3mo ago

Treasury Secretary Scott Bessent says Americans looking to retire aren’t concerned about day-to-day markets, dismisses concerns about a potential recession

www.cnbc.com Treasury Secretary Scott Bessent says Americans looking to retire aren’t concerned about day-to-day markets, dismisses concerns about a potential recession

Bessent's comments come after President Donald Trump warned that the "economic revolution" won't "be easy" in a social media post.

Treasury Secretary Scott Bessent says Americans looking to retire aren’t concerned about day-to-day markets, dismisses concerns about a potential recession

You're viewing a single thread.

57 comments

These people pretend to be out of touch.
They just don’t care.
They’re buying time to steal as much as they can for as long as they can.
- What do they care about though? This seems deliberate, right? Who's benefiting from economic collapse? Things you should be asking.
  
  You can make money betting the market will go down.
  It's entirely likely these ghouls have bet hard on the downturn they have created. They knew exactly when it would happe and how extreme it was going to be. Keeping it going down just makes them money.
  
  People seem to forget that he's done this each month since he was inaugurated. He threatens tariffs, the market plunges, he makes an excuse to postpone the tariffs, and the market rises again. In between, the wealthy are cleaning up.
  By the end of the weekend, they were claiming that countries were calling and begging to negotiate. My prediction is that by the end of the week he will be postponing many of the tariffs, except for countries who are big meanies to him.
  
  You can make money betting the market will go down.
  Sure but becase it's not productivity related its just swapping money. There ia no "winner", for every win there's a loss on the other side of that sort of trading.
  
  The thing I've been wondering about is, to what extent will they try quantitative easing and/or bailouts, as was the 2008 strategy. I don't think trump will endorse QE, but I think it's possible the establishment of the crypto reserve is so he can bail out his buddies. But instead of saying "I'm bailing out these billionaires" which wouldn't play well with his base, he'll say "I'm using USD reserves to diversify investments into crypto". Which pumps whatever coin he chooses, after which all his buddies dump on the taxpayers.
  
  Unlikely
  
  Buddy, everyone I know exit the market at the end of January. Some are riding the downtrend with SQQQ as we speak. And these aren't professional traders with insider knowledge of when Trump would flip or flop. Those who have it have made a killing and would make yet more.
  
  Pal, I wasn't asking who makes money in an obviously bearish market. I was asking who benefits for having weird-dick Clown Lord tank it.
  
  Russia does.
  
  Oligarchs. They suck up the rock-bottom market and come out the other side with even more of the world's wealth in their pockets.
  
  Youll see when they start buying all the low low stocks then reverse their tariffs to stabilize the system.
  
  Who buys what?
  
  During the COVID-19 pandemic, billionaires experienced a massive surge in wealth:
  Global Billionaires: Their collective wealth increased by $3.8 to $4 trillion during the first year of the pandemic, reaching $12.7 trillion by 2022, a rise of 42%-54%[2][3].
  U.S. Billionaires: Their wealth grew by $1.7 trillion (58%) over three years, totaling $4.7 trillion by 2023[1][5]. By 2024, U.S. billionaire wealth had risen 88% since the pandemic began, reaching $5.5 trillion[7].
  Top 10 Richest Men: Their fortunes more than doubled from $700 billion to $1.5 trillion during the pandemic[4][8].
  Citations: [1] Updates: Billionaire Wealth, U.S. Job Losses and Pandemic Profiteers https://inequality.org/article/updates-billionaire/ [2] Covid-19: A new billionaire has been minted nearly every day ... - CNN https://www.cnn.com/2022/05/22/economy/billionaires-poverty-oxfam-davos/index.html [3] Billionaires got 54% richer during pandemic, sparking calls for ... https://www.cbsnews.com/news/billionaire-wealth-covid-pandemic-12-trillion-jeff-bezos-wealth-tax/ [4] Ten richest men double their fortunes in pandemic while incomes of ... https://www.oxfam.org/en/press-releases/ten-richest-men-double-their-fortunes-pandemic-while-incomes-99-percent-humanity [5] Pandemic Profits: Billionaires Wealth Grew $1.7 Trillion During ... https://americansfortaxfairness.org/pandemic-profits-billionaires-wealth-grew-1-7-trillion-three-years-public-health-emergency/ [6] American billionaires decried Joe Biden, gained wealth in his term https://financialpost.com/wealth/american-oligarchy-biden-15-trillion [7] U.S. Billionaire Wealth Is Up 88% Since the Pandemic—Now ... https://ips-dc.org/u-s-billionaire-wealth-is-up-88-since-the-pandemic-now-topping-5-5-trillion/ [8] 10 richest men double their fortunes in pandemic while incomes of ... https://www.oxfam.ca/news/10-richest-men-double-their-fortunes-in-pandemic-while-incomes-of-99-per-cent-of-humanity-fall/
  
  Op literally answered those questions in the post you're replying to.
  
  Go ahead and summarize for us: who's benefiting from economic collapse?
  
  Those who are making money off it...
  How is this confusing?
  
  The working class and middle class will continue to work and provide value to investors, because they have to. No work means no food, no home, so people will continue to work and investors will still have that value coming from the working and middle class. Their lives will suck, but that's not a rich person problem. Ideally, for the rich, the working class and middle class will sell off their assets at fire sale prices so that they can survive and the rich will get valuable assets on steep discounts. Homes that foreclose will be bought up and renters will be put in them and the return for investors will be incredible.
  Recessions are when rich people get much wealthier in a short period of time. This is deliberate and the rich will be using their money to "invest" while the working and middle class produce more value for investors at their jobs and sell their assets to the investors.
  There is no such thing as a recession being bad for the wealthy. The only thing bad for the wealthy is taxes and regulations. Even if their net worth drops, it only drops on paper temporarily and as long as they don't sell while the value is down it's like it never happened. If it ever gets really bad that's when companies are then deemed "too big to fail" and the government bails them out.
  It's intentional and they're all excited about the recession.
  
  Thank you.
  
  Putin. Its always Putin, using Skum and HitlerPig as his muscle.
  When will people truly internalize that the two biggest foreign Sociopathic Oligarchs, have partnered up with the most prolific traitor in American history? None of them have any loyalty or patriotism toward America, and only see us as a big, rich, fat, lazy target to be ruthlessly exploited and looted, and it's happening in real time before our eyes.
  
  Putin is like Australopitecus or a Neanderthal, not all Neanderthals lived in Neanederthal, not all Cromagnons in Cromagnon.
  It's a kind of people, thieves evolved enough to steal a country, but not further. It's our time's game, how is that problem going to be solved. They themselves don't see any global problem, only local ones of keeping power and getting more and disposing of those trying to prevent it, and in general doing what they want.
  But yes, they desperately hate equality of rights and transparency and distribution of power, and of course Trump is partially a project of others such.
  This doesn't matter, it's an infestation, one particular cockroach is called Putin, but there are many others procreating.
- How much could an egg cost, Michael? Ten dollars?

57 comments