This will put inflation onto overdrive. Anybody who holds savings in US dollars should reconsider.
One would think that the very recent round of inflation caused by “sending out checks” should have served as a lesson but it didn’t. Musk is obviously doing this purposefully to undermine the dollar and strengthen crypto but Americans shouldn’t pay for this plan.
“This will put inflation onto overdrive.”
Income tax is progressive (the more you make the more they take)
Inflation is regressive (the less you make the more it takes).
So of course Musk wants that.
“strengthen crypto”
the only purpose of crypto now seems to be to con gullible middle class people out of their live savings… really can anyone explain what it does and why it’s needed?
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People will have no choice but to invest in crypto if these $5K checks become reality and another wave of inflation hits.
We are not learning anything, and that’s disappointing. I’m seeing crowds of people I very sincerely pity celebrating this plan. They’ve lived their whole lives in a capitalist system and still haven’t learned that “free money” is a trap. How is it possible?
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“undermine the dollar and strengthen crypto but Americans shouldn’t pay for this plan.”
oh weakening the dollar is absolutely in the works. A strong dollar helps with trade imbalances, which is something Trump hates.
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Even an amoeba would learn the sequence of “free money => inflation => impoverishment” by now. But apparently, the intellect of an amoeba is a distant dream for many people. They are actually celebrating this. Adult people who don’t seem to have been diagnosed with intellectual disabilities.
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340,000,000 x 5,500 = 1.7 trillion
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error. 340,000,000 x 5,000 = 1.7 trillion
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“Musk is obviously doing this purposefully”
I think we’ve found Trump 2’s Jared Kushner….
Trump cannot. pick. good. people.
Simple as….
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Jared at least was good on foreign policy. Whoever substituted him now is an incompetent loser.
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“Musk”
Speaking of Musk….. I just found out that fragments of his Falcon 9 fell to Earth literally within walking distance (a long walk but still….) of where I live…. I’ve gotta take that kind of personally….
He missed me this time, but how many more attempts will he make?
https://x.com/poland24com/status/1892214009094455356
God. This is disturbing.
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Because that would be the sensible, rational thing to do. Who needs that boring kind of stuff?
🤦♀️🤦♀️🤦♀️
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No it won’t. The main issue is that with all the government departments and staff being fired there will be short term recession, so they are trying to offset that so there’s no recession news for democrats to amplify.
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I really, really wish people stopped to consider how impossible it is to know what their “no it won’ts” refer to.
A recession triggered by firing several hundred bureaucrats in a country of 380 million is an economics discovery of massive proportions.
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I think you will find several hundred thousand buerocrats, not to mention huge volume of spending cuts on illegal immigration as they are deported and stop spending government money, reduced spending due to stoppinf payments to 30m fraudulent social security numbers. Etc. These numbers likely add up to 500bn or more 1 in reduced spending. Gdp will clearly go down, while gdp per capita will go up. But governments are pilloried on gdp.
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Not seeing any mention of the $5k thing in any of my usual news dives. Is it real or rumor?
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