[Doomsday Economics] Home of Kirbeh's $0.04 millislice (minimum order 1000)

The Something Awful Forums > Discussion > C-SPAM > [Doomsday Economics] Home of Kirbeh's $0.04 millislice (minimum order 1000)

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(Thread IKs: skooma512)

Casey Finnigan: Apr 30, 2009; Dumb ✔
So goddamn crazy ✔

Wraith of J.O.I. posted:

heard about this yesterday, relieved to hear it sounds like the proposal has failed

https://twitter.com/washingtonpost/status/1634598053498822656

didn't south korea just have another scandal where it turned out that yet another weird mystical shaman was running a major part of their country

# ? Mar 16, 2023 15:35

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# ? May 24, 2024 05:31

mastershakeman: Oct 28, 2008; by vyelkin

Junkiebev posted:

I mean, either way, it makes TARP sound quaint as gently caress like grandpa talking about five cent candy bars

The TARP originally authorized expenditures of $700 billion. The Emergency Economic Stabilization Act of 2008 created the TARP. The Dodd�Frank Wall Street Reform and Consumer Protection Act, signed into law in 2010, reduced the amount authorized to $475 billion. By October 11, 2012, the Congressional Budget Office (CBO) stated that total disbursements would be $431 billion, and estimated the total cost, including grants for mortgage programs that have not yet been made, would be $24 billion.[1]

lmao it was so cheap in hindsight, inflation jokes aside

Casey Finnigan posted:

didn't south korea just have another scandal where it turned out that yet another weird mystical shaman was running a major part of their country

as long as they don't do more human sacrifices by sinking ferries, and also do keep making kick rear end movies like alienoid, all is well no matter how many shamans are around

# ? Mar 16, 2023 15:35

Mr Hootington: Jul 24, 2008; I'M HAVING A HOOT EATING CORNETTE THE LONG WAY

HallelujahLee posted:

https://twitter.com/France24_en/status/1636368509625319424

Is this the reform that raises retirement age?

# ? Mar 16, 2023 15:37

captainbananas: Sep 11, 2002; Ahoy, Captain!

HallelujahLee posted:

https://twitter.com/France24_en/status/1636368509625319424

zut alors!

# ? Mar 16, 2023 15:37

Justin Tyme: Feb 22, 2011

Pepe Silvia Browne posted:

like, gently caress you lmao. what are you talking about?! for what? what am I supposed to be living for?!

If society expected me to work 12 hour days five days a week for 45 years id probably gently caress off and live in the woods at that point

there is nothing on earth worth working that much for outside of stopping a meteor or disaster relief

# ? Mar 16, 2023 15:37

HallelujahLee: May 3, 2009

Mr Hootington posted:

Is this the reform that raises retirement age?

yes

# ? Mar 16, 2023 15:37

captainbananas: Sep 11, 2002; Ahoy, Captain!

Mr Hootington posted:

Is this the reform that raises retirement age?

yeah

# ? Mar 16, 2023 15:37

Serf: May 5, 2011

Casey Finnigan posted:

didn't south korea just have another scandal where it turned out that yet another weird mystical shaman was running a major part of their country

no different than biden taking his marching orders from the pope

# ? Mar 16, 2023 15:38

Casey Finnigan: Apr 30, 2009; Dumb ✔
So goddamn crazy ✔

Serf posted:

no different than biden taking his marching orders from the pope

that's not very fair to the south korean shamans

https://mothership.sg/2023/03/south-korea-spiritual-mentor-president/
https://en.yna.co.kr/view/AEN20220118003300315

this is the scandal but my knowledge of south korean politics starts and ends at "shamans lol"

# ? Mar 16, 2023 15:40

Paradoxish: Dec 19, 2003; Will you stop going crazy in there?

Beached Whale posted:

The solution to no one wanting to work anymore is to make the conditions for working worse. Bing bong

Labor will be broken and it won't matter what people want. Just wait for the inevitable recession to clear out a lot of the small business trash and consolidate employment back to a point where workers have zero bargaining power.

# ? Mar 16, 2023 15:40

Wraith of J.O.I.: Jan 25, 2012

Pepe Silvia Browne posted:

like, gently caress you lmao. what are you talking about?! for what? what am I supposed to be living for?!

and apparently one of the biggest political issues in the country is low birthrate

i wonder if these are related!!

# ? Mar 16, 2023 15:41

Serf: May 5, 2011

Casey Finnigan posted:

that's not very fair to the south korean shamans

https://mothership.sg/2023/03/south-korea-spiritual-mentor-president/
https://en.yna.co.kr/view/AEN20220118003300315

this is the scandal but my knowledge of south korean politics starts and ends at "shamans lol"

tbf i would have more respect for a shaman than the apocalypse cultists running the air force

# ? Mar 16, 2023 15:44

SpaceDrake: Dec 22, 2006; I can't avoid filling a game with awful memes, even if I want to. It's in my bones...!

Mr Hootington posted:

*dusts off memes*
Hello old friends
https://www.youtube.com/watch?v=Nt6ILTNaqQ8
https://www.youtube.com/watch?v=WEMCYBPUR00
https://www.youtube.com/watch?v=jk1eU_zlf3s

https://brrr.money/ has never left my hotbar

it is seeing a lot of use right now

# ? Mar 16, 2023 15:46

Frosted Flake: Sep 13, 2011; Semper Shitpost Ubique

HallelujahLee posted:

https://twitter.com/France24_en/status/1636368509625319424

lol these motherfuckers. Macron may really be The Last Neoliberal.

https://twitter.com/France24_en/status/1636374836565131265?s=20

# ? Mar 16, 2023 15:47

Hubbert: Mar 25, 2007; At a time of universal deceit, telling the truth is a revolutionary act.

dk2m posted:

the way to understand what’s happening right now is not at all what orthodox economics wants to tell you. this is sort of an effort post.

I’m completely simple terms - this is the consequence of Obama and Geithners policy in 2008. when the banks blew up back then, we had a choice - do we as a society protect the creditor or protect the debtor? the answer came clearly down to protecting the creditor - the banks.

the main reason for that is that is because we were in the midst of a revolution - the free trade agreements and de-industrialization policies of Clinton staring with NAFTA and the admittance of China to the WTO in 2001 were turbocharging the equity and bond market.

with labor being squeezed and eventually collapsing by moving overseas, the main enemy of neoliberalism was conquered. unions fell apart and factories shut down, but because of the rise in technology coinciding with dirt cheap foreign labor costs, productivity went through the roof. around the same time, business schools were churning out MBAs that based their framework around finance instead of industrial engineering - older schools like GMI in Flint (now Kettering University) which trained executives to think in terms of industry were giving way to Stanford and Harvard MBAs who prioritized the CFO led model of prioritizing the stockholder.

these coinciding factors led to executives gutting their companies to shutter factories, move them overseas, and largely focus on financial engineering to boost their share price. a characteristic of finance that separates it from a real economy is that financial returns compound while a real economy looks like an S curve - a financial economy simply grows unbounded.

that’s because finance is debt based. banks create debt and make claims on assets. their source comes from thin air - when you apply for a mortgage, they simply push a button and come up with a the money. in theory, they are required to keep a reserve to cover deposits - with deregulation, it has given them less and less to cover on hand, to now virtually guaranteed risk-free government backed bailouts.

i also think it’s important to understand what exactly a bank does. let’s say you deposit some money into one. from a banks balance sheet perspective, your deposit is a liability in an accounting sense. this means that they package the liability, your deposit, into an asset via an exchange on the market.

because a banks primary product is making claims on real assets, they naturally are rent seeking institutions. in order for them to grow and make money, they need 2 things - an ever larger pool of assets to lay claims on and a source of easy credit to lever their claims on to increase their rate of return. the first part is done via privatization - by moving assets from the public domain, such as land or healthcare or education, to the private one, they force the entire population to take on loans, which gives the banks their pool of assets to lay claims on.

the second piece comes from the availability of a Bank themselves to get short term loans. a bank is a special institution under financial capitalism that can enter a repo market with its central bank, the fed. they can collateralize and obtain credit from the central bank and can use that same credit to cover their liabilities (aka deposits) or go into the financial markets and buy stocks, bonds and products.

banks pre 2008 were making extremely risky bets by tapping into the largest debt pool of all - mortgages. because everyone has a mortgage, which pays interest, investment banks began committing outright fraud by packaging garbage loans and making it appear golden and the commercial banks lended loans to anyone with a pulse. this skyrocketed returns across the board as the combination of derivatives and interest bearing loans compounded and grew far beyond the growth of the real economy. in 2008 when it finally collapsed, Obama decided that he would protect the creditors and the only way to do this was to re-inflate the prices of both real estate and the stock market.

this is where the regime of 0 interest rate credit came into play. as money became basically free, banks gave the government all of their toxic bonds and derivatives and in return got free money from the federal reserve to chase returns again. stock buybacks, VC money, institutional housing buybacks, healthcare, insurance, and arbitraging were all turbocharged with QE. this led to an equity and bond market boom as the federal reserve gave the banks enough loans to spread throughout the system to make sure all the distressed houses they had on the balance sheet were not only propped up again, but would eventually far outpace the book value of the homes itself.

as the rally grew, and the economy became more polarized, the creditors and financial class inflated the stock market to obscene levels, but needed more and more assets to lay their credit claims on. this only further impoverished the rest of us, as housing, education and healthcare costs spiraled out of control. rather than see these as the driving costs for what we now call “inflation”, the fed simply doubled down on this regime and left it at near 0 well after the initial recession ended. the small financial class enjoyed unparalleled wealth that had never really been seen before in american history.

what eventually burst this bubble was covid. since we deinsturalized, we faced sudden shortages that caused massive supply/demand imbalances. these causes prices for some goods to spiral, cars for example. in response, the fed dropped another 9 trillion QE regime in which the main intent was to inflate the stock and bond market. this led to the absolutely asinine situation of a soaring stock market amidst collapsing employment.

as covid ended and labor had new gained power to negotiate wages in 2022, the idea of inflation started to really become a mainstream topic in financial news. inflation is really a euphemism for rising wages and employment, but an overall increase of wages would sharply threaten financial returns for all the now CFO led companies and startups. to curb this, the fed decided to raise interest rates.

the problem is that they have flooded the market, since 2008, with low interest rate credit. as companies became flush with cash, especially the tech sector, they parked their money into treasury bonds. most banks barely pay any interest on savings or CDs, something like less than .05%, so wealth individuals and cash plush companies would rather invest in long term t-bonds which were only interrupted after labor suddenly had some negotiation power due to covid.

this whole situation is a consequence of gutting the country of industry and focusing on finance as the primary growth driver. the problem is that now, we have so much credit that has been used to indebt the rest of us, and nearly every bank has underwater bonds as they invested in “safe” treasury bonds, that the system has nowhere to go. the individual actions of banks, such as bailouts, are less of a moral hazard than the overall structure of the economy basically resembling the Soviet Union, but financially rather than via fake production quotas. as the Soviet Union was obsessed with production to to point of it becoming farcical, so we are with finance to the point of it now it being largely fiction as we cannot QE as that would counter act the rate hikes, and we cannot continue the rate hikes as that would collapse more banks. we have to come to the conclusion that banks and creditors ARE the problem, and let them collapse and bring back a goods and consumer spending based economy rather than a fictitious debt based one.

put this in the OP

# ? Mar 16, 2023 15:49

forkboy84: Jun 13, 2012; Corgis love bread. And Puro

Frosted Flake posted:

lol these motherfuckers. Macron may really be The Last Neoliberal.

https://twitter.com/France24_en/status/1636374836565131265?s=20

You could get away with this in a lot of countries but the French still manage to get quite publicly mad at things like this.

# ? Mar 16, 2023 15:51

SKULL.GIF: Jan 20, 2017

Can't wait for the French general strike.

# ? Mar 16, 2023 15:52

19 o'clock: Sep 9, 2004; Excelsior!!!

forkboy84 posted:

You could get away with this in a lot of countries but the French still manage to get quite publicly mad at things like this.

They�ll have to go back to work eventually

# ? Mar 16, 2023 15:52

Mirthless: Mar 27, 2011; by the sex ghost

Pittsburgh Fentanyl Cloud posted:

lol oh boy is that huge

especially since most people get sick days rolled into vacation as general PTO anymore

Headline is clickbaiting

The ruling isnt about productivity, the hospital docked PTO because people weren't meeting their scheduled hours. It's still a poo poo ruling with poo poo implications but we're not quite at "vacation is cancelled because you didnt meet handle time metrics"

# ? Mar 16, 2023 15:52

Pepe Silvia Browne: Jan 1, 2007

Mirthless posted:

Headline is clickbaiting

The ruling isnt about productivity, the hospital docked PTO because people weren't meeting their scheduled hours. It's still a poo poo ruling with poo poo implications but we're not quite at "vacation is cancelled because you didnt meet handle time metrics"

thanks leon

# ? Mar 16, 2023 15:53

Pittsburgh Fentanyl Cloud: Apr 7, 2003

Mirthless posted:

Headline is clickbaiting

The ruling isnt about productivity, the hospital docked PTO because people weren't meeting their scheduled hours. It's still a poo poo ruling with poo poo implications but we're not quite at "vacation is cancelled because you didnt meet handle time metrics"

yeah, that's next month

# ? Mar 16, 2023 15:53

HallelujahLee: May 3, 2009

its a very poo poo ruling with very poo poo implications you dont need to do the stupid dnd gimmick

# ? Mar 16, 2023 15:54

Eric Cantonese: Dec 21, 2004; You should hear my accent.

Mirthless posted:

Headline is clickbaiting

The ruling isnt about productivity, the hospital docked PTO because people weren't meeting their scheduled hours. It's still a poo poo ruling with poo poo implications but we're not quite at "vacation is cancelled because you didnt meet handle time metrics"

I'm still disheartened at how the Plaintiffs arguably abandoned their state law arguments too.

# ? Mar 16, 2023 15:54

Turtle Sandbox: Dec 31, 2007; by Fluffdaddy

a.lo posted:

We're never getting a 32 hour work week in this country lol

The only way to beat china is to have everyone work 80 hours a week and anyone who doesn't want to is a weak little bitch.

# ? Mar 16, 2023 15:55

webcams for christ: Nov 2, 2005

Mirthless posted:

Headline is clickbaiting

The ruling isnt about productivity, the hospital docked PTO because people weren't meeting their scheduled hours. It's still a poo poo ruling with poo poo implications but we're not quite at "vacation is cancelled because you didnt meet handle time metrics"

yeah I'm sure bosses accross the nation will respect the narrow ruling and only use this in edge cases where the employees are actually being lovely

# ? Mar 16, 2023 15:55

Casey Finnigan: Apr 30, 2009; Dumb ✔
So goddamn crazy ✔

Turtle Sandbox posted:

The only way to beat china is to have everyone work 80 hours a week and anyone who doesn't want to is a weak little bitch.

i love this poo poo cause what are we working such long hours for in the usa. we don't make poo poo. we don't produce anything worthwhile. only poo poo we make is apps and they all suck

# ? Mar 16, 2023 15:57

FUCK COREY PERRY: Apr 19, 2008

I want to Hoot and Holler over yet another Bank Death

# ? Mar 16, 2023 15:58

FUCK COREY PERRY: Apr 19, 2008

wobble harder you flimsy sons a bitches

# ? Mar 16, 2023 15:59

Oglethorpe: Aug 8, 2005

https://twitter.com/WSJ/status/1636380850341441538

# ? Mar 16, 2023 16:02

19 o'clock: Sep 9, 2004; Excelsior!!!

Casey Finnigan posted:

i love this poo poo cause what are we working such long hours for in the usa. we don't make poo poo. we don't produce anything worthwhile. only poo poo we make is apps and they all suck

don�t talk poo poo about the metaverse

# ? Mar 16, 2023 16:02

spacemang_spliff: Nov 29, 2014; wide pickle

Mirthless posted:

Headline is clickbaiting

The ruling isnt about productivity, the hospital docked PTO because people weren't meeting their scheduled hours. It's still a poo poo ruling with poo poo implications but we're not quite at "vacation is cancelled because you didnt meet handle time metrics"

you sure about that?

Bayada health care employees, sometimes called
�Clinicians,�4
are paid a salary but, to meet their productivity
minimums, must accumulate a specified number of
�productivity points� a week � each point being roughly equivalent to 1.33 hours of work � which are awarded in
exchange for completing work tasks. A routine visit to a
patient�s home, for example, is assigned one point. If an
employee anticipates that she will not meet her productivity
minimum, she can make up the deficit by performing office
work or additional home visits. Employees can request an
increase or decrease in their weekly productivity minimums,
corresponding to a commensurate increase or decrease in pay.5

When Bayada employees exceed their productivity
minimums, they receive additional compensation. On the
other hand, if employees fail to meet their weekly productivity
minimums, Bayada withdraws from their available PTO to
supplement the difference between the points they were
expected to earn and what they actually earned. Bayada does
not, however, deduct from an employee�s guaranteed base
salary when the employee lacks sufficient PTO to cover a
productivity point deficit. The only circumstance in which
Bayada would reduce an employee�s salary is if the employee
voluntarily takes a day off without sufficient PTO.6

# ? Mar 16, 2023 16:02

Horseshoe theory: Mar 7, 2005

HallelujahLee posted:

https://twitter.com/France24_en/status/1636368509625319424

ETA until she and Macron are hauled via cart to Lady Guillotine? :thunk:

# ? Mar 16, 2023 16:03

NeonPunk: Dec 21, 2020

Mirthless posted:

Headline is clickbaiting

The ruling isnt about productivity, the hospital docked PTO because people weren't meeting their scheduled hours. It's still a poo poo ruling with poo poo implications but we're not quite at "vacation is cancelled because you didnt meet handle time metrics"

Cool. Then employers can just call up their workers and say that due to some unforeseen circumstances, you're scheduled for a 12 hour shift in a hour, I know today is your day off but those things happen. And if they don't show up to work, bye bye to your PTO

# ? Mar 16, 2023 16:04

Pittsburgh Fentanyl Cloud: Apr 7, 2003

"Surely employers will not misinterpret a court decision to make capricious and spiteful decisions" - a brain lord

# ? Mar 16, 2023 16:06

coelomate: Oct 21, 2020

Oglethorpe posted:

https://twitter.com/WSJ/status/1636380850341441538

A senior banker was overheard stating "this time, we're totally not going to accidentally knock it over by trying to raise capital, we have learned our lessons from (checks notes) one week ago today"

# ? Mar 16, 2023 16:06

HallelujahLee: May 3, 2009

Horseshoe theory posted:

ETA until she and Macron are hauled via cart to Lady Guillotine?

hopefully soon

# ? Mar 16, 2023 16:08

F_Shit_Fitzgerald: Feb 2, 2017

Horseshoe theory posted:

ETA until she and Macron are hauled via cart to Lady Guillotine?

Not soon enough.

We should take more of our cues from the French.

# ? Mar 16, 2023 16:09

fits my needs: Jan 1, 2011; Grimey Drawer

Pittsburgh Fentanyl Cloud posted:

Industry newsletter I can't directly link to wrt to the coming Medicaid apocalypse:

A> ~28% of Americans, period, were on Medicaid in 2022
B> The states are going to deliberately throw 18% of them off in the coming year

cool

oh yeah, big secret

https://twitter.com/KFF/status/1636352224518365187?s=20

# ? Mar 16, 2023 16:09

Archduke Frantz Fanon: Sep 7, 2004

spacemang_spliff posted:

you sure about that?

Bayada health care employees, sometimes called
�Clinicians,�4
are paid a salary but, to meet their productivity
minimums, must accumulate a specified number of
�productivity points� a week � each point being roughly equivalent to 1.33 hours of work � which are awarded in
exchange for completing work tasks. A routine visit to a
patient�s home, for example, is assigned one point. If an
employee anticipates that she will not meet her productivity
minimum, she can make up the deficit by performing office
work or additional home visits. Employees can request an
increase or decrease in their weekly productivity minimums,
corresponding to a commensurate increase or decrease in pay.5

When Bayada employees exceed their productivity
minimums, they receive additional compensation. On the
other hand, if employees fail to meet their weekly productivity
minimums, Bayada withdraws from their available PTO to
supplement the difference between the points they were
expected to earn and what they actually earned. Bayada does
not, however, deduct from an employee�s guaranteed base
salary when the employee lacks sufficient PTO to cover a
productivity point deficit. The only circumstance in which
Bayada would reduce an employee�s salary is if the employee
voluntarily takes a day off without sufficient PTO.6

this is the most hr brained thing i have read

just make them hourly (i know its so they don't ever have to pay overtime but still)

# ? Mar 16, 2023 16:11

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# ? May 24, 2024 05:31

Pittsburgh Fentanyl Cloud: Apr 7, 2003

fits my needs posted:

oh yeah, big secret

https://twitter.com/KFF/status/1636352224518365187?s=20

Correct

# ? Mar 16, 2023 16:11

The Something Awful Forums > Discussion > C-SPAM > [Doomsday Economics] Home of Kirbeh's $0.04 millislice (minimum order 1000)

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