🧵 The financial stability implications of the techbro fascist coup smashing are frightening. Also, again, the lack of panic about this from the Usual Suspects lays bare how deeply unserious the "Obama is causing economic uncertainty" nonsense was back in the days of yore: bsky.app/profile/mcop... - ThreadSky

mcopelov.bsky.social • 16 days ago

🧵 The financial stability implications of the techbro fascist coup smashing are frightening. Also, again, the lack of panic about this from the Usual Suspects lays bare how deeply unserious the "Obama is causing economic uncertainty" nonsense was back in the days of yore:

https://bsky.app/profile/mcopelov.bsky.social/post/3lhjmpo45mk2x

Reposted from graham steele

Here's my piece with @rooseveltinstitute.org colleague Emily Divito on how the Musk-Treasury payments scandal is worse than it appears.

When people lose trust in the money and payments systems, that's how panics, bank runs, and financial crises happen. 1/
news.bloomberglaw.com/tax-insights...

Comments

gdunn48124.bsky.social•16 days ago

This is all about the Network State. It's a coup.

mcopelov.bsky.social•16 days ago

The only thing more disheartening than the craven silence of university leaders right now is the craven silence of every Wall Street/Fortune 500 CEO, all of whom should also be on the ramparts yelling for this to stop. Even if they don't care about democracy, the economic implications are enormous.

ajparkes.bsky.social•16 days ago

I'm guessing they are putting massive pressure on trump behind the scenes. If they were expressing fears in public it might cause panic on Wallstreet.

jasonvwells.bsky.social•16 days ago

I'm curious to see how Republican legislators respond once the inevitable economic fallout starts. My guess is the incentives change dramatically when the deep recession hits and unemployment jumps up to 7-8%.

dannyrubin.bsky.social•16 days ago

The billionaire class wants 7%+ unemployment. That’s part of the plan. They are unhappy with the wage gains of the last 4 years.

worldpeacecookies.bsky.social•16 days ago

Right?! Are shareholders not at least a little concerned?

kproud.bsky.social•16 days ago

only a weak president would allow such incursion.

sattelitedog.com•16 days ago

No rest assured when it all comes out in the wash it will for sure be "Obama did it" The time tested excuse that America has been using since it's inception. The other did it. We will see how well it works this time.

rockytech.bsky.social•16 days ago

Of court was nonsense. Anyone with even a passing understanding knew it was nonsense.

goconnor.bsky.social•16 days ago

How do make crypto look good? Make the dollar look bad!

algrhythm.bsky.social•16 days ago

I’m about an inch away from cashing out.

beefreeferlives.bsky.social•16 days ago

Same as it ever was

micah541.bsky.social•16 days ago

Oh God I remember the "we can't make the business when we don't know what regulations congress will openly debate and enact over the next 18 months"

enigmanaut.bsky.social•16 days ago

I don't which is more frightening: the thought that damage Musk is wreaking is because he doesn't know what he's doing, or if it's because he does know what he's doing, and it's what he is after.

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