The stock market just crashed by 2 trillion! This is the Republican Recession folks!
this post was submitted on 03 Apr 2025
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Very confusing! Is this a good thing or not?
Lemmy always tells me that billionairs get rich by stealing from the poor.
As the rich got a lot poorer today, did the poor now get richer? Hooray for trump for reducing wealth inequality?
Tariffs are passed to the consumer so the rich can stay rich.
If that's true, we can expect businesses to not be affected, and stock prices to remain stable
Price hikes is NOT good for business. People are going to be angry.
If it's not good for business, then that's not good for the stockowners. Which is mostly the rich.
If the rich loose money, then the poor get richer?
If gas tanks were money, and you are worth $100K, let's say your car has a 20 gallon gas tank, a billionaire would have a 200,000 gallon gas tank. Think of these terrifs as something that harms "gas mileage". The guy with a 200,000 gallon tank may care, but realistically poor gas mileage is never going to effect their quality of life like it will us regular folks.
Money is very rarely transferred from the rich to the poor. When the rich lose money it's going to other rich people or corporations.
The price of groceries goes up, but the price of luxury goods is relatively unaffected. So, for example, the price of a yacht will go up by how much more it costs to fill it's fridge...
When the market is up, the rich reap the benefits. When the market is down, the poor pay the price.
It's possible for the rich and poor to both suffer. Of course, when the rich "suffer" that mostly means they can't have all the new things they want and have to settle for the excess they already have. When the poor suffer, they're devastated and unable to live a decent life.
(Yes, the rich get richer by stealing from the poor. A worker at Amazon causes $N to be paid to the company from her efforts, but Amazon will pay her less than $N so they can make money. The difference goes to the rich, whose only contribution was having their name on the paperwork. Billions and billions of dollars flowing toward people who are doing, at best, hundreds of thousands of dollars' worth of actual work themselves. There aren't enough hours in the day to earn the money these people are raking in. It should be going to the people actually doing the work.)
It's worse than that even, it's not that they can't have all the new things they wants etc. they still get all that, their only "suffering" is that their magic high score number goes up at a slower rate, or goes down a little. They (billionaires) see no effective impact of any of this.