5d ago

'Even the rich are worried': Experts warn of 'scariest' signs amid 'stagflation' fears

www.alternet.org 'Even the rich are worried': Experts warn of 'scariest' signs amid 'stagflation' fears

Warning signs are flashing red in a week where troubling economic news has turned unmistakably grim. Consumers should brace for a surge in terms like “inflation,” “stagflation,” “Trumpflation,” and “recession” dominating the headlines.Reports are now showing consumer confidence has plummeted to its ...

Economics @lemmy.world

www.alternet.org /the-rich-are-worried/

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Let's call it what it is: Trumpfuckation

You have a child running around with spray paint, won’t take it away, and are worried about the drapes.
Got it.
- spray paint
  And a lighter.
- it's significantly worse than spray paint that the child is carrying.
  
  Is it a full nappy?

Now we just need the super ultra mega rich to get worried
- That reminds me, I have to sharpen my guillotine.
  
  Now the whole political spectrum loves the second amendment. The conservatives really are doing a good job

🤷‍♂️ This is what “the rich” voted for.

I wish they'd quit making up cutesy names for actual horrors. It's not a "Trumpsession," it's a fucking recession.
I understand that including his name ties him to the event, but too many people have a positive connotation with it, so they won't see the word recession, only his name.
- I have heard my brother in law (who voted for trump) say that things will have to get very bad before he can make them better. His base knows. They dont care and think its 'part of the plan'
  
  Your brother in law is eating stale ass cake
  
  The billionaire said I must eat these trays of shit sandwiches so I can have a chance to eat a turkey sandwich later.
  
  His base is a bunch of cultist lunatics that would vote for him if he shot their mom on fifth avenue in front of them.
  
  Holy fuck is that so very stupid. Things were already actually quite good. These dipshits keep saying that Biden gave donvict "the worst economy ever" which is suuuuuuuch a load. And now they are going to welcome things being actually much worse, dreaming of some bright future where they will benefit (and presumably, donvict will be "hurting the people he needs to be hurting" in that bright future, i.e,. not the xtian white far-right people, and making exceptions for the "good" versions of POC, women, gays, etc...)
  How are these magoffs any different from the dumbasses that believed Mao's horseshit about a "Great Leap Forward" and "5 year plans", etc...?
- Saying this is a 'Trump induced recession' is too many syllables for the maga fucks to get through their thick skulls.
- Recession feels like a cute word for full blown depression in my opinion.
- We might be lucky if donvict's actions "only" cause a recession and not an all-out depression. Desperate people are not going to sit around and do nothing and they'll be ripe for easy answers being supplied by the likes of extremists.
  I know accelerationists of both wings like to imagine that they and/or their ideology will come out on top in the event of violent revolution/civil war, but...it usually doesn't work like that.

Make America Have A Great Depression Again
- Good ol MAHAGDA.

Maybe they’ll fucking do something
- They'll arrange a bailout for themselves.
- Yeah- find another country that's not in end-stage capitalism and live there.
  
  Well that’s awkward for them because there’s nowhere they’d have it as good as the US has been in terms of taxes and stability.
  Good job on them for lighting the house on fire while they’re in it.
  
  Mars, maybe?

The economy was chugging right along and on the way back until Trump and Co. came in destroying The gains made by the last administration.
firing so many federal employees has knock-on effects all the way down.
Not to mention the tariffs and USAID.
This is by Design. That way the ultra-rich can gobble up everything at a cheaper price.
- Yeah, the qons were extremely butthurt that "no one wants to work any more", meaning they didn't have as short a leash on labor as they wanted. Somehow, you'd hear working class repeating this same bullshit, and that's some serious brainwashing in action right there. But you'd hear it - and still hear it - all the time.
  Anyway, if they can put a lot of people out on the street to compete for the same set of jobs, yank all services and all benefits, they can try to get labor back into line to such a degree to even surpass the way things were pre-covid and make sure that the working class knows who is REALLY the boss, and it won't be labor...they want it where the working class is grateful for the crumbs being cast to them ("trickle down") that keep them from starving and don't aspire to anything better.
  Even better is if they can do away with democracy altogether and just have the better people - the parasitic idle rich - make all the decisions so that the 99% cannot even band together and vote for people that will punish the rich in even the most moderate of ways.
- Hopefully the debt train won't get cut off.
  It's disconcerting which questions economists can answer with confidence, and for which they just throw up their hands.

All of this is being caused by donvict and the qons .

MARALAGO = Make America Recession Again Like All Great Oligarchs

Just a reminder that when they say they're worried, they're simply worried that they have their yachts and private jets ready to go.

Eh, what's the worst that can happen?
Because that's probably what it will be.
- A lost generation, common starvation, genocide? Economic and ecological collapse? IDK.

even the rich are worried
Good.

Reports are now showing consumer confidence has plummeted to its lowest level in 12 years, the markets are currently tanking, analysts have downgraded predictions for stocks, core inflation is rising, GDP projections have been sliced in half or are now negative, unemployment is expected to increase, and some major corporations are projecting sales decreases.
Putin just came.

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