“President Trump’s net worth,” the group estimated, “could roughly be #$15.9 billion, with about $11.6 billion in uncounted crypto assets.” This would mean crypto accounts for 73% of his net worth.
Trump would be one of the foremost beneficiaries of this bill, which would exclude digital assets like his $TRUMP and $MELANIA “meme coins” from SEC regulation.
Not only does this benefit Trump, said Accountable.Us executive director Tony Carrk, but the legitimization and entrenchment of these unstable assets has the potential to make the whole economy less stable.
“Eerily reminiscent of the risky behavior that gave us the 2008 financial collapse, Donald Trump is ushering in a new era of casino-like speculation on Wall Street with highly volatile crypto trading in retirement accounts,” Carrk said.
If you take a close look at the trajectory from 2008 and the wage, asset, and income inequality trends from the stagflation days to today you’ll find that imprudent rate cuts have been the name of the game for awhile now. Yeah Trump will overcharge it and cause the massive collapse and inflation faster but it’s coming regardless. Powell ain’t no Volker but even Volker couldn’t fix the absolutely shit fundamentals the neolibs have fooled themselves into thinking a healthy economy is made of.