Retards are now blaming tariffs for the great depression
(twitter.com)
Comments (21)
sorted by:
My brother is a narcissist and will just make up a story on the spot to justify whatever bullshit he is trying and in his mind I swear to him it was true. Because to people like him the truth isn’t what happened but what justifies your behavior.
So, he's a woman?
ITS MA'AM
If the country cannot withstand 10% across-the-board tariffs, with the most impactful one being China at 34% without collapsing into a depression, then the economy was a house of cards ready to collapse to begin with.
“The economy is doing poorly”
Oh really, why is that again, was it because of runaway investments after the ford dodge case said corporations sole responsibility was to their shareholders so Wall St bought stocks in everything thinking they could fleece them for all they were worth and got fleeced themselves? If only there was an equivalent today …
That and the Federal Reserve's first artificial boom/bust cycle had hit the bust stage.
Leftists hate tariffs because they protect workers without communism. Tariffs are basically the nationalists’ tool to prevent globalism from fucking over native labor. Leftists demand unions for this task because unions give them control.
YES!
The Great Depression started with the stock market collapse, but why did it collapse in the first place?
Because it was massively over-inflated, a Ponzi scheme, "tulip futures" style.
Everyone & their dog bought stocks. They were told it was 100% safe with a good return guaranteed. Banks gave out loans for people to buy stocks! Hint: they don't do THAT any longer! Unless you offer collateral well in excess of the loan, not the stocks themselves as collateral.
So when it finally, inevitably, crashed? Not only were huge numbers of people bankrupted? The banks themselves took a mighty hit. Investment money vanished, business went under, banks failed & etc. Normally an economy can bounce back in a year or two, but not that time.
Just from my memory, not recently researched or anything.
The point being: under Biden there were the seeds of what caused the Great Depression being sewn. The markets are hyper-inflated now. The two options are "correction" (crash) or building the economy to match the high markets. IMHO. Clinton avoided a crash by crashing the economies & money value of other nations. They won't be falling for that again.
There's a third option, hyperinflation, but the USD's status as the world's reserve currency lets the US export most of its inflation.
Well, it used to, until the US weaponized the Dollar against Russia, creating a scramble to the exit by the BRICS countries.
True! I forgot that one. Justin Trudeau was using it here in Canada to pay for his progressive WEF policies: just print more money! Biden was hitting the printing press pretty hard too, so our Dollar Cdn didn't go down too much vs the US Dollar. But still.
Lowering the value of currency lowers the value of that nations stock market too. Like a slow crash, the actual value drops without that "jumping out a window" sound effect. AAAaaaa! (splat)
I can't afford bread, but look at my gainz! Diamond hands!
yes they do, It's called a Portfolio Line of Credit.
Pretty sure the entire loan isn't backed by the stocks it bought, eh? Then the Banks would just invest it themselves and make even more money. They want more $$$ in collateral than the stock value, since it could change in a day.
If I'm not misremembering they give you a loan requiring you buy stocks that pay dividend, and reinvesting all dividends in where they came from, allowing you only to withdraw any capital gain above cost basis, at your own tax burden, until you pay the debt otherwise they get the matured stock value plus being able to claim some kind of tax benefit.
That sounds really dirty... so banks would do it if it had a government guarantee or something. I'd still think they'd require outside (of the stocks) collateral though.
NPCs gonna NPC.
This is a retard meme so it makes sense.
Oh. I guess it had nothing to do with the creation of the federal reserve, huh?
Thats been talked about ever since Trump mentioned tariffs in his campaign speeches.