1. Give your friends notice that you are announcing massive #tariffs. Let them sell.
2. Announce tariffs. Stock markets plunge.
3. Give your friends notice that you are going to pause tariffs. Let them buy.
4. Announce a pause.
5. Profit both ways!
Yet another way for the #oligarchs to steal from the middle class who keeps a lot of their retirement money in #401ks.
If you are rich, they let you do anything!
Remember those #IRAs & #401Ks we got sold on in the 80s? The #GOP's idea was if Americans' retirement money was invested in the stock market, they'd be more invested in & therefore more sympathetic to the desires of corporate interests.
But were corporate interests invested in & sympathetic to our needs?
Nope.
And now they want to do the same to #SocialSecurity & make us 100% dependent on such vagaries of the stock market in our old age.
One month we can pay bills, the next not.
Whatev.
Once, workers had "#DefinedBenefitsPensions," where employers promised to pay a certain amount every year from retirement to death. #JimmyCarter swapped that out for #401Ks, "market" pensions where you have to guess which stocks will be valuable or starve in your old age:
https://pluralistic.net/2020/07/25/derechos-humanos/#are-there-no-poorhouses
-
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
https://pluralistic.net/2023/11/08/fiduciaries/#but-muh-freedumbs
1/
