Krugman has this to say about it:
For those not familiar with how financial markets work, US Treasuries are the ultimate safe asset, used as collateral for everything. Even a hint that some Treasuries might not be honored could bring everything to a screeching halt
Musk and Trump are both in the habit of stiffing people they owe money. If markets even suspect that this habit will extend to Treasuries, God help us
2nd week in a row he has tried to crash the market over the weekend for Monday morning.
I’m guessing all his hedge fund asshole/twat stain friends already purchased their puts and agent orange is providing the catalyst.
I think the “freeze all federal spending” from a couple weeks ago could also qualify.
Why betting on stocks to fail is allowed in the US and elsewhere is beyond me, it always leads to this type of rich people trying to game the system to get even richer at the cost of everyone else around them. It’s a sign that the wealth-concentration and inequality is out of control + captured the mechanisms that should be regulating and preventing this from happening altogether.
What was the previous attempt? I’m falling behind in this gish gallop.
Tariffs
Last weekend it was the Mexico/Canada “25% tariffs” that he pussied out on and reversed his decision on both countries by Monday morning.
Just as a note Tariffs are back on (but only for steel/aluminum).
Hello. English new just learning for me. Please, what is twat stain?
Twat is slang for a woman’s vagina.