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Deminpenn

(17,172 posts)

11. Been reading Sorkin's new book on the

Sun Nov 2, 2025, 05:43 AM

Nov 2

1929 stock market crash and its after effects.

What struck me was his observation that while the big market players would recover, the everyday Americans who lost everything now had little to no money to spend on themselves or anything else. In other words, the market crash pulled money out of their pockets and that lost spending power is what led to the Depression. Something similar might be at work now. Money in the form of lost wages and benefits and higher costs due to Trump tariffs is pulling the money that drives the economy away from the people who spend it. Walmart recently said that they expect lower sales because of the loss of Nov SNAP benefits. It's not that far a leap to companies laying off employees, which expands the labor pool competing for jobs, and cutting wages and benefits. All of which can easily lead to a recession perhaps rivaling 2008.

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Hugin Delmette2.0

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Highlight:

Billionaires Step In to Help Plug Food Aid Gaps During Shutdown [View all] BumRushDaShow Nov 1 OP

What a joke SamuelTheThird Nov 1 #1

It takes 1,000 MILLION popsdenver Nov 1 #5

How much is the musk foundation providing? Klarkashton Nov 1 #2

I wonder if there's a word for regular required payments by them for the public good. rickford66 Nov 1 #3

I think I remember something about that... Hugin Nov 2 #14

BINGO rickford66 Nov 2 #18

And just what are they getting in return? Nt Javaman Nov 1 #4

Not the ballroom Marthe48 Nov 1 #7

Tax write off? fujiyamasan Nov 2 #9

It's better than nothing Marthe48 Nov 1 #6

It's a slap in the face. They are the ones who have taken all our money away. travelingthrulife Nov 2 #15

Being appreciative is gracious Marthe48 Nov 2 #17

Tax these assholes, valleyrogue Nov 1 #8

Drop in the bucket indeed. Billionaires put Shitler in office and caused this mess! SunSeeker Nov 2 #10

Been reading Sorkin's new book on the Deminpenn Nov 2 #11

" to suspend food-aid benefits is likely unlawful,". Well wft, which is it, lawful or unlawful, Hotler Nov 2 #12

This. Our legal and Congressional systems are ridiculous. travelingthrulife Nov 2 #16

Almost 800 billionaires live in the U.S. berniesandersmittens Nov 2 #13

I'm sure Trump will charge for shipping and handling. rickford66 Nov 2 #19

I don't see any Elons or Musks on the list. JohnnyRingo Nov 2 #20