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Trump focused on the stock market—not the economy—instead of the virus OR the economy is the real story the media keeps missing.
This is him being the out-of-tough elite “billionaire” class that got us into this mess. But media refuses to connect those dots.
This is him being the out-of-tough elite “billionaire” class that got us into this mess. But media refuses to connect those dots.
People who think the stock market is the economy are a huge part of the problem.
The stock market is a reflection on how the wealthy are doing, not the working class.
The stock market doing well while Americans are struggling is BAD.
The stock market is a reflection on how the wealthy are doing, not the working class.
The stock market doing well while Americans are struggling is BAD.
What that means is that the 1% are getting what they need to not survive but THRIVE. And doing so on the backs of American workers.
The stock market crashing destroyed a lot of wealth concentrated in the richest Americans. Now that it’s risen again it means THEY are back.
The stock market crashing destroyed a lot of wealth concentrated in the richest Americans. Now that it’s risen again it means THEY are back.
Trump USED the pandemic to enrich himself and enrich his friends.
Companies like PFIZER love this pandemic, and are trying to help him get re-elected to thank him for this gift.
Wealthy corporations have made this pandemic their cash cow.
Thus, stock market rises.
Companies like PFIZER love this pandemic, and are trying to help him get re-elected to thank him for this gift.
Wealthy corporations have made this pandemic their cash cow.
Thus, stock market rises.
I lost my job because of the pandemic. I don’t own any stock.
My parents once bought me a few shares but never anything significant.
The stock market rising doesn’t help me or millions of laid off workers a lick.
My parents once bought me a few shares but never anything significant.
The stock market rising doesn’t help me or millions of laid off workers a lick.
In fact, in the long run it will hurt us.
One of the lies we get fed is that the ballooning national debt is dangerous because of the possibility of hyperinflation.
Bullshit.
Without GOP intervention to help the wealthy that wouldn’t happen.
Here’s why.
One of the lies we get fed is that the ballooning national debt is dangerous because of the possibility of hyperinflation.
Bullshit.
Without GOP intervention to help the wealthy that wouldn’t happen.
Here’s why.
Hyperinflation is a theory that gets used to scare working class people into believing their money will lose value.
Wealthy people need this lie to work so they can gain support for austerity that hurts only the working class.
Wealthy people need this lie to work so they can gain support for austerity that hurts only the working class.
Hyperinflation is certain possible, but it requires an ingredient that economists bought and paid for by the wealthy will never tell you:
An over net gain in capital.
An over net gain in capital.
Inflation doesn’t just happen because you “print money.”
A lot of people think it does.
Especially the Joe Rogan demographic.
(That’s part of the plan).
If you print money while other money disappears, inflation should not occur. It makes no sense.
A lot of people think it does.
Especially the Joe Rogan demographic.
(That’s part of the plan).
If you print money while other money disappears, inflation should not occur. It makes no sense.
If the government were to “print money” and nothing else changed, then yes. The overall amount of capital would grow and thus inflation would be a nature consequence.
But that’s never been what is happening.
But that’s never been what is happening.
The pandemic has really put this on full display.
The initial $1200 checks, the extended unemployment for laid off workers...
Did not lead to hyperinflation and never was going to.
Why?
Because in order parts of the economy, money was simply burning up in raging fires.
The initial $1200 checks, the extended unemployment for laid off workers...
Did not lead to hyperinflation and never was going to.
Why?
Because in order parts of the economy, money was simply burning up in raging fires.
What economics will never tell you (simply because of who they work for and what they are asked to do) is that a stock market crash can be a GOOD THING for the overall health of the economy.
Yes, that’s right, it was good that so many massive corporations lost billions.
Yes, that’s right, it was good that so many massive corporations lost billions.
That money wasn’t ever really theirs. They never touched it. It was never printed. It wasnt in gold bars or gold pressed latinum.
It was Monopoly money handed to them by the government.
It was a FICTION.
It was Monopoly money handed to them by the government.
It was a FICTION.
Americans are never told the full story of *how* the gross wealth inequality in this country came about.
Many have tried. Like Bernie. But they all miss some key elements.
I’ll give you my favorite example: intellectual property.
Many have tried. Like Bernie. But they all miss some key elements.
I’ll give you my favorite example: intellectual property.
IP has undoubtably created trillions of dollars in capital for its holders.
But it is a fiction created by the US government.
Without US law, no one “owns” their intellectual property.
It’s free.
Yup.
That’s right.
I can make a copy of any song I want and it becomes mine.
But it is a fiction created by the US government.
Without US law, no one “owns” their intellectual property.
It’s free.
Yup.
That’s right.
I can make a copy of any song I want and it becomes mine.
IP law was written into the US constitution for ONE reason: to promote art and science.
NOT even to reward or provide for artists and scientists.
And certainly not for corporations and wealthy people who are NOT CREATORS to profit substantially.
But that’s what it is now.
NOT even to reward or provide for artists and scientists.
And certainly not for corporations and wealthy people who are NOT CREATORS to profit substantially.
But that’s what it is now.
US intellectual property law is a racket that steals money from artists and creatives and funnels it into corporate fat cats.
Politicians have perverted it from its intended use and I could write a lot more than a twitter thread on that topic.
Politicians have perverted it from its intended use and I could write a lot more than a twitter thread on that topic.
If you want a deep dive into this, just start here—
https://en.m.wikipedia.org/wiki/Copyright_Term_Extension_Act">https://en.m.wikipedia.org/wiki/Copy...
https://en.m.wikipedia.org/wiki/Copyright_Term_Extension_Act">https://en.m.wikipedia.org/wiki/Copy...
Suffice it to say, the three branches of IP law in the United States—Patents, copyrights, and trademarks—account for much of the accumulation of wealth in this country.
Without it, the vast majority of US businesses COULD NOT EXIST.
IOW, they survive on government teat.
Without it, the vast majority of US businesses COULD NOT EXIST.
IOW, they survive on government teat.
This is why I call bullshit on people who think taxes are stealing.
That isn’t your money. You didn’t earn it.
The government handed most of it to you by offering its protection for free.
Well, as a loan.
Which you must pay back to the politicians.
That isn’t your money. You didn’t earn it.
The government handed most of it to you by offering its protection for free.
Well, as a loan.
Which you must pay back to the politicians.
Without trademark protections, Donald Trump Inc. doesn’t exist.
POOF.
ALL of Donald Trump’s wealth comes from the government protection of his name.
Take that away and he’d never get a dollar.
POOF.
ALL of Donald Trump’s wealth comes from the government protection of his name.
Take that away and he’d never get a dollar.
Trump is the epitome of a welfare capitalist.
He needs the government for his wealth.
He isn’t a job creator. He’s a leech.
And until will as a country recognize this we can’t break this fever.
He needs the government for his wealth.
He isn’t a job creator. He’s a leech.
And until will as a country recognize this we can’t break this fever.
Want to know who creates jobs? Who sustains an actual economy?
Creators.
Artists.
Inventors.
It just so happens that most of that labor comes from vulnerable communities.
Yes, this is a RACIAL issue.
Not a class issue.
Creators.
Artists.
Inventors.
It just so happens that most of that labor comes from vulnerable communities.
Yes, this is a RACIAL issue.
Not a class issue.
Black folks are doing the work. Building the actual small businesses in this country. Making art. Making music.
So are POC, queer people, indigenous people, disabled people, immigrants.
The backbone of America.
So are POC, queer people, indigenous people, disabled people, immigrants.
The backbone of America.
Our scientists. Our doctors. Our inventors. Our greatest thinkers.
The people who contribute most to society are people being targeted by Trump’s GOP.
The people who contribute most to society are people being targeted by Trump’s GOP.
But who is getting wealthier? The same white men who have controlled the government and reward themselves time and time again.
That’s why they care so much about the stock market.
That’s why they care so much about the stock market.
Remember in the beginning of this thread when I talked about how hyperinflation occurs?
Well. It occurs when the overall capital swells.
There was NOTHING wrong with direct payments to struggling people.
Until the stock market started going back up.
Well. It occurs when the overall capital swells.
There was NOTHING wrong with direct payments to struggling people.
Until the stock market started going back up.
When the stock market crashed, capital literally evaporated overnight. It displaced billions of dollars.
If it never returned, the overall pot of money would stay about the same. Possibly even go down further.
This is how you PREVENT inflation.
If it never returned, the overall pot of money would stay about the same. Possibly even go down further.
This is how you PREVENT inflation.
But Trump and the GOP are determined to bring the stock market back up, and used the tools of government to do so.
Tax cuts. Handouts to big corporations. Threatening social security.
All to JUICE the stock market.
Tax cuts. Handouts to big corporations. Threatening social security.
All to JUICE the stock market.
THIS is where the danger comes in. Hyperinflation can occur when BOTH the bottom and the top are earning capital. But the bottom needs it desperately and the top just wants to get richer.
Guess who hyperinflation will end up harming?
Guess who hyperinflation will end up harming?
Remember. In order to juice the economy, the government is simply handing out money to wealthy people.
It’s also STILL protecting all of their property interests of any kind, even at the expense of the creators of capital.
It’s also STILL protecting all of their property interests of any kind, even at the expense of the creators of capital.
The government is engaged in a conspiracy with wealth business interests to create a dangerous economic situation and then tell working people THEY must sacrifice again to save themselves.
It’s a THREAT.
It’s a THREAT.
Trump and the GOP are stockpiling active grenades so they can tell you later to drop your weapons so no one gets hurt.
But this is our chance to decimate their forces entirely and disarm their weapons.
Don’t fuck this up.
But this is our chance to decimate their forces entirely and disarm their weapons.
Don’t fuck this up.
