bankrupted a casino

That’s false. He bankrupted multiple casinos.

The guy who bankrupted a casino is tanking the biggest casino in the world. Who knew!

The american stock market is the ultimate casino boss fight for him.

At some level of wealth, money stops being conceptually a medium of exchange for goods and services, and just becomes a scoreboard for bragging rights.

I’m struggling a little to understand the main aim of this comment. It’s not untrue, there’re just a lot of parts going in different directions and, potentially, coming from different places. Without context it’s kinda just a surface observation, ya know?

Not yet. Still a ways to go before proverbial (and maybe literal) blood in the streets.

We can only hope that they're currently heavily leveraged with loans on equity holdings, such that they have to liquidate assets.

Granny, time to get a second job, we need eggs.

Yeah, what is that? A couple grocery trips? Small price to pay for making America so great.

Sort of but not really.

They aren't really "the US economy". Most of those corporations live outside the bounds of nations. They just have their HQ in the US. Manufacturing etc is done wherever is cheapest, and now they're finding out that they might have to pay real wages and real money to make things in the US.

The losses per person are lower because people from all over the world have investments in those stocks. It's been overvalued for a while and still is.

Americans will still end up poorer though, because even if they move the manufacturing, they'll no longer be able to buy things at Chinese poverty wages.

it’s a planned thing to increase the wealth of the super rich

The prior generation of neoliberal economics was doing this just fine. Trump is being buoyed, in large part, by a generation of middle managers, professionals, and small business owners who have eaten shit through a generation of consolidation and de-skilling of advanced labor.

But his policies still suck. His neglect of critical infrastructure and his race to defund public goods and services and his clumsy implementation of pseudo-scientific economic policies won't benefit anyone in the US, rich or poor. The rich will endure the catastrophes better (probably). And they'll have the resources to flee when shit really starts to hit the fan (for the most part). But the idea that the biggest shareholders of Boeing, Microsoft, Exxon, and JP Morgan Chase are somehow positioned to come out ahead on a massive contraction in real economic production is delusional.

American kleptocrats have made the choice to rule in hell, rather than to pay a 36% marginal tax rate in heaven. And you only have to look as far as Russia, Saudi Arabia, South Korea, and Israel to see where this miserable policy ultimately leads. Sergey Brin and Eric Prince are going to trade places with Ahmed bin Abdulaziz and Yevgeny Prigozhin, entirely for the opportunity to avoid dealing with the IRS.

Good job. For what it's worth you should still take your employer match and invest it all outside North America. Don't leave that free money on the table because the US is headed for a depression.

I sold the stocks we had for a down payment on a house late last month too. I have avoided $9000 in losses SO FAR. I was talking about this a couple days ago and was essentially told I'm an idiot for trying to time the market instead of riding the dip. Then yesterday early morning before open I was told I got lucky and better buy back in to lock in my winnings. $5000 of those losses would have occurred yesterday if I'd bought back in. I'm not putting money back in the casino until it's under new management.

once the FDIC is gutted, we're on our own with the banks.

More!!! 🗣️

Buy the dip 😊