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Summary
Home Depot co-founder and GOP megadonor Ken Langone blasted Trumpās sweeping tariffs as ābullsāt,ā calling the 10% across-the-board rate and country-specific hikesālike 34% on China and 46% on Vietnamāātoo aggressiveā and poorly calculated.
Langone criticized the administrationās formula, based on trade deficits, as nonsensical.
Other prominent figures, including economists and billionaires like Stanley Druckenmiller, Bill Ackman, and Elon Musk, have also spoken out.
Critics warn the tariffs hinder negotiation and lack sound economic grounding. Langone said Trump is being āpoorly advisedā on trade policy.
These kinds of people could lose 90% of their wealth and nothing material would change in their lives (ok maybe after they drop down to mere 100 millionaire status theyād have to sell the mega yacht). Itās hilarious to see people like this getting upset because ānumber went downā, when they could just choose to not be upset about it-- theyāre literally too broken in their brains to be happy.
But they need their 16th new mega yacht this week!!!
/s
I donāt think itās just about possessions for them, itās about power, influence. If he getās slightly poorer, he may no more be able to buy politicians and make them do what he wants.
You can buy a US congressperson for as little as $10-15k depending on the state, so that really canāt be it. Check OpenSecrets for confirmation.
Thatās the goal. Burn down the forest and scoop all the assets of the businesses that died.
They have mental illness - OCD and Hoarding.
If I collected old newspapers, or cats, or old vehicles, etc., far beyond what anyone would consider normal, Iād be called a hoarder, and people around me would try to get me medical attention.
But when these people do the same thing with money, they are practically worshipped, and they are encouraged to hoard more, and use their money to change the laws to get them even more money to hoard. Imagine someone who is hoarding hundreds of cats, and actively breeding more of them. NOBODY would encourage it, they would take the cats away, and find them new homes, and get psychatric treatment for the hoarder.
We need to treat billionaires like the financial hoarders that they are. Take away their hoard, and discourage hoarding behavior in the future, for the same reasons that we would remove the cats - because itās bad for society.