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Trump Has Promised to Build More Ships. He May Deport the Workers Who Help Make Them.
(www.propublica.org)
this post was submitted on 02 Jan 2025
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But it's just another way things will implode economically.
The "implosion" of oligarchs profit margins isn't something any of us need to worry about. Over the short term, the vast majority of us will benefit from it - like 90% of the population stands to gain, 10% will break even, and the billionaires will see their income reduced.
In the long run, putting more disposable income into the hands of working Americans will be a driver of economic growth.
Implosion of oligarchs?
You are sadly mistaken that the fallout will harm the wealthy. They aren’t going to throw up their hands in despair, they’ll just further attack worker and consumer protections, salaries, benefits, retirement funds and all the rest. I don’t know what planet you live on where the oligarchy just go ahead and hand out money to the masses because their exploited labor force got deported. They just find new bodies and exploit even harder when they’ve already made it a mission to crush the middle class.
Yeah, its not credible to claim that large, profitable enterprises will "implode" if the supply and demand curve shifts slightly.
At the most cynical level, businesses that depend on cheap labor from undocumented immigrants will get squeezed as their labor costs increase.
America's Military Industrial Complex isn't going to fail if market forces require they offer more money to secure a sufficient supply of labor.
When I think of implosion and oligarchs, the image of a submarine springs to mind.
Too bad none of Trump's policies will do that.
I'd say what happened in 1929 suggests otherwise.
What happened in 1929 was a result of low wages and high unemployment pulling the rug out from under the economy, and therefore it suggests that policy that leads to higher wages and lower unemployment is needed to prevent a repeat.
Sure, that stock market crash that destroyed a whole lot of wealth had nothing to do with it. Nothing at all.
It crashed because people were broke.
People were broke because it crashed.
That is simply false.
🙄
You're welcome to roll your eyes, but you made a factually incorrect claim.
And the cost of living was simultaneously driven up by an idiotic tariff policy that caused a collapse in global trade. Which directly led to less demand for labor, hence the low wages, hence the high unemployment.