Trump may put US into a recession, former adviser Anthony Scaramucci warns
Trump may put US into a recession, former adviser Anthony Scaramucci warns
Tariffs could hit the US economy, warns a former Trump insider.
"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.
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More like a depression because our unreliability is likely to kill the US dollar status as the world reserve currency.
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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.
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It'll be the greatest depression
Unironically that might wind up its historical name which would be really funny. The thing people often brush off is that history is written by the historians, so don't piss them off too much if you care about legacy
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These dipshits are gonna hire their own lackeys to write it. If they don’t care what we think now, they aren’t going to worry about what historians will think later.
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100% will, and it's already starting. Crypto scams ain't gonna save you now.
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Crypto scams ain’t gonna save you
The crypto scam is supposed to enrich the scammers, not anyone else.
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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.
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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.
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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).
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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.
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I think you might be onto something there, still remains in favour of individual capitalists against national capital - and is usually something, the state is supposed to prevent (it's jobs in capitalism are mostly preventing class conflict between bourgeoisie and proletariat just as much as conflict between individual capitalists hurting the economy at large).
But this now feels like 19th century economics from before understanding the nature of crises, and 19th century "sphere of influence" geopolitics all in one.
Here's hoping they end up shooting themselves in the foot by underestimating the consequences of their actions.
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I‘m not convinced that the civil society can put a quick stop this madness, unfortunately. I am very convinced that the capitalists that are not in on the Trump scheme will.
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"May" is doing a lot of heavy lifting here. More like "Trump will put the US into a depression this May."
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Calling Scaramucci an “advisor” is like calling someone you met once for 2 weeks at summer camp your “best friend”.
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Wait. Let him cook.
I am beginning to see that one's time under Trump is a test of fortitude and willingness to be scarlet-lettered arbitrarily, and not a test of skill and value. It's like discovering you've been hired by NASA only to find it's run by Musk and need to keep your head down now to be in position to help with the recovery later.
I worked for a company that tried to do the right thing but was lambasted in the press and snowballed in the court by a 9-lawyer team from a true gorilla of a company. The company saw its prized possessions given away to competitors before its name was trashed irreparably and it was decimated. And I know it only deserved half of that.
So, wait for him to fuck up. Wouldn't it be funny if the the Mooch got canned for disagreeing with Mr trump behind closed doors, and he was really trying to help America?
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To me it seems as if the plan is to make it worse for the average person, up till a point that it is almost unbearable. Then spin the narrative blaming the other countries for the situation. Get the base riled up (history has shown that that is quite easy to do). Declare martial law and "expand" American territory.
-> No elections during war time?
Ah, just thinking out loud here. Probably overreacting...
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Other countries? We have plenty of minorities here to genocide first, or at least in tandem!
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Definitely in tandem; once you're at war, you can round up the local undesirables as spies/enemy sympathizers/etc
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When rich capitalists tells you it's bad for the economy and for the poor, you know shit's in over the deep end.
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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.
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This spoke The Mooch
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I seriously question the "may" in this argument. I offer a strong "will" as alternative.
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Oh look, once they don't work for Trump anymore, they suddenly remember how these things work.
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Buffett has never been pro-Trump that I can recall
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I was talking about Scaramouche-Scaramouche-will-you-do-the-Fandango
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I'm just a dumb normie, but it looks pretty clear to me that this is the goal. And even if it's not purely the goal, it's certainly the completely expected and predicted outcome of this chaos.
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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.
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Trump's Global Reciprocal Tariffs aren't going to put the US into a recession, Trump's Global Reciprocal Tariffs are going to plunge the US and the rest of the World into the greatest Economic Depression since (coincidentally) the 1930's. As night follows day. He's blowing a hole in the bottom of the boat.
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And even if he's stopped, then global warming will really kick in (since we did fuck all to mitigate it) and civilisation as we know it now will cease to exist. Peace and prosperity will became alien concepts of a golden past.
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The worst part is MAgGAts will just say it is the growing pains their god king mentioned.
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I thought that was the plan? Kinda what they rambled about at all those rallies.
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...by Wednesday!
Hey! That's tomorrow!
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Yeah, it sounds right, but like I'm gonna trust a guy who barely lasted one Scaramucci during Trump's first term.
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No shit
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More like a depression.
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Calling it now, hes gonna wind up on a democrat's cabinet
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tariffs + increased tax for low income, the poor in US will be really fucked
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"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."
Sounds pretty intelligent for a guy who couldn’t even last a Truss in public office.
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I was quite surprised by how frank and factual he was there.
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Doing my part to help fuck the US economy. I never bought much American stuff in the first place but maybe a couple things I can avoid.
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His base doesn’t care. Maybe average people in US are having such a good life that they can ignore this and continue to get food on the table for their kids.
On the other end of world in rural Russia, people send young man to battle, so their death benefit payment can bring economic boom for the whole village.
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America sends young men to war all the time. You routinely hear from Americans joining the military because it’s their only chance in life to escape extreme poverty.
And in Russia they don’t reward a whole town, you’re lucky if they send you a box of groceries.
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As if we haven't been here for the last several years, He's just going to make it worse.