During the 2024 presidential race, Donald Trump repeatedly claimed that the U.S. economy was terrible under then-President Joe Biden and then-Vice President Kamala Harris. But according to U.S. Bureau of Labor Statistics (BLS) figures, unemployment stayed under 4.0 percent from February 2022 through...
I seem to remember visiting their homepage last year sometime, and every headline was some variation on [Name of politician][aggressive verb][target of ire][reason for the spat], e.g.:
“John Bloggins slams Joe Blow for wearing a plaid tie”
“Mary Sue rips Judicial Committee for goat scandal”
“Peter Flarking haymakers Geraldo over unreturned library books”
People know that banks engage in all sorts of complex, stupid, and risky financial derivatives engineering. The only reason anyone has confidence in the banks is due to FDIC insurance. If they fuck with that, it will trigger a run on every bank in the country. I imagine Congress would step in to stabilize things, but it could be quite hairy for awhile.
Honestly, right now, for those who are able, keeping a decent chunk of cash in your mattress is no longer the game of cranks and weirdos.
Most people have no idea what FDIC is. They have confidence in banks because “that’s where you put money”. They have no concept of what their personal bank failing would mean.
If Musk said he was shutting down the FDIC, the vast majority of people wouldn’t care until after their bank failed. By then it would be too late.
5% is a free fall? They’re going to run out of superlatives next month.
Lemmy User Slams Rawstory
Lemmy user verbally eviscerated in legendary comment thread [xpost MurderedByWords CleverComebacks]
I seem to remember visiting their homepage last year sometime, and every headline was some variation on [Name of politician][aggressive verb][target of ire][reason for the spat], e.g.:
“MAGA republicans slam Trump for …” and your read the article and it’s one isolated tweet from some rando nobody heard of before.
Wait til these idiots try to abolish the FDIC.
People know that banks engage in all sorts of complex, stupid, and risky financial derivatives engineering. The only reason anyone has confidence in the banks is due to FDIC insurance. If they fuck with that, it will trigger a run on every bank in the country. I imagine Congress would step in to stabilize things, but it could be quite hairy for awhile.
Honestly, right now, for those who are able, keeping a decent chunk of cash in your mattress is no longer the game of cranks and weirdos.
Most people have no idea what FDIC is. They have confidence in banks because “that’s where you put money”. They have no concept of what their personal bank failing would mean.
If Musk said he was shutting down the FDIC, the vast majority of people wouldn’t care until after their bank failed. By then it would be too late.
I assume you meant stabilize, but given that Congress is controlled by Republican freaks, I’m unsure.
Are you surprised!? It has always been based on feels unless you think (check notes) Telsa is worth $360 per share.
I know, right? If you look at the PE ratio between say, Ford, and Tesla, it’s almost comical.
Shhhh the cybercucks might hear you.
Cybertrucks can’t hear very well. They have rust in their ears