This guy is actually destroying the capital. Ruining the richest men on earth. He should stay in place, and unhinged longer and longer.
When he will crash the stock market enough, and manage to do what no revolution ever did, then the workers will have enough power to seize the mean of production, since the stocks will be so cheap, and the former billionaire on their knee without their imaginary wallstreet wealth.
I suppose there are some downside I have a blind-spot on, but for now trump seems to be the best anti-capitalist tool there ever was.
What are some tankies thinking?
Crashing the stock market doesn’t destroy capital. The market crashing means that the sale price of shares are reduced temporarily. Shares are still a proportion of ownership in a company. The rich will still own the overwhelming majority of all shares no matter the share price. The reduced prices also allows the rich to buy up shares from ordinary people who had to sell to afford necessities. Capitalists use economic crashes to further entrench themselves.
Even if companies fail and collapse, any valuable assets will be taken by other companies. A crash doesn’t destroy capital, it just reorganizes it.
The US has gone through much bigger crashes than this, and none of them dismantled capitalism, and neither will this.
If you want to dismantle capitalism you have to actually put in the work of dismantling capitalism.
I disagree on the basic idea that a stock market loss doesnt destroy capital.
For me the definition of a capitalist society, is that the revenue of capital out perform the revenue of work. Based on that, if a stock market stop providing crazy return. Then the revenue of capital is reduced. Hence you move toward a less capitalistic society.
But as you said there are always other capital owner (Warren Buffet at the moment) to keep the system afloat, and it will just be a reorganization of wealth between wealthy.