@BasedMikeLee Interesting tactic. When millions of normal people turn out to peacefully protest the most corrupt, fascist administration in the history of this country, all you can do is make fun of boomers’ dance moves. Truly pathetic.
@WhiteHouse Yes, you are built different. This administration is destroying the country and you’ve made the United States a total embarrassment internationally. It will take DECADES to recover from the damage that you’ve done to this country.
This post is from over a month ago. He said that asset prices going down will benefit Trump’s base, especially people who didn’t own stocks. @chamath - do you still think this economic fiasco that we’re witnessing is good for this country??
1. Trump is more popular with young people than old people. Most young people don’t own stocks or homes (aka they are asset-light).
2. Trump is also more popular amongst working and middle class folks. Most of these folks are also asset-light.
It stands to reason that a fall in asset prices (stocks down or home prices down) have very little impact on his core constituents. To that end, I won’t be surprised if Trump has little reaction, then, to an equity or home price market correction.
Separately, the upside of shrinking these asset prices is that it gives the folks mentioned above a legitimate chance to buy into those markets at lower levels, making equity ownership and/or home ownership more possible.
Tangentially, if Trump figures out how to get rents lower, he will unite young people and asset-light working people into a reliable voting block for the foreseeable future. He will have given them the trifecta: cheaper stocks, cheaper homes, lower rent.
Said differently, don’t presume that the stock market going up is a useful barometer anymore. In fact, it going down may be a better signal for his popularity.
Time will tell.
Wild to see how overwhelmingly negative the replies are on this David Sacks post where he celebrated a very very brief uptick in the market before it continued to plunge.
@texasrunnerDFW Are you seriously defending Trump’s actions right now?? He is a DISASTER for this economy and this country and there is no other way to spin this.
Seriously - shame on everyone one who voted for Trump, especially the influential people here on X who used this platform to help elect him, donated money to his campaign, and promoted him on your podcasts.
1. Trump is more popular with young people than old people. Most young people don’t own stocks or homes (aka they are asset-light).
2. Trump is also more popular amongst working and middle class folks. Most of these folks are also asset-light.
It stands to reason that a fall in asset prices (stocks down or home prices down) have very little impact on his core constituents. To that end, I won’t be surprised if Trump has little reaction, then, to an equity or home price market correction.
Separately, the upside of shrinking these asset prices is that it gives the folks mentioned above a legitimate chance to buy into those markets at lower levels, making equity ownership and/or home ownership more possible.
Tangentially, if Trump figures out how to get rents lower, he will unite young people and asset-light working people into a reliable voting block for the foreseeable future. He will have given them the trifecta: cheaper stocks, cheaper homes, lower rent.
Said differently, don’t presume that the stock market going up is a useful barometer anymore. In fact, it going down may be a better signal for his popularity.
Time will tell.
i might be a bit old fashioned. but i am not sure about a governing system in which critical food supplies for starving children depends on getting the twitter attention of one individual who is also simultaneously running several major companies and involved in numerous twitter spats
What an exchange: This imbecile is a moron who should stfu but i will look into it anyways and, yeah, he was right. (also, not clear the contract is actually back on)