Tesla and SpaceX CEO is eyeing a position as ‘Secretary of Cost Cutting’ if Republican prevails in November 5 election.

Deifict hawking in the US in 2024? Sounds great for global capitalism. US is THE consooming engine.

Atleast Argentina is a smaller country. Atleast Russia was disconnected from rest of the capitalist world pre 1990s.

And it’s by no means “radical”. Bill Clinton the neoliberal establishment guy ran budget surpluses in the 1990s, sucked money away from the (mainly poor) people and increased household debt.

      • FuckyWucky [none/use name]@hexbear.netOPEnglish
        10·
        13 days ago

        ‘rapid recovery’, the economy will be cut in half and stagnate there for decades. it’ll be Greece but worse. I don’t think it’ll be very good for China and other exporting countries either at least in short term but they’ll recover if they also don’t do the same austerity.

        • vovchik_ilich [he/him]@hexbear.netEnglish
          5·
          12 days ago

          The EU, in GDP per capita terms, barely recovered from 2008 and the latter austerity policy. In purchase power terms, it’s sunken below what it used to be before 2008, even with China’s growing industry and cheaper exports driving down the prices of many consumer goods.

  • xiaohongshu [none/use name]@hexbear.netEnglish
    25·
    13 days ago

    Honestly if Trump follows Elon Musk’s genius 2 trillion cuts it’s going to seriously fuck with the US ability to do imperialism for the coming decades.

    The last two years of Biden was a huge gamble for the imperialist state and basically praying that the Global South doesn’t end up ditching the dollar (it worked because no alternative has been found yet).

    Now the US needs to flood the Global South with the dollars again to retain its hegemony, and Trump cutting 2 trillion (which is a lot!) is going to destroy the monetary supremacy of US imperialism abroad.

    I’m starting to think that they won’t allow Trump to win this time because you don’t want to screw with the imperialist machine.

    • GeorgeZBush [he/him]@hexbear.netEnglish
      10·
      13 days ago

      I’m starting to think that they won’t allow Trump to win this time because you don’t want to screw with the imperialist machine.

      Which would unironically probably cause a civil war

  • came_apart_at_Kmart [he/him, comrade/them]@hexbear.netEnglish
    23·
    13 days ago

    I like how the pitch for austerity is always, “look, when we do this everything is going to get so much worse for an indeterminate amount of time but then I promise it will get better and everyone will be better off.”

    and no matter how many times it is done and only serves to ruin lives and devastate communities beyond recovery with no benefit ever being recognized aside from a tiny, ultra wealthy minority using the chaos to purchase control over critical resources and exponentially increase their net worth, they keep promising it will be different this time and everybody will benefit.