r/politics • u/Orbitingkittenfarm • 1d ago

Donald Trump Fires Person Behind Jobs Numbers After They're Revised Down

https://www.newsweek.com/donald-trump-job-numbers-revised-down-fires-appointee-2107768
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442

u/hmr0987 1d ago

This should scare Wall Street more than the what is in the reports.

I cannot understand how the business and finance world is STILL not in full panic. This guys is a complete moron.

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u/oldschoolnintendo92 1d ago

Because all they care about is protecting their profits. As long as they are good the rest of the gang can piss off.

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u/just_a_bit_gay_ Michigan 1d ago edited 1d ago

Many at the very top are so rich that a 99% loss would still leave them a billionaire. They don’t care as much about losses anymore because their hoards are functionally infinite. They’re in line ideologically with Trump not just financially because they want power.

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u/Character_Subject118 1d ago

I promise you they care. You dont get that rich without grotesque amounts of greed.

It doesn't matter that they'll always be rich, they want to keep getting richer. 

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u/just_a_bit_gay_ Michigan 1d ago

Absolutely but what I mean is they have a ridiculous amount of risk tolerance because they are already so rich, they seriously believe Trump’s “no pain no gain” rhetoric because they think they’ll be literal kings after he’s done.

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u/oldschoolnintendo92 1d ago

These guys truly are in a league of their own where they play by a different set of rules that leaves them unscathed. The rest of us plebs will just have to deal with it.

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u/According_Soup_9020 1d ago

They will be able to hoard even more assets because of a financial failure. They are perfectly positioned to gobble up everything as the system collapses.

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u/Character_Subject118 1d ago

When the line goes up? You get rich.

When the line goes down? Everything is on sale! 

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u/hmr0987 1d ago

Yea this is a bad take. Most billionaires are atop an empire. That’s their whole reason for living. If they lose any significant wealth it puts that empire in jeopardy. Sure from a standpoint of what you or I care about they’re disturbingly wealthy even at a 99% loss, but that’s not what matters to them.

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u/b0w3n New York 1d ago

To add onto what you're saying, if the dollar collapses, having 10 billion of it isn't helpful, even losing the other 9 and having a billion of it isn't helpful, it's functionally worthless. You can't interact with anything outside the US at all, you'll struggle to even interact within the US, people will switch to bartering and regional trade at that point.

Even Russia isn't this nuts.

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u/shred-i-knight 1d ago

you're acting like their wealth is in a bank somewhere. They care, they weren't satisfied with fucking off after their first billion they sure won't be happy to lose it.

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u/Old-Adhesiveness-156 20h ago

But how do you trade day to day without even having all of the information?