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Tommy Carcetti

(43,256 posts)
Mon Apr 1, 2024, 01:54 PM Apr 1

BREAKING NEWS: Republican economists deem national economy "a disaster" after collapse of Truth Social stock

Following the rapid depreciation of the stock price for Truth Social—the social media company founded in 2021 by former President Donald Trump—Republican 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 Social’s 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 Social’s 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 Social’s 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 Social’s 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, I’m 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 industry—such as automotive or energy production or food or manufacturing—having 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 club’s 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

59 replies = new reply since forum marked as read
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BREAKING NEWS: Republican economists deem national economy "a disaster" after collapse of Truth Social stock (Original Post) Tommy Carcetti Apr 1 OP
:?: mdmc Apr 1 #1
What day is it? maxsolomon Apr 1 #9
What planet is this? flashman13 Apr 1 #23
Truly laughable. But, I am sure many knuckle draggers will buy into the thinking. dutch777 Apr 1 #2
Yep, I can hear them now with translation, clarifactation, reality checks inserted: Attilatheblond Apr 1 #4
A: Truth Social is not an "invaluable American institution"... forgotmylogin Apr 1 #38
Ummmm.... Liberal In Texas Apr 1 #40
Seems like some republicans The Unmitigated Gall Apr 1 #3
Too many are STILL waiting for their share of Trickle Down Windfall Attilatheblond Apr 1 #5
Yep. All that's "trickled down" since The Unmitigated Gall Apr 1 #8
all this time it was "trick 'em down" DoBW Apr 1 #17
April 1 NoRethugFriends Apr 1 #26
was this the onion or some other parody site? getagrip_already Apr 1 #6
Today is April 1st emulatorloo Apr 1 #31
Bingo! LastLiberal in PalmSprings Apr 2 #56
John Oliver just did a piece last night B.See Apr 1 #7
Nice satire - where is it from? Stuckinthebush Apr 1 #10
DETAILS AT ELEVEN ia a pigment of Tommy Carcetti's imagination Brother Buzz Apr 1 #16
A perfect slogan! Tommy Carcetti Apr 2 #57
I can't find a direct quote, but I believe George "Kingfish" Stevens deserves the credit Brother Buzz Apr 2 #59
🧅 I smell an onion 🧅 usonian Apr 1 #11
Yup. The scent is unmistakable. love_katz Apr 1 #53
Obama's relieved. "Geez, guys. I'm finally off the hook for everything?" lindysalsagal Apr 1 #12
Here's a more upbeat analysis from the Boston Globe's business analyst. TheRickles Apr 1 #13
Anyone who was counting on TFG to make them rich is a fool Warpy Apr 1 #14
A few insiders will get rich Diraven Apr 1 #39
Yes, it's been a classic punp and dump Warpy Apr 1 #49
April Fools Day joke? RamblingRose Apr 1 #15
Not far from what we'll be hearing JohnnyRingo Apr 1 #18
You had me going for a while there because it sounds exactly like... CaptainTruth Apr 1 #19
I guess they are too stupid to realize more than half the country wants it to tank SouthernDem4ever Apr 1 #20
April 1 NoRethugFriends Apr 1 #27
Every day is April 1 as far as they are concerned. SouthernDem4ever Apr 1 #47
Tis, tis republianmushroom Apr 1 #21
I figure this has to be April Fools stuff.... slightlv Apr 1 #22
Idiots AltairIV Apr 1 #24
Today is April 1st Random Boomer Apr 1 #35
I'll pay good money for whatever drugs these people are on n/t hibbing Apr 1 #25
snork. AllaN01Bear Apr 1 #28
Anyone with half a brain could have seen that coming. Lonestarblue Apr 1 #29
Hilarious! Dirty Socialist Apr 1 #30
Tomlinson a Pathetic Loser!! bucolic_frolic Apr 1 #32
Well done, Tommy! liberalla Apr 1 #33
Great prank, but these days it's hard to tell Random Boomer Apr 1 #34
You had me for a minute yliza Apr 1 #36
Good one! April Fool! n/t dobleremolque Apr 1 #37
What ya wanna bet the Biden Crime Family... dchill Apr 1 #41
This message was self-deleted by its author hadEnuf Apr 1 #42
Sounds like right wing economists The Wizard Apr 1 #43
NY Times podcast, The Daily, last week explained... Kablooie Apr 1 #44
It's Joe's fault that TRUMP TRASH failed? ProudMNDemocrat Apr 1 #45
Money laundering orthoclad Apr 1 #46
satire? ecstatic Apr 1 #48
Come on, folks! This is obvious and funny satire GenThePerservering Apr 1 #50
Great satire, but it is dispiriting that some here lacked the discernment to see it as such. Celerity Apr 1 #51
I know GenThePerservering Apr 1 #55
Poe's Law writ large Brother Buzz Apr 2 #58
This April 1 joke isn't funny. Aussie105 Apr 1 #52
Loser cry babies. KentuckyWoman Apr 1 #54

Attilatheblond

(2,421 posts)
4. Yep, I can hear them now with translation, clarifactation, reality checks inserted:
Mon Apr 1, 2024, 02:14 PM
Apr 1

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)
38. A: Truth Social is not an "invaluable American institution"...
Mon Apr 1, 2024, 04:39 PM
Apr 1

...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.

Attilatheblond

(2,421 posts)
5. Too many are STILL waiting for their share of Trickle Down Windfall
Mon Apr 1, 2024, 02:16 PM
Apr 1

Guess they didn't see all the people who turned into old bones waiting.

56. Bingo!
Tue Apr 2, 2024, 01:46 AM
Apr 2

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

(1,540 posts)
7. John Oliver just did a piece last night
Mon Apr 1, 2024, 02:29 PM
Apr 1

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)
10. Nice satire - where is it from?
Mon Apr 1, 2024, 02:50 PM
Apr 1

The give away:
USAMAGAFreedomEagleFlag2ANews.com

Sadly, this could be real in this day and age!

love_katz

(2,607 posts)
53. Yup. The scent is unmistakable.
Mon Apr 1, 2024, 08:54 PM
Apr 1

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.

TheRickles

(2,133 posts)
13. Here's a more upbeat analysis from the Boston Globe's business analyst.
Mon Apr 1, 2024, 03:28 PM
Apr 1

"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

(111,663 posts)
14. Anyone who was counting on TFG to make them rich is a fool
Mon Apr 1, 2024, 03:31 PM
Apr 1

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

(582 posts)
39. A few insiders will get rich
Mon Apr 1, 2024, 04:47 PM
Apr 1

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

(111,663 posts)
49. Yes, it's been a classic punp and dump
Mon Apr 1, 2024, 08:36 PM
Apr 1

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.

SouthernDem4ever

(6,618 posts)
20. I guess they are too stupid to realize more than half the country wants it to tank
Mon Apr 1, 2024, 03:50 PM
Apr 1

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.

slightlv

(3,020 posts)
22. I figure this has to be April Fools stuff....
Mon Apr 1, 2024, 04:01 PM
Apr 1

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)
24. Idiots
Mon Apr 1, 2024, 04:05 PM
Apr 1

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.

AllaN01Bear

(19,455 posts)
28. snork.
Mon Apr 1, 2024, 04:13 PM
Apr 1

please correct me ,, i thought i remembered some where t,, asked at and t to help him create truth social. my poor brain.

Lonestarblue

(10,397 posts)
29. Anyone with half a brain could have seen that coming.
Mon Apr 1, 2024, 04:14 PM
Apr 1

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. Trump’s 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. That’s 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.

Random Boomer

(4,174 posts)
34. Great prank, but these days it's hard to tell
Mon Apr 1, 2024, 04:26 PM
Apr 1

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.

Response to Tommy Carcetti (Original post)

The Wizard

(12,580 posts)
43. Sounds like right wing economists
Mon Apr 1, 2024, 05:01 PM
Apr 1

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)
44. NY Times podcast, The Daily, last week explained...
Mon Apr 1, 2024, 05:02 PM
Apr 1

why the Truth Social stock was way overpriced and a collapse was inevitable.

Matthew Goldstein
OK, so if we go pure fundamentals, it’s 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
It’s fragile, right. It’s not sustainable at this level. But when it’s happening, it’s hard for me or anyone to give you a rational reason, and that’s why there’s this old thing, irrational exuberance. It’s not necessarily unusual. It’s just that it’s 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


orthoclad

(2,910 posts)
46. Money laundering
Mon Apr 1, 2024, 06:29 PM
Apr 1

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.

GenThePerservering

(1,983 posts)
50. Come on, folks! This is obvious and funny satire
Mon Apr 1, 2024, 08:41 PM
Apr 1

“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 -

Brother Buzz

(36,537 posts)
58. Poe's Law writ large
Tue Apr 2, 2024, 02:20 PM
Apr 2

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

(5,601 posts)
52. This April 1 joke isn't funny.
Mon Apr 1, 2024, 08:50 PM
Apr 1

Too close to reality.

'Failure of the spaghetti harvest', though . . .

Googe it!
"Back in 1957, the BBC’s current-affairs program Panorama decided to play a clever trick on its unsuspecting viewers."

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