|
silentsnack posted:gotta differentiate... are we taking about "The Economy" of meaningless gambling, or are we talking the kind of economy where stuff physically exists and production happens and people either eat or die? Especially that last bit. the physical good market is a part of it as long as people can use credit, the goods will be there. using credit is basically just using "someone else's" money, typically financial institutions'. we swish the financial services money around for them and pay them (interest) for the privilege. if the people ever can't pay back the money the federal government will just take it from people who do pay taxes or print it and pay the financial institutions anyway, allowing them to go back to issuing credit being an unreliable borrower doesn't cut off your access to credit, you just have to pay more and more for it. unless there are literally zero value producing jobs then there will always be service and support industries to benefit the money makers and that's where the lower classes will exist, buried under credit until people start literally starving to death en masse or there is a homeless crisis that pushes into double digit percentages, then the system will chug along yikes, a poor quality snipe
|
#
?
Jan 21, 2021 18:21
|
|
|
|
| # ? Jun 12, 2024 21:13 |
|
|
skooma512 posted:Die pedocoins! I want a video card!
|
|
#
?
Jan 21, 2021 18:28
|
|
|
Cold on a Cob posted:drat That's just how commercial mortgages work now, I don't see why it wouldn't work for individual ones
|
|
#
?
Jan 21, 2021 18:28
|
|
|
Us dollar may dip below 90 today or tomorrow.
|
|
#
?
Jan 21, 2021 18:36
|
|
|
Fame Douglas posted:Bitcorn and ~*~The Market~*~ haven't really correlated in the past, can't imagine it being a harbinger of anything but Cryptocurrency being extra stupid and speculative. Now hang on a moment. Back in February / March, I seriously debated dumping some money into Bitcoin (despite laughing at it for years) in the belief that it would function as a hedge against the stock market. Instead, I stayed back, because it tracked too closely with the dumping of the equity markets - and if I had bought in, I'd be out a ton of money. And then, the money printer went brrrr ... and asset inflation became the new norm with us. Crypto got popular in the later part of 2020, probably because it was the "next thing" that you could "get in early" on. Here's an article that also explores whether Bitcoin has any predictive ability or not: https://ideas.repec.org/p/cui/wpaper/0054.html And finally, for the gooniest answer, this particular line from The Long Dark keeps sticking with me: quote:In the mid-20XX, the ongoing global economic crisis, fueled by continued political instability in the US and Europe, contributing to increasing volatility in the financial markets, led to the sudden catastrophic collapse of the Canadian, and in general, the North American banking system. This immediately rendered Canadian currency worthless, triggered super-inflation of the US dollar, and all trade and economic activity promptly shifted to the Chinese Yuan or crypto-currencies (a la Bitcoin). Crippled economically, Canada was bought under the financial oversight of the North American Economic Zone, which positioned Canada as a kind of protectorate of a larger US-based economic bloc. From this point onward, the majority of economic activity became centralized on Canada's already densely urbanized population, with smaller rural and remote communities being essentially cut off. Without a local economic lifeline many of these communities had become dependent on for their continued existence, most rural or remote communities became hollowed out, as people fled to urban areas in search of greater economic stability. Hubbert has issued a correction as of 18:45 on Jan 21, 2021 |
|
#
?
Jan 21, 2021 18:43
|
|
|
Rutibex posted:just buy a $500 rifle and live in the woods. "owning" land means that your allowed to call people to shoot at trespassers, just cut out the middle man You'd think that, but they get you on the bullets! Oldest trick in the book. Better stick to a hockey mask and an inexpensive machete or axe that you don't have to feed money
|
|
#
?
Jan 21, 2021 18:52
|
|
|
Rutibex posted:just buy a $500 rifle and live in the woods. "owning" land means that your allowed to call people to shoot at trespassers, just cut out the middle man $500 may get you a ratty .22 these days. Not sure how intimidating you're going to be with that, but at least the ammo will be cheaper. Hope you don't live in bear country, though.
|
|
#
?
Jan 21, 2021 18:55
|
|
|
Mr Hootington posted:Us dollar may dip below 90 today or tomorrow. 90 what?
|
|
#
?
Jan 21, 2021 19:12
|
|
|
https://twitter.com/TikTokInvestors/status/1352301008794300419
|
|
#
?
Jan 21, 2021 19:15
|
|
|
skooma512 posted:90 what? cents
|
|
#
?
Jan 21, 2021 19:20
|
|
|
why doesn't biden simply mint $2,000 coins for every single person where's my loving coin
|
|
#
?
Jan 21, 2021 19:21
|
|
|
Hubbert posted:Back in February / March, I seriously debated dumping some money into Bitcoin (despite laughing at it for years) in the belief that it would function as a hedge against the stock market. Instead, I stayed back, because it tracked too closely with the dumping of the equity markets - and if I had bought in, I'd be out a ton of money. cool journal entry
|
|
#
?
Jan 21, 2021 19:22
|
|
|
Centrist Committee posted:cool journal entry thanks i'll keep my sincere posts to myself
|
|
#
?
Jan 21, 2021 19:23
|
|
|
Rutibex posted:stealing guns when you don't already have a gun sounds dangerous it’s also a risk assessment tool for banks to decide who gets to receive loans and who gets to receive loans with exorbitant interest rates
|
|
#
?
Jan 21, 2021 19:23
|
|
|
Greg12 posted:why doesn't biden simply mint $2,000 coins for every single person he could save on metal by decreeing that one of the coins already in your pocket is imbued with $2000 units of magic
|
|
#
?
Jan 21, 2021 19:29
|
|
|
Declan MacManus posted:it’s also a risk assessment tool for banks to decide who gets to receive loans and who gets to receive loans with exorbitant interest rates banks don't give a fig leaf if you pay them or not. they get bailed out; their money is guaranteed. the banks care about people doing the proper money rituals, so that their position in society's grand delusion is never questioned
|
|
#
?
Jan 21, 2021 19:30
|
|
|
Moral Hazard must be defended at all costs.
|
|
#
?
Jan 21, 2021 19:40
|
|
|
Hubbert posted:thanks i'll keep my sincere posts to myself if it’s about how you have money to speculate on the stock market and cryptocurrencies then yeah that would be cool. there are a ton of forums outside of cspam for the kind of thing.
|
|
#
?
Jan 21, 2021 19:40
|
|
|
Mr Hootington posted:Us dollar may dip below 90 today or tomorrow. against what? PawParole has issued a correction as of 19:45 on Jan 21, 2021 |
|
#
?
Jan 21, 2021 19:41
|
|
|
PawParole posted:against what? Oh. Tubgoat has issued a correction as of 19:48 on Jan 21, 2021 |
|
#
?
Jan 21, 2021 19:46
|
|
|
the exchange rate of US dollars to US cents has fallen to 1:90
|
|
#
?
Jan 21, 2021 19:48
|
|
|
usd has been like 1.20 to 1.30 cad for awhile so that can't be right
|
|
#
?
Jan 21, 2021 19:48
|
|
|
wrap it up, dooms-dailures. your prophet likes profit. https://twitter.com/northmantrader/status/1352330282687467521?s=21
|
|
#
?
Jan 21, 2021 20:05
|
|
|
Hubbert posted:thanks i'll keep my sincere posts to myself gently caress that, 
|
|
#
?
Jan 21, 2021 20:16
|
|
|
Hubbert posted:thanks i'll keep my sincere posts to myself What did you expect admitting to thinking about buying bitcoin? Anyway still post. Who cares
|
|
#
?
Jan 21, 2021 20:24
|
|
|
KirbyKhan posted:gently caress that,  tho if you're post about how you have the spare dollars to speculate be prepared for someone without those means to deservedly poo poo on you for it
|
|
#
?
Jan 21, 2021 20:24
|
|
|
I've been thinking about the "correct" way to introduce newly printed money to the economy, and honestly I think what is happening now is close to the ideal. The ideal case is everyone gets money so their net worth increases by the same percentage, that way their relative purchasing power stays the same. This is kind of what happens now where the rich are given loans to buy investment assets, while the poor are given checks. It would be interesting to see how the net worth distribution is being affected by the money printing.
|
|
#
?
Jan 21, 2021 20:28
|
|
|
DOW SOARS
|
|
#
?
Jan 21, 2021 20:30
|
|
|
human garbage bag posted:I've been thinking about the "correct" way to introduce newly printed money to the economy, and honestly I think what is happening now is close to the ideal. The ideal case is everyone gets money so their net worth increases by the same percentage, that way their relative purchasing power stays the same. This is kind of what happens now where the rich are given loans to buy investment assets, while the poor are given checks. It would be interesting to see how the net worth distribution is being affected by the money printing. I dont know what you are trying to do here
|
|
#
?
Jan 21, 2021 20:33
|
|
|
human garbage bag posted:I've been thinking about the "correct" way to introduce newly printed money to the economy, and honestly I think what is happening now is close to the ideal. The ideal case is everyone gets money so their net worth increases by the same percentage, that way their relative purchasing power stays the same. This is kind of what happens now where the rich are given loans to buy investment assets, while the poor are given checks. It would be interesting to see how the net worth distribution is being affected by the money printing. so a few plutocrats get a quadrillion dollars, millions of wage workers go bankrupt. great plan.
|
|
#
?
Jan 21, 2021 20:46
|
|
|
Mr Hootington posted:I dont know what you are trying to do here hes saying we need to give more money to rich people to be fair lol
|
|
#
?
Jan 21, 2021 20:50
|
|
|
quantitatively ease all over my face daddy
|
|
#
?
Jan 21, 2021 21:31
|
|
|
RBC posted:hes saying we need to give more money to rich people to be fair lol Sure, but it doesn't matter because the relative purchasing power will stay the same between the rich and poor.
|
|
#
?
Jan 21, 2021 21:33
|
|
|
gently caress COREY PERRY posted:
yeah if you want people to care about your investment journal bfc is probably better but people will still post their investments itt because this board is full of larpers
|
|
#
?
Jan 21, 2021 21:43
|
|
|
 
|
|
#
?
Jan 22, 2021 02:52
|
|
|
We've typically seen bitcoin go up when things seem more unstable. It going down makes sense re: a return to "normalcy".
|
|
#
?
Jan 22, 2021 03:25
|
|
|
https://twitter.com/NorthmanTrader/status/1352366644811751432
|
|
#
?
Jan 22, 2021 04:25
|
|
|
human garbage bag posted:Sure, but it doesn't matter because the relative purchasing power will stay the same between the rich and poor. lol
|
|
#
?
Jan 22, 2021 04:31
|
|
|
if we want to make sure purchasing power stays the same, why arent the bottom 10% who have negative net worth, paying up then???? gimme my $2000, you homeless assholes
|
|
#
?
Jan 22, 2021 04:59
|
|
|
|
| # ? Jun 12, 2024 21:13 |
|
|
Cold on a Cob posted:drat There's a Canadian mortgage broker on twitter (Ron Butler) who has said on a number of occasions that the "fraud portfolio" (identified/measured how?) actually performs better than the legitimate loans do, overall, and that absolutely nobody wants to talk or think too hard about that. I imagine it's that extra little bit of "we've got to find a way to pay so they don't find out" but who knows.
|
|
#
?
Jan 22, 2021 09:47
|
|