“Remember tariffs are a tax, and they’re primarily a consumer tax,” Scaramucci added. It’s “a consumption tax, sort of like a VAT [value-added tax]. And that’s a regressive tax. So what ends up happening is the poor people — it eats up more of their disposable income than any other income group.”
“Tariffs are actually — we’ve had a lot of experience with them. They’re an act of war, to some degree,” Berkshire Hathaway (BRK-B) CEO Warren Buffett said in a new CBS News interview on Sunday.
It’s fascinating, because the people behind him are genuine grifters and/or delusional ideologues, he can’t even make proper politics in the interest of capitalists. (Just in the interests of some individual capitalists, against the interests of national capital accumulation).
Capitalists love depressions because that’s their opportunity to buy everything for cheap. Last time the orange shitstain did this, $1 Trillion went from the poor to the rich.
They like recessions not depressions, folks have a tendency to get violent in depressions. Why follow orders when your stomach is empty and there ain’t a roof over their head.
More like a depression because our unreliability is likely to kill the US dollar status as the world reserve currency.
I guess he’s really gonna make America Great Again. Great Depression style.
They use recession because they’re afraid of using the big D and admitting that we’ve had several since, like in 2008, which was only not a depression on what is effectively a technicality, IIRC.
He already fucking is. Look at the markets. The Trump Slump won’t stop, and the recent volatility in the markets is 100% due to him and his administrations dumb fucking mouths and actions. Hmm, you know who would love to see the US in a recession? Our enemies, and billionaires (who are also our enemies). To them it’s just a good time to buy the country.
Trump is straight up a fucking traitor. His death will be violent, and beneficial to the American people, as will Musks.
Republicans regularly crash the economy. Then they get to bailouts (and select the winners or losers for that), and buy up assets cheap. The way the population has been convinced, against all evidence, that republicans are better economically and fiscally is a triumph of their propaganda.
President musk has explicitly stated that they are intentionally making things worse for the average person.
Reporting this active effort to manufacture a recession as “Trump may put US into a recession” is journalistic malpractice.
When rich capitalists tells you it’s bad for the economy and for the poor, you know shit’s in over the deep end.
Warren Buffett is a rich capitalist, but he’s been around long enough to know he needs an economy to leverage, long-term. He’s not first in The Purge, but he knows it’s gonna ruin his comfy routine and I bet he’ll work to preserve that.
