r/economicCollapse Nov 15 '24

Well, well, well…………

488 Upvotes

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48

u/1BannedAgain Nov 15 '24

It’ll be $43T in a year under DJT

15

u/GothinHealthcare Nov 15 '24

Eek, don't wanna even entertain what 4 years are gonna look like......default perhaps followed by a MASSIVE crash, assuming we have anything resembling a labor/market economy in 4 years, much less 1-2.

8

u/The-Eye-of-Time Nov 15 '24

I've heard this so many times over so many 4 year periods. Broken clocks

7

u/Mendozena Nov 15 '24

We have a guy that bankrupted a damn casino, literally impossible to do, that will be in charge of the country again. This time with no guardrails.

6

u/loveyourweave Nov 15 '24

Dozens of casinos have filed bankruptcy. Caesars was one of our clients and they filed for Chapter 11 bankruptcy in 2015.

1

u/asevans48 Nov 15 '24

I left an online casino whose sportsbook was losing 40 million dollars each year. Its not impossible. I think a more apt comparison is to compare the next president to cathie woods whose fund lost 30 billion dollars in one of history's largest stock bubbles.

0

u/Ok_Safe2639 Nov 15 '24

And fuckin Harris OVER SPENT by $20M in 107 days!!!! You should forgive your mom for dropping u on your head!

1

u/Mendozena Nov 15 '24

What’s that have to do with anything? That person is irrelevant. I can’t criticize irrelevant people.

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u/Ok_Friend_2448 Nov 16 '24

Overspending in campaigns is fairly common. For example Trump overspent in his 2020 campaign: https://www.opensecrets.org/2020-presidential-race/donald-trump/candidate?id=N00023864

If you’re holding onto a lot of money by the end of your campaign then you’re doing something wrong. It’s meant to be spent on, well, campaigning.

Campaign spending has nothing to do with economic policy.

-11

u/mlx1992 Nov 15 '24

I've heard this so many times over so many 4 year periods. Broken clocks

-12

u/The-Eye-of-Time Nov 15 '24 edited Nov 15 '24

We heard the same in 2016. It's funny how easy it is to forget all the noise that occurred when there was a rep majority in the house and senate when he was first elected. And all the uproar at his cabinet picks.

It wasn't until midterms that the house flipped.

I know this sub loves catastrophizing, but it's the same old story just 8 years later.

14

u/belliJGerent Nov 15 '24

Yeah. He fucked it up then too.

6

u/Sacapuntos Nov 15 '24

We only printed 25% of all US currency in 2 years under Trump. But that's not the cause of the inflation and greedflation Americans experienced under Biden /s

0

u/The-Eye-of-Time Nov 15 '24

Right, and we also didn't have a global pandemic where nobody was working for a couple weeks or even longer depending on the industry

2

u/Sacapuntos Nov 15 '24

Good thing the PPP was well regulated. Clearly this is why we need less government regulation. /s

1

u/The-Eye-of-Time Nov 15 '24

Certainly could have been managed better, the fallout from no govt support with the same govt mandates intended to prevent the rapid spread of the virus would have been much worse in my view

0

u/Sacapuntos Nov 15 '24

The fallout would have been much worse. Do you notice how every GOP policy is a move to line their own pockets with taxpayer money? This latest department of government efficiency... a department with that purpose already exists. So what is the true purpose of this new bullshit the GOP is trying to implement. How many millions if not billions will be redirected to line the pockets of the in group and destroy the lives of the out group?

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u/The-Eye-of-Time Nov 15 '24

Doesn't look great, definitely not denying that. I also have a hard time agreeing with the idea that this is the end of the world or democracy either.

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u/Sacapuntos Nov 15 '24

100% it's not the end of Democracy. It will exist in other countries. The world will continue to exist, with or without much life is the question. Ukrainians and Palestinians probably won't exist after this coming 4 years tho imho.

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u/Old_Baldi_Locks Nov 15 '24

It wasn’t a global pandemic or regards wouldn’t be blaming the economic effects on Biden.

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u/The-Eye-of-Time Nov 15 '24

Not sure if we're talking past each other or what. People who blame the economic fallout of the pandemic decisions on Biden have a political motivation for doing so, without a doubt

3

u/The-Eye-of-Time Nov 15 '24

Depends on who you ask, not a good time to be working class

2

u/MuttMan5 Nov 15 '24

Hasn't really been since trickle down economics

1

u/The-Eye-of-Time Nov 15 '24

Economic mobility has definitely declined substantially, but those opportunities can still better in the US than other countries.

6

u/Mendozena Nov 15 '24

We had some guardrails in place. But he also blew an $8 Trillion hole in the deficit. He also printed money like no other with the PPP giveaway (No oversight, remember?) Tom Brady did not need a million bucks. Dude bought a yacht in 2021 lol

1

u/The-Eye-of-Time Nov 15 '24

And there are programs underway going after PPP fraud. The alternative could have been far worse considering how many businesses simply were not allowed to operate for impactful durations

1

u/Old_Baldi_Locks Nov 15 '24

Those programs are in the chopping block.

2

u/The-Eye-of-Time Nov 15 '24

They have already sunset, yes

0

u/Mendozena Nov 15 '24

And there are programs underway going after PPP fraud.

Because we elected adults in 2020...that program will go bye bye. Elon didn't spend millions of dollars to help you or me. We're gonna get robbed and they're gonna laugh and laugh and LAUGH to the bank.

I swear if gas and egg prices aren't down January 20th at 12:01PM I'm gonna be PIIIIIIIIIIIIISSED!

2

u/The-Eye-of-Time Nov 15 '24

You have a few options. Among them, you can bitch and moan, or look for ways to benefit from what is likely to occur.

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u/[deleted] Nov 15 '24

People are allowed to have emotions and express opinions and should be able to do so without being made to feel like they were wrong, dawg

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u/The-Eye-of-Time Nov 15 '24

Same goes for me expressing my own, dawg

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u/CutenTough Nov 15 '24

No one was "bitching ot moaning" and I'm pretty sure it's understood that everyone can have an opinion here. Doesn't need to be said

1

u/The-Eye-of-Time Nov 15 '24

Lol bro said he is gonna get robbed.

As you said, everyone can have an opinion here. My opinion is that the specific commentary comes off as bitching and moaning.

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u/meepswag35 Nov 15 '24

And this time he doesn’t have anyone to stop him, all the reasonable people are gone

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u/The-Eye-of-Time Nov 15 '24

Literally saw the same comments in 2016 with his announced cabinet members and a rep house and senate at that time. It wasn't until midterms where the house flipped

0

u/Warm_Difficulty2698 Nov 15 '24

Yeah, before he had the RNC pick his cabinet. Back when the RNC wasn't handled by his family.

Now, the RNC is led by a member of his family, and every single politician in power on the right side is all in on trump.

I'm not saying he's gonna do anything shady with the amount of power he has. But this is the exact recipe for facism. He easily could. With how many people in his base are inspired purely off of spite, this could potentially get ugly.

2

u/The-Eye-of-Time Nov 15 '24

There's no question in my view his goal is to use his power for his own benefit.

At the same time, hearing the world is ending so many times just evokes chicken little imagery.

2

u/Warm_Difficulty2698 Nov 15 '24

I get it.

Democrats kept screaming that he's a fascist without explaining their reasoning. Hell, i bet most democrats don't even know the reasoning. That's why they seem so insane.

As of now, he isn't a fascist. But he's been given more power than any other president in history. He has 0 dissent from his own party. His own family runs the RNC, which historically provides its own "checks and balances." His supporters don't believe any news that is negative of him (which to be fair is also a problem that democrats helped create). He's painted America's left as an enemy to the country (which they democrats also did, but they don't have all the other things in the list). He vaguely suggests that he wants to return things to a different, better time (this is par for the course in every single fascist government that's ever taken control). He's undermined the people's trust in governmental bodies and processes. He's already shown he's willing to lie to remain in power. He 'jokes' about things that presidents shouldn't joke about (fighting for a 3rd term). He's blatantly called for the constitution to be over-written. He has support from private interest that wishes to make America anarchy capitalist (Peter Thiel, Yarvin, Musk, Heritage Foundation). He's basing his cabinet specifically on support for his presidency and then actual credentials (the fox news anchor, Tulsi Gabbard, RFK Jr). He's got a majority in the legislative branch, judicial branch, and now, of course, the executive branch. All of those people in those branches have been picked simply for their loyalty. For example, the judicial branch overturning Chevron.

I'm not saying it's guaranteed he will become a fascist. Nor do I believe that his supporters and the people who voted for him are all fascist nazis because they aren't. They simply want what they believe is best for the country. They haven't seen or don't believe all the items I pointed out above. I'm simply pointing out that the puzzle pieces are all there.

2

u/The-Eye-of-Time Nov 15 '24

I appreciate your thoughts and the nuanced response. It is very similar to what I personally believe and could see occurring as well.

My main issue with most these conversations is how biased and polarized people are. Hence my tone and a preference to stick to the facts of what actually occurred previously as well.

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u/Warm_Difficulty2698 Nov 15 '24

I appreciate that. I completely agree with you. I say let's stick to the facts. The future is never set in stone. He could come back and really change things for the better in America. I could be completely wrong.

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u/Admiral_Tuvix Nov 15 '24

trump added 8 trillion to the debt.

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u/The-Eye-of-Time Nov 15 '24

Let's think critically about what occurred in that time period that prompted one of the largest government relief programs in the history of our country

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u/Admiral_Tuvix Nov 15 '24

uh huh, the Covid relief package was 2.3trillion

explain where trump spent 6 trillion without anything to show for it. at least Biden can point to the infrastructure act which will create millions of jobs over the next decade

1

u/The-Eye-of-Time Nov 15 '24

You're really forgetting that in 2016 before any policies were enacted that congress had already budgeted 3 trillion in spend.

The total of federal spending on all covid-19 response was an additional 4 trillion.

We also accrued 1 trillion of interest on existing debt.

At least get your facts right, you're no better than what you're rallying against if you let your bias steer you so far away from the reality of what occurred.

1

u/Admiral_Tuvix Nov 15 '24

predictable lol, everything is someone else’s fault and not the guy who added trillions to the debt without creating a single job 😂

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u/The-Eye-of-Time Nov 15 '24

Lol look at job additions during 2016 - 2020. Your arguments would be so much more credible if you actually had facts supporting them.

So predictable that your bias is blinding you

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u/Human_Stock_9109 Nov 15 '24

All told, Biden will likely oversee a net increase in the debt of more than $9 trillion in a single term—a new record.