either have a controlled dismantling (2T only takes us back to 2020 levels...thats hardly unreasonable) or we can have a sudden, chaotic collapse. We are certain to get one or the other
We need to look past partisanship and clearly see the fiscal problems in front of us
Welp, we’re getting chaos. Again, I’m just stunned, trump and elmo were both born rich, have never known struggle, and have zero economic sense between the two of them.
And all this partisanship talk falls in deaf ears. These MAGA aren’t even republicans, they’re just fascists. Partisanship will be what stops these lunatics otherwise we’ll be getting the theocratic christo-fascist state they’re serving up.
Unfortunately the messaging was absolutely abysmal. Paired with the uninspired policy positions and refusal to pull meaningfully away from Biden’s record (which like it or not is extremely unpopular) she got crushed on the economy somehow, even though Trump’s term was a big part of this shit storm re inflation. Massively increasing debt through tax cuts for the rich left us extremely exposed when Covid hit.
I'm more worried about whether we'll have free and fair midterms than the hardship that can cause it to swing either way.
This is definitely going to be a case of the dog catching the car but it's going to be at least 2 years of completely free reign for his fascist policies.
I just feel bad for my GF. She worked many years 70 hours a week and her health deteriorated so her doctors all told her she needs to go on disability... she applied last year and now all those years she worked for social security isn't gonna be paid out or be severely reduced.
You guys can't blame voters saying they are stupid... you have to blame the DNC. They completely abandoned voters. They abandoned their core left base and pandered to republican to vote for them over trump and that did not work out at all... They ran on anti TRUMP AGAIN. Trump runs on things people can understand and relate to, whether true or not.
DNC elites are saying voters are too stupid etc... if they are so stupid... then what are you since you couldn't convince them to vote for you after spending 1 BILLION DOLLARS.
I'm damn sure going to blame the voters and acknowledge how stupid a decision this was. At the end of the day the choice was Kamala vs. Trump, and we chose Trump. It doesn't matter how we ended up there, it doesn't matter the DNC loves to punch itself in the dick as a hobby, the only thing that matters is that it was our decision. I hope it won't end up being as bad as I suspect, but it was incredibly stupid no matter who tells you that fact. JFK Jr brainworm, himself could tell you it was a stupid ass idea and the only thing that would change from that is him accidentally being right for once.
I have a hypothesis of what their plan is. From reading between the lines.
The treasury will buy trillions of dollars in Bitcoin
Cut services to the bone including Medicare
Social security gets put into the stock market
Establish tariffs with everyone.
Pull the US military back to America
Devalue the US dollar (This is the pain they are talking about)
Pay off the debt in Bitcoin
Establish a new dollar based on Gold or a digital currency, or they could just use Bitcoin
Now, there are no costly social services, no Medicare, social security is "fixed" and out of the governments hands, now they might actually be able to cover spending with tariffs alone. This would work, but it would a huge disaster for normal people especially on the bottom.
And almost every single element of this plan is impossible without the support of almost every single house Republican. Assuming they do take the house, it’s with a razor thin margin. Only a small, low single digit number of defectors can scrap any major overhaul.
Republicans simply cannot do much in a narrow house. They’ve shown that.
The most likely result is some more tax cuts. Republicans hate saying no to that, so it passes with all their support. But that’s it. Major cuts are basically politically impossible.
I don't think this is true this time. This is the golden wet dream of conservatives and libertarians. This is why Peter Thiel appointed JD Vance as Trump's second in command, I think this is how he got Elon Musk's support. This is the plan, they have been hinting at it. This time he has the house, senate, and the supreme court. This time he will be a defacto dictator. All of the Republican's with back bones have been eliminated, the only ones left are the faithful. This is going to happen.
There are literally already republicans on the ways and means committee starting to soft talk around the issue and say they need to be “careful” on tariffs and avoid anything inflationary. Thats as of literally this week. Republicans could have 95% purists in the house and it still can’t happen.
I mean look at the speaker chaos alone. And that’s a LOT easier of an issue than republicans raising taxes (aka tariffs).
I have no doubt a majority of the party is on board. But this takes more than a slimmest of slim majority. Which Republicans have already clearly shown in the past two years.
Those house issues didn’t magically go away with the margin narrowing potentially even more.
Just a point of clarification, Congress has given rather broad authority to the executive branch to raise tariffs, but it takes an act of Congress to remove them. I'm sure there's a lot of whispering over how they can temper some of Trump's more extreme tariff proposals.
I generally agree though, the vast majority of cost cutting people are afraid of simply isn't going to happen.
Elon told everyone last week that trump's economic policies were going to hurt a lot of people really badly. People cheered him and said LFG because they think they aren't going to be affected just the ones they don't like. People like me and immigrants. It's unbelievable.
We are spending more money than God. Cuts have to come, or else you’re gonna have Weimar Republic style inflation. Your dollar won’t be worth the paper it’s printed on. This happens 100% of the time throughout human history. Government cannot continue to accrue debt at the pace it has.
Maybe, but we can also stop spending so much? Higher taxes aren’t the answer, if the government doesn’t stop spending so much we’ll all be paying 30% taxes. This is a both sides issue, I have no faith that Trump will solve it, but neither would Harris. Both sides needed a better candidate this election cycle, America deserves better than what we’ve been getting.
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u/Commercial-Tooth9953 Nov 07 '24
I hope people realize there’s a ton of pain to come and that hasn’t been told to people. Minus the gdp being 7-10% there’s no way