|
Harry Potter on Ice posted:Pick some big name stocks you recognize and then look at the 1 year, 5 year and max charts its really fun. Cheat and look at one getting gutted like GE. Look at ford, stocks people have said forever to just park your money in. We're in the pile of poo poo now. Howard Stern this week was talking about how growing up whenever his dad had any extra money he would just purchase shares in Disney, and eventually he made a great deal of money simply from that. It's amazing how much a fantasy the economy the 1970s was in comparison to today.
|
#
?
Nov 18, 2018 00:29
|
|
|
|
| # ? Jun 3, 2024 16:20 |
|
|
Rand alPaul posted:It's amazing how much a fantasy the economy the 1XX0s was in comparison to today.
|
|
#
?
Nov 18, 2018 00:36
|
|
|
Is this the real life? Is this just fantasy? Caught in a recession no escape from the economy.
|
|
#
?
Nov 18, 2018 00:41
|
|
|
Ignore the dolts Look up to Rick Wolff and seeeeeeee He's an econ grad, he needs no sympathy
|
|
#
?
Nov 18, 2018 00:47
|
|
|
Squalid posted:On the other hand Diocletian could have really used the help of a modern economist to explain why the value of his currency kept plummeting and why everybody ignored his edict on prices. And the Spanish could have done with a few hints as to why bringing huge amounts of gold from the new world somehow made them all poorer. Plus a few dozen other examples from history. People go too heavy on the "economics is bullshit cheerleading" argument. Economics as it is taught in American universities is bullshit cheerleading for U.S. companies and U.S. foreign policy for the sake of servicing the interests of U.S. capital. There's plenty of use for economics outside the narrow window neoliberal ideology allows, and telling yourself it's all bullshit is only half the story. Nevertheless, I am sure this will somehow be twisted into me being a supporter of Henry Kissinger or some bullshit. Can't loving wait for the hot takes, I tell you.
|
|
#
?
Nov 18, 2018 00:47
|
|
|
Often Abbreviated posted:telling yourself it's all bullshit is only half the story. A fair point, but that's still 5000% more of the story than the high priests of FIRE acknowledge.
|
|
#
?
Nov 18, 2018 00:50
|
|
|
https://www.youtube.com/watch?v=bbS0Djfms1U
|
|
#
?
Nov 18, 2018 01:18
|
|
|
Often Abbreviated posted:And the Spanish could have done with a few hints as to why bringing huge amounts of gold from the new world somehow made them all poorer. Plus a few dozen other examples from history. some schools of economics try to look at the world in good faith and try to come up with theories that explain why the world is the way it is, how it could work, and how you could make predictions the neoclassical school has a conclusion and works backwards from there to justify the conclusion when people say economics is bullshit I think they mostly mean the neoclassical models that are predominant today
|
|
#
?
Nov 18, 2018 01:20
|
|
|
comedyblissoption posted:when people say economics is bullshit I think they mostly mean the neoclassical models that are predominant today
|
|
#
?
Nov 18, 2018 01:24
|
|
|
Animal-Mother posted:I want the massive and devastating collapse to happen quickly and soon so we can just be done with it already, but it is my understanding they have it set up so the stock market closes automatically if a certain percentage is lost in one day, right? But that this doesn't stop the economy from sliding downwards day after day, correct? So there won't be a Black Monday or whatever and instead things will just slowly ooze toward a pile of poo poo and nobody will have an instance we can point to and say "This is where it went wrong" and everybody will keep popping happy pills and pretending things are fine, yes? 2008 misled a lot of people I think, what usually happens is the stock market collapses during/after the economy is already struggling, not that the economy implodes as a result of/after the stock market does so you want to watch for real-world indicators to trigger -- such as a cascading default on various debt bubbles, trade wars jacking prices through the roof, Brexit, etc., not necessarily the stock market plunging 2008 happened the way it did because debt derivatives kept getting repackaged and sold to different banks until it was tangled up in a giant mess at the heart of finance itself and when the piper came to collect it was the unraveling thread that undid the entire sweater
|
|
#
?
Nov 18, 2018 01:39
|
|
|
comedyblissoption posted:i think the distinction here is that there are different schools of economics neoclassical economics fucks up even basic economics like supply and demand. like the first few weeks of any econ course in America are wasted on reading unscientific supply and demand curves instead of investigating the nature of money, production, ownership, and labor. neoclassical econ skips over all the base level stuff because it can't make a good faith explanation for it that isn't marxian. taking econ in high school, I felt like we started the story like a third of the way in and that the crucial bits were all missing marx's take is so powerful the best people could come up with is to propose a ludicrous homo economicus that flies in the face of everything we know about history, psychology, and sociology, hide behind fancy math, say that his economics will lead to bad politics, or misconstrue the ltv KaptainKrunk fucked around with this message at 01:48 on Nov 18, 2018 |
|
#
?
Nov 18, 2018 01:43
|
|
|
comedyblissoption posted:i think the distinction here is that there are different schools of economics pretty much although the other schools do not get much in the way of academic support right now it sort of reminds me of how organismal level biology was super out of vogue for a while in lieu of microbiology only. and now i guess population level stuff is getting popular again or whatever but at the level of the organism still under-studied which is lol because you'd think like "the whole animal" would be something yud give a poo poo about if you studied them (animals)
|
|
#
?
Nov 18, 2018 02:13
|
|
|
KaptainKrunk posted:like the first few weeks of any econ course in America are wasted on reading unscientific supply and demand curves curves  my intro to economics spent the first weeks on y=mx+b
|
|
#
?
Nov 18, 2018 02:18
|
|
|
hobbesmaster posted:my intro to economics spent the first weeks on y=mx+b
|
|
#
?
Nov 18, 2018 02:26
|
|
|
in engineering school you could skip the requirement of taking a handful of grad-level advanced courses if you took a bunch of business courses instead a friend of mine said that in the finance class the professor acknowledged that it would be too unreasonable to expect people to remember all the formulas and thats why there was a table of the formulas of how to compute the roots of every kind of polynomial
|
|
#
?
Nov 18, 2018 02:31
|
|
|
Tubgoat posted:Sweet loving Christ. O.O What year was this? 2005. can’t scare off the business students I guess
|
|
#
?
Nov 18, 2018 02:35
|
|
|
I love how J.C. Penney's stock price crashed to $1.04 after announcing another lovely quarter, then through FREE MARKET MAGIC somehow shot up to $1.42 and ended positive for the day.
|
|
#
?
Nov 18, 2018 02:35
|
|
|
Horseshoe theory posted:I love how J.C. Penney's stock price crashed to $1.04 after announcing another lovely quarter, then through FREE MARKET MAGIC somehow shot up to $1.42 and ended positive for the day. thats called fundamentals
|
|
#
?
Nov 18, 2018 02:36
|
|
|
which, by the way, are strong
|
|
#
?
Nov 18, 2018 02:36
|
|
|
the fundamentals are real, and strong, and my friend
|
|
#
?
Nov 18, 2018 02:55
|
|
|
Corporations are people, my friend, and the answer is that JC Penney has been getting jacked down at the gym is now swole.
|
|
#
?
Nov 18, 2018 03:14
|
|
|
They did the exact same thing in Canada when they went out of business. They said they HAD to pay the executives $20m to retain talent to turn the company around even though the pensions were criminally underfunded, then a month later said they were liquidating everything and shutting down. They said they would take back some of the bonuses from each executive for an emergency fund for all the employees who suddenly lost their severances, but then made it voluntary and none of the execs gave anything back. https://www.cbc.ca/news/business/sears-canada-employee-hardship-fund-1.4321361 Then they kept paying the executives a bunch more money this year to fight the employees fighting for some sort of severance. https://www.ctvnews.ca/business/sears-board-members-gain-600k-as-former-employees-fight-for-severance-pay-1.4038987 In conclusion, Guillotine now. Heads on pikes. They're going to keep racking up millions while ex-employees starve.
|
|
#
?
Nov 18, 2018 03:30
|
|
|
https://twitter.com/business/status/1063931818641100811
|
|
#
?
Nov 18, 2018 03:34
|
|
|
if corporations are people they should be guillotined too
|
|
#
?
Nov 18, 2018 03:35
|
|
|
'Farmers harvest fields. Aristocrats harvest the public.' I want a snappy talking point along those lines edit: That is the culture, that line just doesn't sound right
|
|
#
?
Nov 18, 2018 03:37
|
|
|
Poniard posted:if corporations are people they should be guillotined too Should be a big Mesoamerican ballgame with everyone getting executed with Monokuma providing commentary during the festivities.
|
|
#
?
Nov 18, 2018 03:45
|
|
|
E: wrong thred
|
|
#
?
Nov 18, 2018 03:47
|
|
|
they call it JC Penny because the stock price is only worth pennies
|
|
#
?
Nov 18, 2018 04:16
|
|
|
jc on my peeny and some stocks-a on my balls
|
|
#
?
Nov 18, 2018 04:18
|
|
|
hobbesmaster posted:curves loving lol
|
|
#
?
Nov 18, 2018 04:28
|
|
|
hobbesmaster posted:curves Jesus Christ 
|
|
#
?
Nov 18, 2018 04:29
|
|
|
hobbesmaster posted:curves why? that's... that's the linear equation for a straight line... what can you model in economics with that? that's... linear regression isn't for that.
|
|
#
?
Nov 18, 2018 04:31
|
|
|
thinking bout thos widgets
|
|
#
?
Nov 18, 2018 04:44
|
|
|
KiteAuraan posted:why? that's... that's the linear equation for a straight line... what can you model in economics with that? that's... linear regression isn't for that. american university economics departments, in a bid to make things easier for business majors who form the bulk of students enrolled in the classes, have been known to excise any math higher than secondary school algebra
|
|
#
?
Nov 18, 2018 05:07
|
|
|
Cinnamon Bear posted:american university economics departments, in a bid to make things easier for business majors who form the bulk of students enrolled in the classes, have been known to excise any math higher than secondary school algebra The capstone for business majors should be 
|
|
#
?
Nov 18, 2018 05:09
|
|
|
Cinnamon Bear posted:american university economics departments, in a bid to make things easier for business majors who form the bulk of students enrolled in the classes, have been known to excise any math higher than secondary school algebra I made money during my undergrad years by tutoring business majors in basic math and economics. But within a few weeks of doing it I realized it was easier and more lucrative to just write the papers for them then teach them anything.
|
|
#
?
Nov 18, 2018 05:16
|
|
|
ughhhh posted:I made money during my undergrad years by tutoring business majors in basic math and economics. But within a few weeks of doing it I realized it was easier and more lucrative to just write the papers for them then teach them anything. So you're the one that caused the great recession.
|
|
#
?
Nov 18, 2018 05:17
|
|
|
I now have a masters and am broke and they make more money than I could ever dream of. So I guess they were better off?
|
|
#
?
Nov 18, 2018 05:19
|
|
|
ughhhh posted:I made money during my undergrad years by tutoring business majors in basic math and economics. But within a few weeks of doing it I realized it was easier and more lucrative to just write the papers for them then teach them anything. I had to have a very in-depth conversation with my boss to explain that by multiplying 91% by 109% you don’t get back to 100%. It was a low moment for everyone involved. edit: clarification. 19 o'clock fucked around with this message at 05:24 on Nov 18, 2018 |
|
#
?
Nov 18, 2018 05:22
|
|
|
|
| # ? Jun 3, 2024 16:20 |
|
|
the joke is that a lot of top schools are horrific at actually teaching and are basically there for either research while students are taught by legions of underpaid grad students, or for rubber stamping nepotism by saying "see, he's qualified" and sustaining existing power structures. it's not restricted to the US though. I left the US and did graduate school and research in the UK, and there you end up with a lot of wealthy expats or children of corrupt officials from around the world, who offer more than your teaching stipend to ensure they get top marks
|
|
#
?
Nov 18, 2018 05:24
|
|