From Robert Reich:
So a recession seems likely. The American economy will contract over the next six months.
This will cause massive hardship for lower-income Americans because they’re likely to be the first ones to lose their jobs — at the same time they’re paying more for much of what they need.
But a recession is not necessarily bad for Trump and his billionaire buddies. America’s oligarchy depends on periodic recessions.
Recessions are opportunities to buy up real estate, companies, and shares of stock at bargain-basement prices. Recessions also give political cover to Trump, Musk, and Republican efforts to reduce labor and environmental standards.
Also, remember the business cycle. A recession early in Trump’s term is politically better for Trump and his Republican allies than a recession later in the term.
I believe Trump’s plan is for a recession in 2025 so that he and his billionaire buddies can ride the wave of a recovery in 2026 — just in time for the midterm elections.
What do you think?
@AThousandYoung saidThe average recession is 11 months. 😆
Sounds good except - what’s going to cause the recovery?
@spruce112358 saidBur this recession isn't average, it's up there with the GFC and even nastier ones like the Great Depression. It's also being very publicly caused.
The average recession is 11 months. 😆
@Kewpie saidFunny meme today:
Bur this recession isn't average, it's up there with the GFC and even nastier ones like the Great Depression. It's also being very publicly caused.
“We are going to add a tariff to the cost of Harris Teeter products until they agree to buy a reciprocal amount of products from their customers.”
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@spruce112358 saidSounds legit. At age 65 I have independently thought that the GOP and their business allies sometimes deliberately have crashed the economy for political advantage.
From Robert Reich:
So a recession seems likely. The American economy will contract over the next six months.
This will cause massive hardship for lower-income Americans because they’re likely to be the first ones to lose their jobs — at the same time they’re paying more for much of what they need.
But a recession is not necessarily bad for Trump and his b ...[text shortened]... e wave of a recovery in 2026 — just in time for the midterm elections.
What do you think?
Another current possibility is that Melania's brilliant son has found a path whereby Trump could crush every old-fashioned currency to promote greater usage of bit-currencies and their untraceable exchanges -- to that deplorable family's benefit, of course.
@spruce112358 saidBut simply continuing the policies that put you in recession-land is not going to get you out of it.
From Robert Reich:
So a recession seems likely. The American economy will contract over the next six months.
This will cause massive hardship for lower-income Americans because they’re likely to be the first ones to lose their jobs — at the same time they’re paying more for much of what they need.
But a recession is not necessarily bad for Trump and his b ...[text shortened]... e wave of a recovery in 2026 — just in time for the midterm elections.
What do you think?
"Recessions are opportunities to buy up real estate, companies, and shares of stock at bargain-basement prices"
I'll also add industrial metals to that list...
You people don't understand that you can also buy stocks and companies and real estate for better prices also.
Stop thinking you have to be rich already to benefit from any type of economic scenario.
Most people start small and grow. So start small and grow a pair and quit whining about money.
There are mega-milionares out there because some poor dude back in the day said..."I'm broke, I'm going to use my last 500 bucks on this new Bitcoin thingy"
Amazon started in his garage. Now he's a billionaire.
20 years ago, how many times did you waste 300 bucks? Gold was 300 an ounce in the year 2005.
Now it's 3000 an ounce!
You could have easily bought a few back then and held on, but you didn't because you don't try.
Look at those people that buy a coffee every morning from some coffee shop. The average price for a cup of coffee in the USA is between 2 and 3 dollars.
1000 a year wasted on coffee! 10,000 gone after 10 years!
The saving money list is endless. All of you probably have 2 or 3 things that you waste money on.
Saving money is easy if you just look and think.
@My-King-And-I saidMy friend, who is 65 (retired) and on Medicare takes an asthma medication that retails for $5,520 per month for two 300 mg/2 mL autoinjector pens. The drug has been a wonder for him - he feels much, MUCH better. Medicare covers that cost.
"Recessions are opportunities to buy up real estate, companies, and shares of stock at bargain-basement prices"
I'll also add industrial metals to that list...
You people don't understand that you can also buy stocks and companies and real estate for better prices also.
Stop thinking you have to be rich already to benefit from any type of economic scenario.
Most ...[text shortened]... ably have 2 or 3 things that you waste money on.
Saving money is easy if you just look and think.
Dupixent earns about $13.62 billion per year, worldwide. The patent will run not just for 10 years because as a biologic, they will get lots of gummint protection from biosimilars - 15 years minimum. That is an over $200 billion return.
The claim is that it cost $6 billion to develop Dupixent. I doubt it. Pharma knows they have to pad costs to justify higher prices (don't say "No." I used to watch them do just that.) But let's assume for the sake of argument that $6B ("the most expensive drug in history and a significant outlier) is true.
How much does it cost to produce dupixent? Ahhhhh... they won't tell you that. But it is a MAB (monoclonal antibody). That technology is well-understood - been around since the 1980's.
How much is spent on ADVERTISING for dupixent? $502 million in 2023. So that means Sanofi and Regeneron will spend at least $5 billion advertising Dupixent over the next 10 years. So check back with the development costs. Absolutely. Pharma spends about as much advertising their PRESCRIPTION drugs as they do SELLING THEM!
Why do they advertise them? Guess - bigger profits for pharma!
Why can't Medicare negotiate lower drug prices for the drugs THEY pay for? Because until Joe Biden reversed course in 2022 under the Inflation Reduction Act, Congress had banned Medicare from negotiating lower drug prices. Why? Bigger profits for pharma! So who wants to repeal the IRA? You know who...
"Quit whining about money," you say? I think NOT.
I think we need to whine about you and your corrupt "buddies" who are scamming and bankrupting the country with your BULLCRAP PROTECTIONISM a WHOLE LOT MORE!!! 😆
@spruce112358
The USA pays 5 percent in taxes for goods.
Countries that have health care pay 3 times more at 15 percent.
Most people are healthy so what would you choose if you and your friends didn't need health care?
Tell your friend to quit smoking 2 packs a day already
@My-King-And-I saidHe doesn't smoke. 😆
@spruce112358
The USA pays 5 percent in taxes for goods.
Countries that have health care pay 3 times more at 15 percent.
Most people are healthy so what would you choose if you and your friends didn't need health care?
Tell your friend to quit smoking 2 packs a day already
@spruce112358
If you and your friends were healthy old farts...
Would you choose 5 percent taxes or 15 percent?
@My-King-And-I saidIncoherent. Try again. 😆
Most people are healthy so what would you choose if you and your friends didn't need health care?
If there is fraud in gummint, this is where it can be found - in schemes where gummint and big business get in bed with each other and suck each others d*cks. 😆
But Muskrat ain't gonna look for REAL fraud because he's just as guilty as anyone of padding his big SpaceX contracts.