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Bushido Brown posted:I still can't understand how a state bankruptcy would work. States can already control their own budgets. Really it seems like it would be an attempt to discharge debts. But that would run headlong into a contracts clause violation. you can’t this naive
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Apr 25, 2020 05:15
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No bid COVID posted:Lean supply chains are a form of leverage. Not in the financial system per se but in the real economy. We know what leverage does when you have a crisis. Yes, it makes prices go down.
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Apr 25, 2020 05:15
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pst: the magna carta was basically Rich Person Protection, the Document (the manga carta, meanwhile, states that the english translations of japanese comics must still be printed right-to-left)
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Apr 25, 2020 05:18
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animist posted:did the rich get hosed over more in past depressions? like at what point did the govt decide that they had to be protected at all costs Our government explicitly exists to protect the property of the wealthy.
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Apr 25, 2020 05:19
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animist posted:did the rich get hosed over more in past depressions? like at what point did the govt decide that they had to be protected at all costs
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Apr 25, 2020 05:31
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Bushido Brown posted:I still can't understand how a state bankruptcy would work. States can already control their own budgets. Really it seems like it would be an attempt to discharge debts. But that would run headlong into a contracts clause violation.
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Apr 25, 2020 05:33
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it was the s&l crisis that led finance to take over the federal government's financial regulatory/policy agencies. this was mostly with an eye toward never being prosecuted for financial misdeeds, but had the "happy" side effect of biasing all government discourse about finance and the economy toward the worship of Number
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Apr 25, 2020 05:37
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animist posted:did the rich get hosed over more in past depressions? like at what point did the govt decide that they had to be protected at all costs in the GD, the astors, morgans, rockerfellers, mellons, etc were very much attached to their head and very much attached to ungodly vast sums of wealth by the end of. although many rich did lose, but it'd be like bezos going from 60 billion to 4 billion. yeah techniaclly losing 54 billion is alot on paper but it's still 4 billion buckaroos.
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Apr 25, 2020 06:00
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Gazpacho posted:under the contracts clause a state can't grant debt relief to itself, but it can seek relief through the federal government just get into massive mutual debts with a neighboring state and forgive both of them, generating money out of thin air, bing bang boom so simple
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Apr 25, 2020 06:07
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god it is loving mindblowing how stupid this whole thing is. Like we built this this way.
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Apr 25, 2020 06:19
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https://asia.nikkei.com/Economy/Japan-to-subsidize-100-of-salaries-at-small-companiesquote:Japan is working on a subsidy to ensure that temporarily idled small-business employees receive 100% of their wages during the current state of emergency, Nikkei has learned. Setting aside that this hasn't actually happened yet and would have to survive being actually passed by the government (legislature?) ... The underlying assumption has always been that the reason why governments are so stingy with corona-welfare is that any kind of decent program to do any of that would necessarily have to be of such a scale and such a scope that once you do it, it would be just about impossible to remove once people get used to it, similar to arguments about Social Security and M4A and why those things NEED to be universal programs. So you have governments not doing any welfare at all and hoping to ride-out the pandemic ASAP, or maybe doing a one-time dole-out that's rather small sized with no commitment to a recurring program. And in the extreme case, you have governments just pushing to "re-open the economy" altogether, again in the hopes that if people are allowed to go back to work, then they will go back to work, and therefore will keep earning money, and therefore there won't be any need to rustle any hierarchical jimmies. (counter-intuitively, a strong response to coronavirus would have been best: if you can snip the problem in the bud like SK or Taiwan did, no lockdown necessary, therefore no economic shutdown, therefore no need to provided subsistence to people on lockdown) So if Japan does end up implementing this program as written (10 million employees is a little less than 10% of their population, or over 12% of their adult workforce), what are the chances that this does end up sticking and isn't withdrawn for being too popular?
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Apr 25, 2020 06:35
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Epic High Five posted:I'm aware lol, the fact that his kid apparently took "these two extra-dimensional beings are totally authorial self-inserts for Frank and his wife" to mean "actually these two are evil robots" is lmfao what? there are extra-dimensional beings/robot space lords in dune? the frank herbert dune? I'm aware of all the weird gender and sex stuff he had but that is new to me.
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Apr 25, 2020 06:38
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Lady Militant posted:the average salary you need to pay rent to live near the university i go to is 25 dollars an hour and the homeless crisis keeps getting worse. in response the university is building.....a hotel for the rich parents kids to stay at during homecoming lol this owns my school is doing the same thing, I'm working (past tense now I guess) for like $9 an hour at the arena and they're spending mountains of cash on a new campus hotel
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Apr 25, 2020 06:54
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Crazycryodude posted:lol this owns my school is doing the same thing, I'm working for like $9 an hour at the arena and they're spending mountains of cash on a new campus hotel we go to the same school
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Apr 25, 2020 06:54
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Pick posted:The Fed actually did sign in legislation to buy and redistribute food from farms and send it to food banks, they reported on that in the Washington Post today I must be critically behind the news, sorry about your open financial tyranny where the Federal Reserve has taken on parliamentary functions, is in charge of the popular relief strategy and decided to go with food banks rather than helicopter money.
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Apr 25, 2020 06:57
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Lady Militant posted:we go to the same school Oh what's up when the apocalypse is over we should have an awkward goon meetup and just drink a lot without talking to each other
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Apr 25, 2020 07:00
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i just got a very angry private message and apparently people in this thread dont like money and markets and want me to leave??? i thought this thread was for talking about how much the market owns. i love money. i wish i understood option strategies better. and you guys have been sarcastic the entire time? wow, i feel dumb
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Apr 25, 2020 07:04
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i am unbelievably offended they didnt send it to me instead
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Apr 25, 2020 07:06
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Crazycryodude posted:Oh what's up when the apocalypse is over we should have an awkward goon meetup and just drink a lot without talking to each other it's going to be so loving wild when hurricane season really gets going
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Apr 25, 2020 07:09
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cumshitter posted:i just got a very angry private message and apparently people in this thread dont like money and markets and want me to leave??? i thought this thread was for talking about how much the market owns. i love money. i wish i understood option strategies better. and you guys have been sarcastic the entire time? wow, i feel dumb cumshitter ur alright we should prob talk more about like the impending economic doomsday tho
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Apr 25, 2020 07:10
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I'm glad I didn't get an angry PM, look what it does to people
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Apr 25, 2020 07:11
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cumshitter posted:i just got a very angry private message and apparently people in this thread dont like money and markets and want me to leave??? i thought this thread was for talking about how much the market owns. i love money. i wish i understood option strategies better. and you guys have been sarcastic the entire time? wow, i feel dumb
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Apr 25, 2020 07:12
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anime was right posted:cumshitter ur alright one time the trump thread was jokingly turning against me and saying my back should be against the wall and i said, "please, dont kill me before i give you the password and login to my company's financial management software so you can find more rich people" No bid COVID posted:Buy options when ivol is higher than realized, sell options when ivol is lower than realized. Very simple. Look at wallstreetbets for more info i actually do understand it in a general sense as both a gamble and a hedge against losses but the different strategies and graph shapes employed are just something im not going to have a real grasp on unless i actually did it for a living
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Apr 25, 2020 07:13
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cumshitter posted:i just got a very angry private message and apparently people in this thread dont like money and markets and want me to leave??? i thought this thread was for talking about how much the market owns. i love money. i wish i understood option strategies better. and you guys have been sarcastic the entire time? wow, i feel dumb They are just jealous of number
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Apr 25, 2020 07:13
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number only go up point me at those nasty little starcraft lurkers trying to op my favorite capital under management sink, and i will vore them until they become mind controlled and rolled over into my roth 404b number fund
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Apr 25, 2020 07:13
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All I did for the past decade was investigate rich people, poor people literally don't have enough money to launder in any reportable aggregate lol
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Apr 25, 2020 07:15
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what about the poor people structuring their $100,000 outflows?????
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Apr 25, 2020 07:20
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i used to work in predatory lending until i drank an entire bottle of vodka one night because i hated my job and the company and didnt think it should even exist and just decided not to show up any more when i got my current job i kept pissing off the bond guys by referring to things in lending terms. "so YTM is like APR and the total interest paid assuming no payments toward principal but it gets paid to you?" "It's not a loan, cumshitter." "uh, yeah, it totally is. we sold all the loans we originated to guys like you and then they sold them to other people"
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Apr 25, 2020 07:24
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So how quickly is that 460 billion or whatever added into the small business fund going go run dry.
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Apr 25, 2020 07:24
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Telsa Cola posted:So how quickly is that 460 billion or whatever added into the small business fund going go run dry. yes
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Apr 25, 2020 07:24
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Telsa Cola posted:So how quickly is that 460 billion or whatever added into the small business fund going go run dry. each boeing plane and jp morgan bank is a small business
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Apr 25, 2020 07:25
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Jesus that is some fast response time.
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Apr 25, 2020 07:25
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Telsa Cola posted:Jesus that is some fast response time. as fast as the money is gone  also friday night motherfuckers, time to  
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Apr 25, 2020 07:25
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Telsa Cola posted:So how quickly is that 460 billion or whatever added into the small business fund going go run dry. faster than you can say 1099 independent contractor
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Apr 25, 2020 07:26
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FAUXTON posted:I don't think it's like most prior depressions, but american elites built a social culture around blurring the difference between saying and doing, and now instead of organizing food distribution from farms that are literally leaving mountains of food on the side of the road they're sharing how pissed they are at the farmer for not also having it hauled into town. Sure maybe at some point the sink of having robots pump your own angry farts back at you and calling it radicalization will fill up and folks will go back into the streets and take what's due them, but put me on the side of expecting everyone to be shocked that this wasn't the moment.
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Apr 25, 2020 07:32
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The idea is to force states to declare bankruptcy and therefore gut their pensions/services...which in turn is going to either prolong the current depression or create a double-dip crisis. Of course, the outcome of this is going to be, it is only going to make the US weaker in the future.
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Apr 25, 2020 07:34
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cumshitter posted:i used to work in predatory lending until i drank an entire bottle of vodka one night because i hated my job and the company and didnt think it should even exist and just decided not to show up any more your posts are good i just maintain an anti-401k stance because i feel stocks are a form of theft from the labor that produces those profits and any system that encourages people to buy them is encouraging them to be complicit in the theft of their wages and of their workers. you getting a tiny slice of what is stolen from you in the form of tax-advantaged stock holdings doesn't make up for what is taken
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Apr 25, 2020 07:34
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i have a friend considering registering an llc, paying himself one month of salary to get a paper record, then filing for the SBA cash
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Apr 25, 2020 07:50
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i say swears online posted:i have a friend considering registering an llc, paying himself one month of salary to get a paper record, then filing for the SBA cash iirc business had to be started or filed some paperwork or some crap before a certain date to qualify for money faucet stuff
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Apr 25, 2020 07:51
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I think it’s fine to talk about savings or car or house having in the abstract, but when you start to talk abt or ask advice re the one you have or that you’re getting one you’re telling on yourself. Retain plausible deniability as a car/house/savings haver basically
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Apr 25, 2020 07:51
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