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Sep 24, 2020 01:12
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quote:From 1921 to 1929, the Dow Jones rocketed from 60 to 400, creating many new millionaires. Very soon, stock trading became America’s favorite pastime as investors jockeyed to make a quick killing. Investors mortgaged their homes and foolishly invested their life savings into hot stocks such as Ford and RCA. To the average investor, stocks were practically a sure thing. Few people actually studied the finances and underlying businesses of the companies that they invested in. Thousands of fraudulent companies were formed to hoodwink unsavvy investors. Most investors never even thought a crash was possible – in their minds, the stock market “always went up.” just a cool paragraph i found, thought it looked neat, no bigger significance there
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Sep 24, 2020 01:16
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Declan MacManus posted:you'll be getting a personal digital savings account with the fed that you can either withdraw your money from they made it sound like a govt backed cryptocurrency so I assume it’ll be like:
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Sep 24, 2020 01:17
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I think what is amazing about that time period was there wasn’t anything even remotely like the ‘33 or ‘34 act people were throwing money into a furnace without even the rudimentary protection of the poo poo we have now
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Sep 24, 2020 01:18
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Dustcat posted:what if i already priced in the dip in my previous purchases The history of all hitherto existing number has been in the dip
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Sep 24, 2020 01:21
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Declan MacManus posted:just a cool paragraph i found, thought it looked neat, no bigger significance there This is the correct way to do it. Nerds missing out on all the returns
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Sep 24, 2020 01:23
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19 o'clock posted:he did back in April bing bong yes I’ve had FIRST money but what about SECOND money?
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Sep 24, 2020 01:24
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Red Baron posted:yes I’ve had FIRST money but what about SECOND money? it helps to have PARENTS’ money. that’s the real way to survive this thing.
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Sep 24, 2020 01:35
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Declan MacManus posted:
log scale doing a lot of work here 
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Sep 24, 2020 01:35
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number coming back home to 26k, where it belongs
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Sep 24, 2020 01:36
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so you will be able to give your fedcoin to your landlord and then your landlord will exchange fedcoin for money?
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Sep 24, 2020 01:37
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Red Baron posted:yes I’ve had FIRST money but what about SECOND money? there’s a joke to be made here about angering a white wizard.
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Sep 24, 2020 01:42
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Cold on a Cob posted:they made it sound like a govt backed cryptocurrency
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Sep 24, 2020 01:48
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someone quote this with the thunk supernova, thx
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Sep 24, 2020 01:49
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Gazpacho posted:someone quote this with the thunk supernova, thx lmao this cracked my ping real good Like you can tell he's gonna argue for culling of the unwashed masses but he can't literally say that out loud
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Sep 24, 2020 02:09
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Gazpacho posted:someone quote this with the thunk supernova, thx 
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Sep 24, 2020 02:13
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Gazpacho posted:no they didn't you’re right, digital currency not cryptocurrency, but they seem to be making sure it’s not usd if I’m not mistaken? definitely post what it is if I’m still wrong pls
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Sep 24, 2020 02:14
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Not a Children posted:lmao this cracked my ping real good Like the actual gist of the article is that wages need to go up, significantly, and the government should do economic/99% stimulus by investing in big insane infrastructure jobs project to fix all our bridges and roads, etc instead of a free money hose for the rich. Of course he somehow manages to completely and totally omit that worker wages are low/depressed because the largest employers are shareholder profit driven entities who have no incentive to pay their workers more money and that any giant infrastructure project like that will be completely grifted to poo poo because it will be done by profit driven companies and not a public works govt entity.
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Sep 24, 2020 02:19
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public works like that have to pay prevailing union wages most of the time you are looking at starting at 25 and moving up quick
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Sep 24, 2020 02:20
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euphronius posted:public works like that have to pay prevailing union wages most of the time it's good paying work.
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Sep 24, 2020 02:29
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Xaris posted:correct i do a lot of california public works jobs and prevailing wage is mandatory on all PW jobs. for basic laboror's minimum wage is $37.5/hr with 50% OT and 2X on sunday. equipment operators minimum wage is $65/hr that’s if fed money is in the job tho I think many states have similar laws for state only projects which are like ... very small
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Sep 24, 2020 02:31
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Hello I now in training to lay internet cable so people can continue their circuses on their cat video machines. GIVE ME THE PUBLIC WORKS, FIBER EVERYTHING
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Sep 24, 2020 02:32
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"digital dollars" isn't saying much except that the federal reserve banks would be obligors on the accounts, the same way they are for currency in circulation also it makes the bill snazzy, just like calling an aircraft catapult digital overall it's a pretty rough bill that doesn't provide a way for banks to cover expenses, or consider edge cases like companies that are Fed member banks but don't offer consumer accounts Gazpacho fucked around with this message at 02:40 on Sep 24, 2020 |
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Sep 24, 2020 02:38
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it's infuriating because the correct answer is clearly print money and build poo poo. Like, you can give all the projects to massive corporations and the 1% will extract a disproportionate amount but it would still be good for communities in addition to filling the unemployment and poverty gap but they wont do it. I don't even think "the one percent" are in control. It's gotta be a tiny fraction of them; complete lunatics who would rather NOT get richer if it means helping out poor people. Like I get CEOs are psychopaths but I'd guess 90% of fortune 500 company execs, if individually polled, would woop and cheer for a 20 trillion dollar infrastructure bill. It's like some herd mentally poo poo our something I literally can't figure it out
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Sep 24, 2020 02:43
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though really I think it's bankers and related industries. Sure they would make money on handing out loans and moving money around and pumping stocks but helicopter money means higher velocity of money and I guess banks wouldn't directly control as much of the currency float by percentage???
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Sep 24, 2020 02:46
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oxsnard posted:it's infuriating because the correct answer is clearly print money and build poo poo. Like, you can give all the projects to massive corporations and the 1% will extract a disproportionate amount but it would still be good for communities in addition to filling the unemployment and poverty gap lol they constantly complain when china does this because it is going to magically backfire in their face and uhhh all the infrastructure will go away I guess and won't be useful or productive...
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Sep 24, 2020 02:47
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i'd rather build my country's gdp up the honest way, by overcharging them for basic human rights
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Sep 24, 2020 02:49
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KaptainKrunk posted:lol they constantly complain when china does this because it is going to magically backfire in their face and uhhh all the infrastructure will go away I guess and won't be useful or productive... I mean, tbf, china is building a lot of completely pointless infrastructure, like those giant ghost cities
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Sep 24, 2020 02:52
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They complain about it because they don't want people here getting any ideas.
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Sep 24, 2020 02:53
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It’s because Marx and Kierkegaard were right and you can’t recreate the same ‘juice’ (inexact term but I am very tired sorry) in an economy once the material conditions and relations of production have changed significantly.
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Sep 24, 2020 02:54
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Wutang-Yutani CORP posted:these are cool because the artist seems to have a unique range in style and actual artistic skill while modern political cartoons are total hack garbage. By varying their style they are missing out on crucial branding. Where would Ben Garrison be without his trademark style? Or Branco? Amateur hour.
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Sep 24, 2020 02:55
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oxsnard posted:I mean, tbf, china is building a lot of completely pointless infrastructure, like those giant ghost cities which ghost cities? most of them are occupied now
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Sep 24, 2020 02:58
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Penisaurus Sex posted:It’s because Marx and Kierkegaard were right and you can’t recreate the same ‘juice’ (inexact term but I am very tired sorry) in an economy once the material conditions and relations of production have changed significantly. a specter is haunting europe - and the juice is loose
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Sep 24, 2020 02:59
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oxsnard posted:it's infuriating because the correct answer is clearly print money and build poo poo. Like, you can give all the projects to massive corporations and the 1% will extract a disproportionate amount but it would still be good for communities in addition to filling the unemployment and poverty gap Because they want to retain control over society at any cost
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Sep 24, 2020 03:00
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Penisaurus Sex posted:It’s because Marx and Kierkegaard were right and you can’t recreate the same ‘juice’ (inexact term but I am very tired sorry) in an economy once the material conditions and relations of production have changed significantly. I didn't realize Kierkegaard wrote on the economy. I thought he was all existentialism and Jesus.
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Sep 24, 2020 03:01
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oxsnard posted:though really I think it's bankers and related industries. Sure they would make money on handing out loans and moving money around and pumping stocks but helicopter money means higher velocity of money and I guess banks wouldn't directly control as much of the currency float by percentage??? the petit bourgeoisie are in charge. they put their king in as president and he surrounded himself with con artists and car dealers. sure the 1% and finance will get rich as hell off their idiotic spending spree, but they will be horrified as hell at their cocktail parties where they will quietly tell hillary they wish she had won.
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Sep 24, 2020 03:03
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oxsnard posted:but they wont do it. I don't even think "the one percent" are in control. It's gotta be a tiny fraction of them; complete lunatics who would rather NOT get richer if it means helping out poor people. Like I get CEOs are psychopaths but I'd guess 90% of fortune 500 company execs, if individually polled, would woop and cheer for a 20 trillion dollar infrastructure bill. It's like some herd mentally poo poo our something I literally can't figure it out
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Sep 24, 2020 03:03
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Gods_Butthole posted:I didn't realize Kierkegaard wrote on the economy. I thought he was all existentialism and Jesus. he didn’t but one of his main points was you cannot recreate and relive the past because you have knowledge of the events as they occurred and that knowledge, in and of itself, precludes such a recreation. this is a good explanation for the simulacrum in American society, best summarized by James Murphy as ‘borrowed nostalgia for the unremembered ‘80’s’ we can’t recreate the past so we recreate an imagined simulacra of that past, and over time the simulacra overtakes the reality because memory is mostly imagination. Penisaurus Sex fucked around with this message at 03:07 on Sep 24, 2020 |
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Sep 24, 2020 03:04
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Has anyone said CATO wife, NATO life yet? I don't want to be repeating anyone, so please let me know if someone has said it already. Otherwise I am going to
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Sep 24, 2020 03:04
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oxsnard posted:it's infuriating because the correct answer is clearly print money and build poo poo. Like, you can give all the projects to massive corporations and the 1% will extract a disproportionate amount but it would still be good for communities in addition to filling the unemployment and poverty gap all of that takes longer than one quarter
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Sep 24, 2020 03:04
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