▲ 1415 ▼ TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History (en.wikipedia.org) submitted 1 year ago by realitista@lemm.ee to c/til@lemmy.world 205 comments fedilink hide all child comments cross-posted from: https://lemmit.online/post/5566633 This is an automated archive made by the Lemmit Bot. The original was posted on /r/todayilearned by /u/MechCADdie on 2025-04-04 08:19:11+00:00.
[–] eugenevdebs@lemmy.dbzer0.com 24 points 1 year ago (2 children) They have enough money to coast along to buy and hoard failing companies and collect them for whenever the economy rebounds. Billionaires have so much money, they could spend a few thousand a day and it wouldn't hurt their bank account for decades. permalink fedilink source parent hideshow 4 child comments replies: [–] TronBronson@lemmy.world 16 points 1 year ago* They could spend $100,000 a day for 50 years an not have spent through 2 Billion. Elon and musk both command 200 Billion ish. the interest alone is worth that 8 billion a year if it was in treasuries. Every year the interest on Musks fortune could generate enough money to spend $2,100,000 a day without even losing a dollar of principle. on the theoretical interest of his fortune. I lost 10% of my retirement today. Thats not even a fraction of any of these numbers 😂😭 permalink fedilink source parent [–] postmateDumbass@lemmy.world 8 points 1 year ago The old oil money declared war on the neuvo riche tech bros. Its an attrition war. The majority are peeons (sic) in this new feudal trickle down economic game. permalink fedilink source parent
[–] TronBronson@lemmy.world 16 points 1 year ago* They could spend $100,000 a day for 50 years an not have spent through 2 Billion. Elon and musk both command 200 Billion ish. the interest alone is worth that 8 billion a year if it was in treasuries. Every year the interest on Musks fortune could generate enough money to spend $2,100,000 a day without even losing a dollar of principle. on the theoretical interest of his fortune. I lost 10% of my retirement today. Thats not even a fraction of any of these numbers 😂😭 permalink fedilink source parent
[–] postmateDumbass@lemmy.world 8 points 1 year ago The old oil money declared war on the neuvo riche tech bros. Its an attrition war. The majority are peeons (sic) in this new feudal trickle down economic game. permalink fedilink source parent