this is an immediate global depression button if they touch it, you cannot simply decide not to honor some treasuries without the total collapse of the financial system I’d like to think even they aren’t that stupid, but… - ThreadSky

rincewind.run • 13 days ago

this is an immediate global depression button if they touch it, you cannot simply decide not to honor some treasuries without the total collapse of the financial system

I’d like to think even they aren’t that stupid, but…

Reposted from BrokenBanker

headlines on Bloomberg:

Comments

courtjezter84.bsky.social•13 days ago

This is that coconut in the wall type of stuff isn’t it

usagibrian.bsky.social•13 days ago

They seem to be taking the quickest path to everything, and triggering a global depression was fairly high on the list, so seems like a good weekend to pull it out.

merveille.bsky.social•13 days ago

Isn't this what, like, Hamilton and Madison fought about?

curiouscitizen.bsky.social•13 days ago

Musk of all people should know the importance & complexities of interdependency…

https://bsky.app/profile/curiouscitizen.bsky.social/post/3lhrpeeflhs2h

takel.gryph.one•13 days ago

you say "musk of all people should know" like it's even possible for the following words to resemble something that he'd be capable of knowing, let alone expected to

soyweiser.bsky.social•13 days ago

At this point I think they are going to be stopped by either being put in jail, or by breaking something they cannot unbreak.

deadbarchetta.bsky.social•13 days ago

Never underestimate the stupidity of the Trump administration. He is a stupid man who surrounds himself with other stupid people, and any group of people on the whole is going to be stupider than the individuals in it.

mikkiofontario.bsky.social•13 days ago

Hence the new distracting tariffs

springtick.bsky.social•13 days ago

If this doesn't cause Wall Street to call Trump and go "WHAT THE FUCK ARE YOU DOING!?" then I don't know what well

romabysen.bsky.social•13 days ago

Maybe it was a bad idea to make a man famous for never, ever paying his bills president

miahhe.bsky.social•13 days ago

https://www.ft.com/content/7757e480-6aae-4a61-986e-52a2c2690f91

guilrosmer.bsky.social•13 days ago

Not only are they that stupid, but they'll get in front of a camera and say repeatedly everything is fine and there is nothing to worry about.

When it becomes impossible to ignore the problem, they'll have thought up a good means to blame it on someone else and pretend they tried to fight it.

johnlinen.bsky.social•13 days ago

But they are, Blanche! They are that stupid!

kithrup.bsky.social•13 days ago

I suggest that this is a litmus test to see how much the GOP has kowtowed to him.

jctenton.bsky.social•13 days ago

people talking about hot stoves while these motherfuckers finding a way to stick their hand inside an active fusion reactor

alwaystotyrants.bsky.social•13 days ago

To be fair to Elon, there was apparently a printing error that caused some treasuries to be printed with "Some faith and credit of the US"--those bond salesmen should have known better.

mostlybree.kitrocha.com•13 days ago

as usual, the best news for us is that they don't know what any of the buttons do.

the worst news for us is also that they don't know what any of the buttons do.

phoenixfire.bsky.social•13 days ago

Best outcome for us is that they press the buttons that end up getting them all Maidan'd.

The worst outcome for us is that they press the buttons that end up making the entire world go full 99 Luftballons

metabluesky.bsky.social•13 days ago

They are in 100% "even Nedry didn't touch the raptor fences" territory now, so....yes, I do think they are precisely that stupid.

stanton.bsky.social•13 days ago

This is the same administration who could not be assed to understand the implications of doing nothing while people died in literal piles from a deadly and contagious disease. They are that malevolently stupid.

lorireddragon.bsky.social•13 days ago

Yes, they are that stupid.

guyfleeg.bsky.social•13 days ago

It's really the speedrun of the bankruptcy of his atlanta casino all over again isn't it?

doyle.boston•13 days ago

This is def a mafia tactic to get them to suspend the debt ceiling

anarchymarshmallow.bsky.social•13 days ago

If I've learned anything since 2015, it's that people are stupider than I ever could have imagined. And the fact that people warn them not to touch the button is going to make them more likely to do it just because they have the psychology of a bratty 2 year old.

lemonade-cat.bsky.social•13 days ago

this is not a left-wing perspective by the way, that everyone around you is an stupid idiot.

mad-max.bsky.social•13 days ago

We’re doomed

david.uncensored.zip•13 days ago

my read is more cynical - someone made large bets against the dollar and this is to drive down its price.

Monday Afternoon trump/musk will announce its all good.

(elon has pulled this maneuver multiple times with tesla)

malaclypse.bsky.social•13 days ago

How much do you want to bet that the "irregularity" is that the Soc Sec Trust Fund holds Treasuries?

paulwartenberg.bsky.social•13 days ago

serious question: how will the financial system collapse if trump/musk default on the treasury? will the dollar devalue, the stocks crash, something else?