General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBREAKING NEWS: Republican economists deem national economy "a disaster" after collapse of Truth Social stock
Following the rapid depreciation of the stock price for Truth Socialthe social media company founded in 2021 by former President Donald TrumpRepublican economists decried the overall state of the national economy, and placed the blame for the heavy losses squarely on the shoulders of one specific individual.
And who might that individual be? None other than President Joe Biden.
Truth Socials collapse is the direct result of the disastrous and stifling regulatory policies of the Biden economy, Right Side Broadcasting Network Business analyst Tom Patrick argued on air. President Biden is alone to blame for choking the lifeblood out of this once-thriving, revolutionary business.
While Truth Socials stock value soared to a height of over $70 per share after its initial public offering on March 26, it has since plummeted to under $50 a share after it was revealed that the company only generated $4 million in total revenue while accumulating $58 million in lost revenue.
Truth Social was truly the caviar of social media companies, Mike Robbins of Gateway Pundit Financial News declared. While Facebook might boast of having 3 billion users worldwide and Twitter might lay claim to 500 million users, Truth Socials lean-and-mean 600,000 users represents a far more exclusive club that ought to have been given first-class priority above all others in the market. Instead, it lay wasted and squandered like so many other once-promising ventures that met the deadly Biden Corporate Buzzsaw.
Some experts felt that the Biden Administration should have done far more to protect what they viewed as a truly unique commodity to the public.
Where else on the internet could you find a social media network so devotedly specialized towards the individual user? asked Breitbart Moneyworks contributor Riley Phillips. And by individual user, I mean Donald Trump, of course. I mean, I think Catturd might have an account on Truth as well, but I think he just uses it to post fart memes.
If Truth Socials stock value continues to lose value, some believe drastic action might be necessary to further protect the global economy. And they vow to hold President Biden to account for any inaction.
Listen, Im generally opposed to corporate bailouts in principle, USAMAGAFreedomEagleFlag2ANews.com chief finance editor Walter R. Tomlinson, Jr. opined. And if we were just talking about some other industrysuch as automotive or energy production or food or manufacturinghaving the government tip the scales would be a grossly intrusive act upon the free market capitalistic system that I so love and support. But if we lose Truth Social, we lose the very one platform for a single man to log on and express twisted all-caps holiday wishes vowing revenge on his opponents or declaring himself the winner of his own country clubs private golf tournaments. And once that most valuable of income generators is lost, it will be lost forever.
President Biden, because of your gross mishandling of the economy, an invaluable American institution in the form of Truth Social now stands at grave risk, Tomlinson continued. Should it fail, its blood will forever be on not only your own hands, but also on the hands of your son Hunter, and we will seek to impeach and remove the both of you from public office forever for depriving the American citizens of its existence.
DETAILS AT ELEVEN
maxsolomon
(33,555 posts)There you go.
flashman13
(732 posts)dutch777
(3,078 posts)Attilatheblond
(2,421 posts)If a (convicted of financial frauds) billionaire (yeah, says him) can't make an obscene profit selling stock in his (completely failing and never was a success anyway) company, it proves (nothing, it proves nothing) that Joe Biden failed (to let fraudsters and other con artists thrive) our nation. Therefore (here comes the cult delusion) the economy is a shambles (nah, just the parts where TSF and his boosters keep trying the same ol stunts).
forgotmylogin
(7,555 posts)...it's a couple-years-old vanity Twitter clone catering to one problematic person and his hardcore fans and followers.
B: Biden does not control commerce. If you publicly offer a bad product and it does not do well, that's not the fault of the President.
Liberal In Texas
(13,700 posts)April Fool!
The Unmitigated Gall
(3,905 posts)Dont understand how markets work. How capitalism works, for that matter.
Attilatheblond
(2,421 posts)Guess they didn't see all the people who turned into old bones waiting.
The Unmitigated Gall
(3,905 posts)Saint Ronnies day is billionaires piss.
DoBW
(827 posts)F*ck the Oligarchy: tax 'em don't wax 'em
NoRethugFriends
(2,408 posts)getagrip_already
(15,258 posts)That can't be for real?
They are that delusional.
emulatorloo
(44,329 posts)aka April Fools Day.
LastLiberal in PalmSprings
(12,614 posts)It reads like a Borowitz article, which is great, because I needed a laugh today.
Other things Biden is solely responsible for:
The Japanese attack on Pearl Harbor.
The Assassination of Abraham Lincoln, JFK, MLK, RFK.
Faking the moon landing.
The Confederacy losing the War of Northern Aggression.
The Great Depression.
The Dust Bowl.
The Donner Party party.
Hiroshima.
Polio. (the disease, not Salk and Sabin's vaccines)
The Barbie movie.
TJT's hair.
Taylor Swift's conquest of the world.
B.See
(1,544 posts)on how Trump's devotees were buying up this stock, regardless of its true worth, as yet another way of giving their money to their lying, grifting, criminal-in-chef "savior."
I hope they all go broke.
Stuckinthebush
(10,847 posts)The give away:
USAMAGAFreedomEagleFlag2ANews.com
Sadly, this could be real in this day and age!
Brother Buzz
(36,538 posts)Tommy Carcetti
(43,256 posts)Well done!
Brother Buzz
(36,538 posts)usonian
(10,218 posts)DISCARDED SPACE STATION DUE TO CRASH IN THIS AREA IN 5 MINUTES.
Details at 11.
love_katz
(2,607 posts)Either that, or a pretty funny April Fools joke. Sadly, it will probably become the actual schtick from the Wrong Wing floggers of tRump's 24/7 lying and whining blog when the big grifting scheme rightfully crashes and burns.
lindysalsagal
(20,939 posts)TheRickles
(2,136 posts)"Psst. Investing in Trump's Truth Social is a no-brainer. Ignore the Wall St. elite: This is a beautiful, perfect social media company."
https://www.bostonglobe.com/2024/04/01/business/trump-media-truth-social-stock-spac/ (also dated 4/1/24)
Warpy
(111,669 posts)and we know what happens to fools and their money.
I feel sorry for people who put their life savings into TFG's vanity company, one that never came close to turning a profit or even breaking even. Maybe now they'll stop voting for men who promise to end Social Security. They're gonna need it.
Diraven
(583 posts)While the gullible and not very smart MAGA masses will probably lose everything. Hopefully they'll remember who's fault that is on election day.
Warpy
(111,669 posts)It was hyped to the stratosphere, the chum-s bought in, and surprise, surprise, smart money has been dumping it.
They know the sunk cost fallacy will keep the chumps holding onto it.
RamblingRose
(1,044 posts)JohnnyRingo
(18,783 posts)Rule #1: "Trump wins or it's someone else's fault".
CaptainTruth
(6,653 posts)...something they would do.
Good job!
SouthernDem4ever
(6,618 posts)That doesn't usually instill much confidence - which is what you need in a market designed like a big casino. Oh, this post is satire? Could have fooled me. It sounds just like something those morons would say.
NoRethugFriends
(2,408 posts)SouthernDem4ever
(6,618 posts)republianmushroom
(14,396 posts)slightlv
(3,021 posts)but I'm getting to hate it now. The satire is so good, you actually expect it to be out of the words of magats everywhere! ARGH!!!! Another thing Trump touched and it died! The Onion is better than the NY Times for real information anymore, it seems! (LOL)
AltairIV
(426 posts)Yeah it's President Biden's fault. Never mind as per their own required SEC statement released just today this pile of crap has NEVER made a dime.
Random Boomer
(4,174 posts)Think about it.
hibbing
(10,130 posts)AllaN01Bear
(19,506 posts)please correct me ,, i thought i remembered some where t,, asked at and t to help him create truth social. my poor brain.
Lonestarblue
(10,399 posts)Trump is a crook, has always been a crook, and will be a crook until the day he dies. I think it was known before the IPO that the company was bleeding money. Trumps modus operandi has been to get investors to buy into one of his businesses, and then he siphons money out through huge salaries for himself and lavish living expenses. When the business has been sucked dry, he declares bankruptcy and leaves investors holding the bag. He has declared bankruptcy six times so far. Thats why US banks refused to loan money to him for decades.
Truth Social is just another scam. And if he is not re-elected, the stock will be worth pennies, if that. But the company just got several millions dollars from the sale of stock, so Trump can start siphoning that off.
Dirty Socialist
(3,252 posts)ROFLMAO
bucolic_frolic
(43,876 posts)liberalla
(9,332 posts)Random Boomer
(4,174 posts)I didn't catch on until "USAMAGAFreedomEagleFlag2ANews.com chief finance editor", then the penny dropped. Because the GOP is so insane these days, this could have been real.
yliza
(75 posts)Then I remembered what day it is . Very well done!
dobleremolque
(503 posts)dchill
(38,703 posts)...shorted all the stock?
Response to Tommy Carcetti (Original post)
hadEnuf This message was self-deleted by its author.
The Wizard
(12,583 posts)have President Trump Derangement Syndrome (PTDS).
All we can do is point at them and laugh while they worship a lying degenerate reprobate.
Kablooie
(18,672 posts)why the Truth Social stock was way overpriced and a collapse was inevitable.
Matthew Goldstein
OK, so if we go pure fundamentals, its crazy. This company is not a $7 or $8 billion company. It had $3.3 million in revenues for the first nine months of last year. It lost about $49 million.
....
Matthew Goldstein
Its fragile, right. Its not sustainable at this level. But when its happening, its hard for me or anyone to give you a rational reason, and thats why theres this old thing, irrational exuberance. Its not necessarily unusual. Its just that its unusual because you have a very loyal investor base to him personally that is driving a lot of these surges in the stock.
https://www.nytimes.com/2024/03/28/podcasts/the-daily/trump-tech.html
ProudMNDemocrat
(17,163 posts)My reaction....
orthoclad
(2,910 posts)While he distracts us with sneakers and books, our oligarchs use time-tested methods of making money flow.
According to the Congressional Budget Office, the US ruling class held 120 trilion in wealth as of 2019 - before the Great Pandemic Giveaway, where the administration refused to track the money. Trump's debts are couch change to them. They are experts in the flow of money.
I suspect that the fans who paid for the stock are being used to conceal a flow of cash.
Even if it is a prank.
ecstatic
(32,899 posts)GenThePerservering
(1,985 posts)Where else on the internet could you find a social media network so devotedly specialized towards the individual user? asked Breitbart Moneyworks contributor Riley Phillips. And by individual user, I mean Donald Trump, of course. I mean, I think Catturd might have an account on Truth as well, but I think he just uses it to post fart memes.
The "Caviar of social media companies" with their lean n' mean 600,000 users -
Celerity
(44,268 posts)GenThePerservering
(1,985 posts)There are all kinds of funny bits in it that make it pretty obvious.
Brother Buzz
(36,538 posts)The core idea of Poe's Law is that a parody of something extreme can be mistaken for the real thing, and if a real thing sounds extreme enough, it can be mistaken for a parody.
Aussie105
(5,607 posts)Too close to reality.
'Failure of the spaghetti harvest', though . . .
Googe it!
"Back in 1957, the BBCs current-affairs program Panorama decided to play a clever trick on its unsuspecting viewers."
KentuckyWoman
(6,708 posts)Throw in with a liar and then scream because nobody stopped you.
Dumbshits.