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Trump says 100% tariffs on China not sustainable, still plans to meet Xi (www.reuters.com)

submitted 3 weeks ago by yogthos@lemmygrad.ml to c/us_news@lemmygrad.ml

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[–] yogthos@lemmygrad.ml 14 points 3 weeks ago (1 children)

For sure, it's a combination of factors. On the one hand, they really think they're superior, but on the other hand they don't see the cost of being wrong to be high for themselves personally. So, it becomes a very profitable game with low stakes in terms of negative impact for the people involved.

[–] Maeve1@lemmygrad.ml 7 points 3 weeks ago (1 children)

Why would it be high stakes for themselves personally, I'm sure real assets are secured abroad.

[–] yogthos@lemmygrad.ml 6 points 3 weeks ago

Exactly, not only are they largely insulated from the crisis, but they would also be in a position to benefit from it. Should a crash happen, then a lot of people will be forced to let go of their assets and that makes them available for the billionaires to vacuum up.