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   ScoWer22 (scower22@noauthority.social)'s status on Thursday, 10-Apr-2025 00:08:18 JST ScoWer22

   Who had 60% down before recovery?

   • Embed this notice
     djsumdog (djsumdog@djsumdog.com)'s status on Thursday, 10-Apr-2025 00:08:16 JST djsumdog

     in reply to

     • Sir Ounded by Slaves ⭐

     There was never an account for 2008. It seems likely all the banks called in their blackmail favors during the second TARP vote. 80% of Americans were against it, even those who had lost huge chunks of their retirement.

     But the banks were bailed out and lenders who committed outright fraud on mortgage documents were never prosecuted.

     I think many would have been happy in 2008 if the market stayed low if banks would have had to sell back their mortgages to home owners for 75c on the dollar. We would have seen broad level deflation and everyone's dollar would be worth more. Instead the tax payer bought up everything $1 for $1 in a financial coupe.

     There is no parallel here. Unless there are massive income tax cuts, this is just a federal sales tax. Remember that Biden tried to get in "unrealized gains" taxes (which would have meant Federal property tax!).

     With all the DOGE cuts, executive budget spending is somehow up! The US is spending more and taking in more taxes. I agree the market will fix itself and people need to stop freaking out, but I also think some people are so MAGA brained they can't even say tariffs are a blunt instrument and a new tax. They'll defend it as some "art of the deal" shit.

   • Embed this notice
     Sir Ounded by Slaves ⭐ (max_imum@noauthority.social)'s status on Thursday, 10-Apr-2025 00:08:17 JST Sir Ounded by Slaves ⭐

     in reply to

     @ScoWer22 that graph actually says a lot. A bunch of people do not understand the difference between the market and the economy.

   • Embed this notice
     Sir Ounded by Slaves ⭐ (max_imum@noauthority.social)'s status on Thursday, 10-Apr-2025 00:52:11 JST Sir Ounded by Slaves ⭐

     in reply to

     • djsumdog
     • cjd

     Hopefully they kill income, property and sales tax
     @cjd @djsumdog @ScoWer22

   • Embed this notice
     cjd (cjd@pkteerium.xyz)'s status on Thursday, 10-Apr-2025 00:52:11 JST cjd

     in reply to

     • djsumdog
     • Sir Ounded by Slaves ⭐
     Killing income tax seems to be in the cards. That'd be a great day.
     
     It makes a lot of sense, instead of taxing *every* transaction, just tax the ones which cross between USA and other (less friendly) countries.
     lainy likes this.
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     cjd (cjd@pkteerium.xyz)'s status on Thursday, 10-Apr-2025 00:52:13 JST cjd

     in reply to

     • djsumdog
     • Sir Ounded by Slaves ⭐
     > Unless there are massive income tax cuts, this is just a federal sales tax.
     
     There kind of has to be. Raising taxes outright in this situation is a recipe for total financial decimation of the US, as in, bondholders get screwed. That's to say, people will start drowning in their bathtub before this ever happens.
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     Sir Ounded by Slaves ⭐ (max_imum@noauthority.social)'s status on Thursday, 10-Apr-2025 01:27:09 JST Sir Ounded by Slaves ⭐

     in reply to

     • djsumdog

     2008 was a completely planned theft of American wealth.
     @djsumdog @ScoWer22

     djsumdog likes this.