Quote (thesnipa @ 5 Mar 2020 22:12)
i still have yet to see much evidence that billionaires feared a market crash if trump was elected. the media said it, but they said a lot of things. people suggested we'd be at war with multiple countries. people suggested Trump would bog down the DOJ to drag out an HRC investigation. etc etc etc
it was clear he wanted tax cuts, military spending, and general deregulation. he got a massive uptick in the stock markets once elected literally a year before any of that was even delivered on. people bought stocks just on the promises.
Iirc, stocks went up right after Trump struck relatively moderate and reconciliatory tones during his victory speech on election night.
Quote (IceMage @ 5 Mar 2020 21:35)
[The oligarchs] also hate the tax and regulation cuts. And the bloated defense budget.
Trump didnt run on reliable Republican orthodoxy though. He ran as an unpredictable insurgent. His main campaign themes on the policy front were a hawkish stance on immigration ("build the wall") and free trade/globalization (withdraw from NAFTA, cancel TPP, put TTIP on ice). Those policies were not in the interest of the oligarchs, not at all. During the race, the oligarchs/donor class simply couldnt be sure about how serious Trump was with his campaign promises.
It was reasonable to bet on him delivering tax cuts and deregulation, but the other stuff would have far outweighed it if Trump had really pulled through with it. Which brings me back to main argument: despite obvious upside, a Trump presidency was a risky proposition for the donor class. In retrospect, we know that it turned out quite fine for them, but they couldnt possibly be sure of this outcome ahead of time.
This post was edited by Black XistenZ on Mar 5 2020 03:30pm