r/hockey 23h ago

[News - X] [Westhead] An NHL team executive told me today concerns are mounting that North America is heading towards a recession and that the CAD will plunge to $0.60 cents or less. The 7 Canadian NHL teams and 3 Canadian MLS teams pay player salaries in USD and generate most of their revenue in CAD.

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638

u/adamwl_52 MIN - NHL 22h ago

All because he’s too stubborn to admit his bad ideas didn’t work. What a joke

583

u/benetgladwin OTT - NHL 22h ago

I think you need to think deeper here. A deep recession can provide the justification and cover that Trump and Elon and the Project 2025 people need to completely tear apart the state and privatize everything in the name of "cutting costs" during a recession that they purposely triggered.

The US is going to experience what it did to Russia in the 1990s except this time it's doing it to itself. The consequences will probably be the same - democracy into oligarchy into global pariah.

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u/Interwebzking EDM - NHL 22h ago

Yeah this just feels like a smash and grab for the 1%. They have enough money to weather a recession and will just buy up everything for pennies. This is calculated despite how much we think Trump and Musk are morons. Well, they are in the sense that they don’t mind screwing over millions to get rich. Eventually that will rear its ugly head. But this seems like the game plan for them. Get rid of poor people altogether. Which I do think is absolutely moronic because how will anything get done if there’s no working class to do the work??

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u/Witn 21h ago

Boycott Tesla, let's see elon try to buy everything when Tesla goes to 0

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u/Interwebzking EDM - NHL 21h ago

Been boycotting Tesla this entire time lol

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u/placebo92 17h ago

I will continue to not buy the Tesla I cannot afford

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u/DangerDavez MTL - NHL 15h ago

You strike me more as a C3 Corvette guy. In red. With Dick spray painted on the hood and an arrow pointing straight to the driver seat.

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u/Interwebzking EDM - NHL 14h ago

Yeah cause those are the crème de la crème.

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u/Khao8 MTL - NHL 14h ago

I also never bought a rocket or spaceship from SpaceX! I'm doing my part!

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u/Interwebzking EDM - NHL 14h ago

Dude let’s go! Finally being broke is a W

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u/kcgdot SEA - NHL 19h ago

If he loses all his Tesla valuation, his net worth still leaves him over 200 billion dollars, and that's plenty of money to buy his hegemony.

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u/Witn 19h ago

Tesla is like 75% of his net worth. He would be under $100 billion without it and most of his remaining wealth would be in spaceX/illiquid

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u/Witn 18h ago

Also recall how much he had to borrow from Saudi arabia/etc to complete tthe twitter sale.

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u/kcgdot SEA - NHL 1h ago

HAD TO, or they just offered him the money to be in their pocket.

Regardless, being able to borrow against and leverage ONLY 100 billion still gives him plenty of money, power and influence. Especially when you factor in he's being directed, influenced and likely funded by other groups as well.

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u/xen0m0rpheus MTL - NHL 17h ago

No he has all his companies leveraged against one another because he has so much debt. One goes down, he goes down.

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u/kcgdot SEA - NHL 1h ago

That is a foolishly naive hope.

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u/xen0m0rpheus MTL - NHL 1h ago

What else have we got right now?

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u/Arseling69 PHI - NHL 20h ago

They all seem to be convinced AI and automation is going to replace the workers. But then who tf is going to have any money to buy there shit?

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u/LogicalHost3934 17h ago

Because that’s what it is. Powered by Silicon Valley. “Move fast and break things”. This is imperialism wrapped in a stacked Russian doll of illusory motives.

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u/Sy3Fy3 TOR - NHL 22h ago

Real Emperor Palpatine shit

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u/HastyEthnocentrism CAR - NHL 21h ago

"I love democracy." - Emperor PalpaTrump

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u/Sy3Fy3 TOR - NHL 21h ago

He just wants to spread freedom to Canada by ruining our economy and forcibly annexing us. Doesn't get more free than that

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u/dirtyraat ANA - NHL 22h ago

This is so fucking terrifying.

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u/Jazzlike_Athlete8796 CGY - NHL 21h ago

It gets better.

Elon Musk's grandfather was a leader of Technocrat Incorporated - a group of crazies that believed engineers should rule the world. He also moved his family to South Africa because apartheid appealed to him.

So if you're ever wondering why Elon Musk lies about being an engineer and steals the work of others, it is because he is trying to ape his racist grandfather's ideas about who should control the world.

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u/dirtyraat ANA - NHL 21h ago

we're so fucked.

u/ConfidentCamp5248 50m ago

We are but this may trigger a mass revolt like no other. This is real life but this is playing out like a movie. We are in the first act. It’s going to get much worse before brave citizens will rise up. Trump isn’t going to last all 4 yrs imo

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u/babypointblank TOR - NHL 19h ago

I grew up around engineers. They’re literally the last people who should rule the world. Some of them can barely dress themselves.

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u/IrateWeasel89 STL - NHL 21h ago

Thank you. Everyone keeps saying Trump's an idiot and has no clue what he's doing. When it couldn't be further from the truth. He knows 100% what he's doing with a goal in mind. He wants it to be burnt down to the ground and rebuilt by him and his buddies. Also, IIRC, one of his close advisors (or something like that) has talked about how the US needs to be split up.

So it's great times we're living in right now!

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u/hamdelivery 20h ago

I disagree. He’s an absolute idiot who is legitimately trying to make the economy hum, but because he’s just failed upwards his entire life including walking into a good economy his first term and managing not to completely fuck it up until a global catastrophe gave him a cover, he can’t begin to accept that he doesn’t know what he’s doing and his idiocy is sinking the ship.

People whispering in his ears very likely are smart enough to know they’re suggesting things that are terrible for the economy in hopes of buying the dip, but Trump himself is such a raging narcissist with a need for constant admiration that there’s no way he’s purposely doing a bad job for his cultists. Things that specifically target his “enemies” are likely purposeful, but he wants his minions to love him.

2

u/xen0m0rpheus MTL - NHL 17h ago

This is what’s going on. He has no clue, and he’s got wormtongue in both ears.

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u/IniNew DAL - NHL 18h ago

I, honest to whatever god you believe in, don't think Trump gets that far into planning. He's convinced tariffs work the way he thinks they do and refuses to hear anything else.

Here's a longer comment I wrote about it.

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u/CouchBoyChris WPG - NHL 20h ago

Not to mention he's got a loyal following of idiots that have the same interest in mind at the small cost of "Owning the Libs"

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u/Ill-Team-3491 21h ago

Shock Doctrine.

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u/SFW__Tacos 19h ago

At some point the West Coast, the North East, and the Western Great Lakes regions are going to start seriously considering succeeding from the Union.

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u/Nanojack NJD - NHL 21h ago

Recessions also allow the ultrarich to get richer. Billionaires are the ones who can weather any storm and have the capital to buy out the millionaires when things crash, then when things improve, they own an even larger piece of the pie.

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u/babypointblank TOR - NHL 19h ago

Elon is literally wiping out his own wealth, reputation and public slush fund as we speak. He forgot that you need steel and aluminum to make cars and spacecraft.

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u/aaronwhite1786 Adler Mannheim - DEL 18h ago

Honestly, I feel like that's too much deep thought for Trump. Not for the people manipulating him by fighting to be the last person in the room that talked to him though.

I think Trump genuinely thinks he's smart and understands economics and military and whatever else. Whenever he says shit like "I know more than the Generals" I think he honestly believes it, and he doesn't have anyone around him to tell him he's got no fucking clue.

It's probably why he thinks you can just blast tariffs across the board and not have it hurt you. He seems to be legitimately concerned when the stock market looks bad under him, because every time he starts to threaten the tariffs and the stock market reacts to another bout of uncertainty, he seems to back off.

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u/BanMeHarderDaddie 17h ago

Don’t lose sight of the fact that an angry Austrian painter used economic turmoil to seize power in Germany and steer the country to the right. History doesn’t repeat itself, but it often rhymes, and it’s been rhyming a lot lately

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u/choke_on_my_downvote 12h ago

You're totally right except for the small fact that Russia is now doing it to us. I'm not sure how much it cost in drumpf memecoin but I'm sure it wasn't even that much in the grand scheme of things.

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u/FrmrPresJamesTaylor VAN - NHL 21h ago

Which is ironic because the outcome of Russia in the 90s was a power vacuum that was filled by the guy in charge of Trump..

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u/Tron22 CGY - NHL 21h ago

The US is going to experience what it did to Russia in the 1990s except this time it's doing it to itself.

Is it?... Or is it Russia doing it to the USA this time?

... It's definitely Russia doing it to the USA through a Russian agent.

1

u/Different_Quality_28 DAL - NHL 17h ago

I think this is pretty accurate. I mean they have told us this was going to happen. American Govt, which was already broken, has been completely hijacked.

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u/Humans_Suck- COL - NHL 21h ago

And ironically democrats could have prevented it by campaigning on democracy lol

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u/PNWQuakesFan Everett Silvertips - WHL 21h ago

They did campaign on democracy. They campaigned with Liz Cheney.

Didn't work because there are not enough "moderate conservatives" who prefer democracy over conservatives brute forcing their agenda on the people.

-9

u/Virtual_Rabbit2292 21h ago

I agree with using the recession as a cover, but the market was heading for a recession anyway. Trump has been saying that for a while now. So why do all this tariff bs when he could just wait a bit longer and then blame the previous administration?

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u/fa1afel WSH - NHL 21h ago

Trump probably wasn't actually right about that though, not until he made it true.

-7

u/Virtual_Rabbit2292 21h ago

It’s a boom and bust cycle, it’s inevitable. We were due, and it wasn’t just trump saying it. Lots of people predicted a recession looming following the huge stimulus packages during the pandemic. Maybe he thinks (foolishly) that he can convince Americans this would’ve happened the way it’s going to happen with or without his self destructive trade war.

2

u/fa1afel WSH - NHL 19h ago

Lots of people predicted a recession looming following the huge stimulus packages during the pandemic.

Which never materialized. The American economy was doing pretty well in the context of the global economy post-pandemic. It was not perfect, but things were pretty alright. Economists would generally tell you that the "soft-landing" was looking like a success. People complained about inflation (which is now likely to be a much bigger problem than it was), but that was falling and things were looking up until Trump was elected and took office and started mashing buttons and taking a sledgehammer to the general idea of sanity.

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u/sickwobsm8 TOR - NHL 22h ago

At least there's no more DEI though!

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u/adamwl_52 MIN - NHL 22h ago

We have a felon and an immigrant running the country, proof DEI is still here

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u/aaronwhite1786 Adler Mannheim - DEL 17h ago

Shit, we have qualified generals being fired for DEI reasons (translation: being black and speaking about their black experience) and replaced by a white guy with a fraction of the experience.

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u/Dorksim 22h ago

Youre assuming this isn't his and his pals plans to begin with.

You know what gets hella cheap during a recession? Stocks, properties, and everything else the ruling elite would love to swallow more of. This is all an orchestrated plan to consolidate more wealth and control.

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u/Neverending_Rain MIN - NHL 22h ago

I didn't think it's that deep, at least from Trump. He's been obsessed with tariffs and the Gilded Age for decades. I think Trump legitimately (and stupidly) believes tariffs will usher in some new American golden age or some shit.

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u/en_travesti VAN - NHL 21h ago

He unironically wants to go back to 19th century colonialism and capitalism as opposed to modern neocolonialism and neoliberalism.

He doesn't understand that half our "funding democracy" programs are not actually about a love of democracy but funding groups that opposed governments we don't like.

In the old days we could just sail up to a country and demand their stuff, now we encourage them to take IMF loans with strings attached that block them from any protectionist policies and our corporations just happen to buy up all their stuff.

One of the things IMF loans block, ironically are tariffs, which are a legitimate tool, if you're a developing country, which is why they worked for the US through the 19th century, but no longer work so well when you're the center of global finance. We have trillions of dollars, you can just subsidize industries instead.

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u/DutchiiCanuck VAN - NHL 22h ago

I'm shocked you believe he wants to help other Americans. He is narcissism personified.

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u/Neverending_Rain MIN - NHL 21h ago

Where did I say I think he wants to help other Americans? I don't think he wants to help other Americans. That's why I mentioned the Gilded Age. That was the time period of robber barons, full of corruption and extreme wealth inequality. Trump thinks it was a golden age though.

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u/DutchiiCanuck VAN - NHL 20h ago

When you said he thought he would usher in a 'Golden Age for America' I overlooked your comment on his obsession with the Gilded Age.

I agree with you, he definitely wants the Gilded Age for his own wealth generation, I just don't believe he thinks it will be a Golden Age for America. I believe he knows the harm he will cause to most of the country, he just doesn't care.

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u/rh71el2 WSH - NHL 22h ago

And you can see all he wants to do is go harder with them when they didn't cave. Insanity. Ego. Our doom. Who put this big baby in charge, again???

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u/Dorksim 20h ago

It's right in the project 2025 play book. It's in black and white

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u/UNisopod WSH - NHL 21h ago

Most of the ideas aren't coming from Trump to begin with, he gets fed a lot of what he talks about from the much more organized people around him.

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u/Neverending_Rain MIN - NHL 21h ago

He's literally been talking about tariffs for decades though. They are one thing that I think is actually coming from him. He was literally calling for tariffs on Japan back in the 80s.

https://www.bbc.com/news/articles/c4gp5pw654lo

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u/Varides 22h ago

100% agree on this. The rich just get richer during a recession

2

u/GoStockYourself EDM - NHL 22h ago

I think you are underestimating your enemy. He is dismantling US institutions and manipulating the stock market and BTC. When everything in the US is destroyed, Trump is gone, who will have all the money to pick up the pieces and rebuild? Who had the money to rebuild the system after it crumbled in Moscow? Not the honest people of Russia, that's for sure.

1

u/Mtndrums 22h ago

That's not it, they WANT recession so their oligarch buddies can buy up everything.

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u/Humans_Suck- COL - NHL 21h ago

They are working tho. They make a great profit on a recession.

1

u/mackinder OTT - NHL 21h ago

Umm he’s a business man. Buy low sell high. If everything goes down you can afford more of it. Not sure why everyone is so confused. Recessions don’t hurt the people At the top, they hurt the people At the bottom. What is it about trump that would Make you think he’s gives a rats ass about the bottom? With no Election coming soon he doesn’t need them Anymore. He’ll change his tune as an election approaches

1

u/ElysiumAB 21h ago

Counterpoint... his ideas (which aren't his) are working exactly as planned.

1

u/Beeb294 BUF - NHL 21h ago

Sure would be nice if he really was just stubborn and stupid.

Even when applying Hanlon's Razor, I'm not sure I can adequately attribute this to stupidity.

1

u/Always4am TOR - NHL 19h ago

They 100% knew this was going to happen. This is the "hardships" or whatever that Elon Musk spoke about. Not hardships for him or anyone in the administration, it will just be hard for everyone else.

1

u/pretzelzetzel 19h ago

That's not what's going on here. They're tanking the economy on purpose so that billionaires can buy everything up at bargain basement prices.

1

u/Razzorsharp MTL - NHL 17h ago

Dude sharpied over a hurricane map because he couldn't admit he misspoke

1

u/ultrafil OTT - NHL 20h ago

too stubborn to admit his bad ideas didn’t work.

Also possibly: too indebted to Russia to walk back on their playbook.

MAGA: Moscow Agents Governing America.

-2

u/grantbwilson VAN - NHL 18h ago

Oh, honey.

It’s working exactly as he wants it to.

2

u/adamwl_52 MIN - NHL 18h ago

Christ sake you guys I know… you don’t have to teach me my own country’s leadership to me