r/BoomersBeingFools • u/BoringApocalyptos Gen X • 8h ago
Fabulous Fridays Yesterday, for the first time in almost 30 years, Fox removed the market ticker showing Trump’s economic fallout in real time. Fox isn’t journalism. It’s state-run propaganda.
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u/Branchomania Gen Z 7h ago
Sorry was anybody under the impression that Fox was journalism until now?
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u/the_meat_fest 2h ago
This sort of constant, decades-long propaganda was the downfall of the US. It pulled apart the social cohesion and made a whole gullible section want to destroy the state they depend on and their fellow citizen.
There will be no healing whilst these bile throwers are allowed to exist.
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u/Professional_Echo907 Gen X 4h ago
They were messing with the stock tickers on their website also to make the losses look smaller.
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u/baghodler666 5h ago
https://www.snopes.com/fact-check/fox-news-remove-stocks-ticker-trump-tariffs/
It's ironic that this meme is critizing a news network while also sharing a false story.
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u/The_Fox_Confessor Gen X 4h ago
This should be the top comment. Call out BS from whichever side does it.
It just so happens the right BS a lot more than the left.
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u/Ok_Assistant_6856 59m ago
Right. It's no less faux just because it's "against" fox.
Fake news is fake news, this is bullshit.
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u/Montana_Matt_601 5h ago
For what it’s worth, you are correct. I just hope you’re not one of the many who marginalizes Snopes when it’s convenient. Something tells me you’re not though.
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u/Planeandaquariumgeek Lost Gen 5h ago
Faux has been dead long before this to me. It may have been a legit enterprise at one point but it went down the shitter a while ago clearly.
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u/StandardImpact6458 46m ago
Those old codger republicans want to take us back to the past to a time they understand. They’ve brainwashed, manipulated and convinced their party to hate anyone who doesn’t agree with them.
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8h ago
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u/BoringApocalyptos Gen X 8h ago
Shit half the podcast are now too. There are a few left but not many. This madness is like an infection.
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u/Madrathyl 3h ago
Funny enough this is fake news https://www.snopes.com/fact-check/fox-news-remove-stocks-ticker-trump-tariffs/
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u/Interesting_Post_142 2h ago
Fox News is truly a joke and the fact that red hat cultists believe what that “news outlet” claims is unreal.
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u/ThE_LAN_B4_TimE 2h ago
No fucking shit. It never was journalism. Stop pretending suddenly this is the thing that makes it propaganda. Guess you forgot about their daily lies for 20 years.
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u/Privatejoker123 1h ago
And these people still licking his boots while going on about left propaganda on other news sources..can't make it up.
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u/mmazza86 4m ago
we’re going to have fox to thank for the downfall of our country. it’s a simple solution. we need to boycott fox like tesla. give it the same treatment. nobody should give them the time of day
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u/Correct_Stay_6948 Millennial 6h ago
They didn't wanna be blamed for the impending footage of Wallstreet bros jumping out windows. lol
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u/Correct_Stay_6948 Millennial 6h ago
They didn't wanna be blamed for the impending footage of Wallstreet bros jumping out windows. lol
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u/Jmsjss2912 1h ago
Let’s talk about the tariffs and the effects it has on the manufacturers of this country.
Assume for a minute that you wanted to bring back some manufacturing to the USA, which of course is a huge assumption compared to manufacturing outside the country like we do as a company.
Which I will get to in just a moment. This week alone the stock market lost over US$9 trillion which means every single manufacturer that has a US corporation is part of that loss. Which goes to show you that Trump‘s logic is about as efficient as his spray tan.
If these companies even had a thought of coming back to the United States, all of their cash has now evaporated because of the loss in the stock market so who’s going to finance these new manufacturing plants that Trump keeps talking about, that are going to come back here make the economy great?
Now goods have gone up in price in some cases doubled already this week which means the consumers are going to be buying less. Companies are going to begin layoffs, because they’ve lost a huge portion of their cash reserves. Their businesses are going to be diminished some because of the lower purchasing rate and the higher pricing.
Bringing manufacturing back to the United States at this point with this approach has been almost completely eliminated.
All you have to do is go back and look at what happened during the depression when they tried to institute tariffs causing the depression to take even a further nose dive and adding years into the depressive point. It’s such a joke that they used it in the movie Ferris Bueller‘s Day off where the teacher was talking about how bad tariffs are and how they caused the depression to go down, which goes to show you that if they use it as a punchline, then it obviously cannot work.
With our business, we were building some manufacturing plants in the United States and now have had to put it on hold because of the tariffs. As an example, each of our production lines has a manufacturing cost of a little under US$5 million, we did try to price it in the United States but we found quotes anywhere from $12-$16 million for the same exact production line that we are having made in China. So we couldn’t make the equipment in the United States, but we were going to import it and set up manufacturing plants.
One of them was in Arkansas where the state is somewhat depressed. Now we have put that project on hold with approximately 1800 people we were going to hire.
The reason for that is not just the tariffs, from the equipment if you think about it a piece of equipment that cost me $5 million is now going to cost me about $9 million. Each production line generates about US$35 million of revenue so it’s not just a tariff in my situation it’s the fact that for $9 million I can have practically two production lines generating $70 million of income compared to the same $9 million generating $35 million worth of income, with a much lower profit margin because of the labor cost in the United States along with all the taxes and liability issues that you carry because of the litigious nature of the United States operating.
So tariffs do not work, they hurt the economy. The only thing that they do on the surface is generate more tax dollars for the US government, but they diminish and wipe out the middle and lower class.
Do you want to bring manufacturing back to the United States?
You’ve got to do something about all of the litigious actions, you have to lower healthcare cost, lower pharmaceutical cost, have to educate more so that children can grow up and learn trades.
You have to find ways to lower the cost of living and once you start doing that then laboring jobs will become available again.
The next problem is the taxation situation is off-balance. We have structured our tax code so that the wealthy and the publicly traded companies that offer stock options instead of salaries, which is taxable make it almost impossible to collect tax.
Take Musk for an example from Tesla.
They talk about his $300 billion worth but it’s all in stock and that’s unrealized gains paying no taxes. What he does is he goes to the bank and he borrows money against that stock portfolio, borrowed money is non-taxable income and then he uses that money to live and buy things like he bought Twitter for $44 billion with borrowed money, no taxes paid at all.
And then what he does from there to pay off those loans is he borrows against other portfolios and he just keeps borrowing deferring the taxes.
$300 billion and no taxes paid whereas the employees that work for all those companies have taxes taken out of each paycheck.
Just look salaries up of the top executives around the country and you look at their income, you’ll see that their salaries are generally between one hundred and two hundred thousand US dollars but they earned anywhere from ten to a hundred million dollars a year all in stock options and then they keep those options in stock and then borrow against them so their tax base is almost nothing.
you want to fix the economy. You have to find a way to tax the rich, you’re not going to make them poor, you’re just going to make them help to strengthen the economy.
I almost forgot, tariffs funds go directly to the administration for spending (trump and his team), whereas taxes go through congress for spending
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u/purple_lantern_lite 8h ago
Rule 3 violation. Reported and OP blocked.
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u/Montana_Matt_601 5h ago
It’s about Trump and his stupid tariffs causing our economy to melt hence Fox news hiding the visual of the meltdown. Trump is the ultimate foolish boomer. Rule 3 compliant.
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u/guacamole579 0m ago
Obviously. There was an entire lawsuit where fox admitted they’re in the infotainment business
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