this post was submitted on 24 Jan 2025
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Any econ majors able to give me their best tldr of what this means or will result in if anything? I can't wrap my head around how money and debt works sry
Hard to say right now. The article suggests that the banks are just trying to free up cash on their balance sheets. However, this could instead be an indication that they are looking for a "bigger fool" to take the losses. I personally think the bottom won't fall out of Xitter until the tesla share price crashes. Elon bought some time with credulous fools with the ridiculous cybercab demo, but that can't last forever. At that point I think the only question is whether SpaceX gets pulled down with all the rest of the musk ventures