(Thread IKs:
skooma512)
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cool av posted:but lookat this fucker right here: this guy is dumb. some people would move their oversized accounts from small banks to big banks since the latter is less likely to fail regardless but anything over 250k still wouldn't be fdic insured there. what he wants to save banks is for the fdic to insure every single dollar at every single bank, which indeed would stop people from shifting funds around at the cost of adding $10 trillion in liabilities to the government's balance sheet. money was going to move from small to big banks regardless but what the fed has done by saying it will only fully insure systemically important banks is to make anyone with an account over 250k an absolute loving moron if its not parked at one of the big four banks. keeping the limit at 250k wouldn't have stopped money moving but it wouldn't completely disincentivize anyone that isn't poor from parking their money at a regional bank
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# ? Mar 17, 2023 05:28 |
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# ? May 25, 2024 12:48 |
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https://www.engadget.com/cwa-union-files-another-unfair-labor-charge-against-ebay-owned-tcgplayer-160641406.html people are losing jobs from unionizing over trading cards now.
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# ? Mar 17, 2023 05:29 |
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Raskolnikov38 posted:this guy is dumb. some people would move their oversized accounts from small banks to big banks since the latter is less likely to fail regardless but anything over 250k still wouldn't be fdic insured there. what he wants to save banks is for the fdic to insure every single dollar at every single bank, which indeed would stop people from shifting funds around at the cost of adding $10 trillion in liabilities to the government's balance sheet. The idea is that even amounts over $250k are de facto insured at big banks because "too big to fail will be bailed out" is the actual rule regardless of what anyone says the rule is. I think it's basically correct, this government will stand behind major banks at any cost and people with money would do well to notice that. Who knows what these rich business owners will actually do though, they seem to be driven by relationships and herding more than any sort of practical considerations
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# ? Mar 17, 2023 05:34 |
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nomad2020 posted:Look, the tech bro banks had a contagion and were giving other banks the runs. How is this hard to understand? Need to make the banks wear masks
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# ? Mar 17, 2023 05:40 |
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Cpt_Obvious posted:Organisation is the solution. Unions are a start, and the start is good. Community organizing and/or tenant organizing are also good places to start.
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# ? Mar 17, 2023 05:41 |
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speaking of china... https://www.reuters.com/world/china/china-raise-retirement-age-deal-with-aging-population-media-2023-03-14/
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# ? Mar 17, 2023 05:46 |
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dk2m posted:this is a genuinely great question. phrased another way - why are losses happening at blue chip companies, which are supposedly the same class of people the fed is supposed to help? and how is that contributing to the erosion of employment? 🐐🐐🐐🐐🐐🐐
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# ? Mar 17, 2023 05:47 |
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Vox Nihili posted:When is America depopulating? I dunno a decade or two from now? If we really poo poo the bed I imagine quality of life goes to pot, and they aren't gonna pay people to gently caress so I doubt folks are gonna make kids. I'm just frustrated that nothing seems like it's gonna get better.j I'm gonna go to bed, and hopefully play with my cool grass cat when I wake up.
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# ? Mar 17, 2023 06:13 |
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thechosenone posted:I dunno a decade or two from now? If we really poo poo the bed I imagine quality of life goes to pot, and they aren't gonna pay people to gently caress so I doubt folks are gonna make kids. I'm just frustrated that nothing seems like it's gonna get better.j trump said he wanted to give cash bonuses for couples having kids at CPAC, guessing it’s probably less than the 500k required to raise a child from 0-18 in this country, provided they don’t get gunned down at school
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# ? Mar 17, 2023 06:15 |
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Or killed by covid, or the collapsing infrastructure. Hell the healthcare costs and rising pollution are likely to reduce fertility and increase birth defects, along with killing prospective mothers who are forced to die from ectopic pregnancies. They can open the blood gates, but that just means less blood to go around, not more. Not like they'd be willing to hire them to do stuff, they don't want the people who are around now! They'd just try to chase the imaginary dragon of reduced labor costs even when they themselves are the main component of that cost and therefore cannot be cut down on.
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# ? Mar 17, 2023 06:18 |
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we could certainly have another plague kill off millions of workers
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# ? Mar 17, 2023 06:23 |
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bird flu looks like it’s right around the corner
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# ? Mar 17, 2023 06:39 |
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Thorn Wishes Talon posted:speaking of china... "Life expectancy has risen from around 44 years in 1960 to 78 years as of 2021, higher than in the United States, and is projected to exceed 80 years by 2050." lol
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# ? Mar 17, 2023 06:39 |
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Demon Of The Fall posted:bird flu looks like it’s right around the corner
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# ? Mar 17, 2023 06:40 |
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thechosenone posted:I dunno a decade or two from now? If we really poo poo the bed I imagine quality of life goes to pot, and they aren't gonna pay people to gently caress so I doubt folks are gonna make kids. I'm just frustrated that nothing seems like it's gonna get better.j Quality of life and population are totally different things that are barely related. The worst places to live on the planet can and do still see enormous population growth. The US can continue to grow while getting much worse.
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# ? Mar 17, 2023 06:40 |
looking forward to the straw that breaks the camels back, of all things, being tiktok getting banned leading to mass rioting
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# ? Mar 17, 2023 06:41 |
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dk2m posted:to be very, very clear - hyperinflation can only exist in countries that take on foreign debt. america, due to its unique position of being a reserve currency, will never experience it. america is the second largest manufacturer in the world, china only overtook us in 2010
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# ? Mar 17, 2023 07:10 |
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Delta-Wye posted:looking forward to the straw that breaks the camels back, of all things, being tiktok getting banned leading to mass rioting the tiktokers will not riot if they have nowhere to upload their videos of them rioting
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# ? Mar 17, 2023 07:18 |
Vox Nihili posted:Its cool that other countries also have insanely stupid and undemocratic rules to magic up laws, just like America They have a rule for all-in lol
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# ? Mar 17, 2023 07:21 |
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Thorn Wishes Talon posted:speaking of china... quote:China has yet to formally announce a change to its retirement age, which is among the lowest in the world at 60 for men, 55 for white-collar women and 50 for women who work in factories. wow i didn't know that, thanks for the link!
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# ? Mar 17, 2023 07:36 |
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Mr Hootington posted:I thought the bank wasn't a systemic risk JP Morgan to regional banks:
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# ? Mar 17, 2023 07:39 |
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Minecraft Holmes posted:america is the second largest manufacturer in the world, china only overtook us in 2010 id respond to this but you got probed for some of the dumbest poo poo of all time so its your fault imo, rip
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# ? Mar 17, 2023 07:47 |
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dk2m posted:id respond to this but you got probed for some of the dumbest poo poo of all time so its your fault imo, rip You still should Its a pretty common narrative about why actually our fictionalized system is totally still ok
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# ? Mar 17, 2023 07:50 |
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https://twitter.com/BusinessInsider/status/1636595545186742272?s=20
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# ? Mar 17, 2023 08:04 |
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The goddamn list is 2/3rds Texas, the other 1/3rd are in even worse states like Tennessee and Missouri.
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# ? Mar 17, 2023 08:08 |
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lived in kansas, born in CA the seg gets worse the farther east it goes
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# ? Mar 17, 2023 08:13 |
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pouring one out for Grognan, victim of the inter-forum meme wars
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# ? Mar 17, 2023 08:53 |
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love 2 be here for u - me
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# ? Mar 17, 2023 09:36 |
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Grognan posted:lived in kansas, born in CA the seg gets worse the farther east it goes this dude from kansas lmaoooooooooo
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# ? Mar 17, 2023 09:42 |
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Go to university and rack up debt in iowa or dakota, move to coast and become a neoliberal rear end in a top hat, get mad at your parents and hate your hometown. make 3x your salary compared to where you come from. buy a house in the suburb and oppose homelessness and high density housing. vote biden, very hard. thank you.
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# ? Mar 17, 2023 10:36 |
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dk2m posted:this is why there is no contradiction - the layoffs are part of this squeeze and labor is in a feudal relationship with its creditors. executives in key sectors will offset their losses in rate hikes by squeezing labor. this is why something like Apple stock continues to increase amongst this volatility. There's always the inherent contradiction in capitalism at play, though. While those Meta employees may have savings accounts and severence packages to help them look for other employment, the musical chairs of swapping between FAANG/MAMAA/the biggest tech companies has stopped as all of them paused hiring for now. If you can't join the established tech companies, then you have to settle for a new tech startup...except rate hikes are disrupting VC flow and the money spigot for the next Uber has slowed to a trickle. These laid off techbros are still at the end of the day workers. Sure they may have spent an enormous amount of money on dumb poo poo like NFTs, expensive wines, or Funko Pops, but they eventually will run out of spending cash to purchase goods and services like they used to if they can't find gainful employment. And that's why even under the reign of finance capitalism we still have a contradiction that could lead to its failure: fired workers increase profits in the short term, but if enough companies fire off enough of the workforce there's then not enough workers getting wages to pay for the goods and services of these companies, causing businesses to fail. The reality is not enough layoffs are happening at the moment to force the contradiction yet, though. There would have to be pandemic level of layoffs or severe recession to even get somewhere near close to that.
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# ? Mar 17, 2023 10:37 |
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BEAR GRYLLZ posted:wow i didn't know that, thanks for the link! China seems cool. I'd like to retire at 60. Well, I'd like to retire at 40 but that's unlikely. 60 is alright. Civilised
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# ? Mar 17, 2023 10:37 |
DancingShade posted:Look we can't print more doctors, hospitals or drugs. But we can absolutely change an entry in an excel spreadsheet to any number we like. I'm on medicaid and still have to deal with all the bullshit of private coverage except I don't have to actually pay for anything. I hosed up my shoulder 6 months ago and still can't lift anything more than 5lb even after PT so the doctor ordered an MRI, then 2 weeks later I get a call from some company in ohio saying the approval was denied and now it's time to wait some more while they argue with the doctor's insurance wrangler.
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# ? Mar 17, 2023 10:50 |
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HiHo ChiRho posted:There's always the inherent contradiction in capitalism at play, though. While those Meta employees may have savings accounts and severence packages to help them look for other employment, the musical chairs of swapping between FAANG/MAMAA/the biggest tech companies has stopped as all of them paused hiring for now. If you can't join the established tech companies, then you have to settle for a new tech startup...except rate hikes are disrupting VC flow and the money spigot for the next Uber has slowed to a trickle. That's an interesting point. HiHo ChiRho posted:[...] if enough companies fire off enough of the workforce there's then not enough workers getting wages to pay for the goods and services of these companies, causing businesses to fail. Personally I am no longer convinced that the majority of workers getting wages and spending them on goods and services is a vital part of the economy. Certainly having a huge portion of the earning workforce buying goods is helpful, but it seems that a smaller and smaller portion of the top of the wealth pyramid are responsible for the majority of economic activity in the US. I don't know where it all ends but I see graphs that say the top X% of people are now responsible for Y% of spending, and the lower tiers of workers are simply being priced out. How much of the workforce can be laid off, and in essence written off and never expected to meaningfully consume ever again? It will be interesting to see how many businesses fail due to lack of consumers as opposed to consumers becoming destitute. It's certainly a grim situation and very cruel to the hard working folks that will lose their jobs and be unable to afford the basic necessities to live. e: and many, many people in this country (like me) are only one missed paycheck or at best a few months of missed wages from destitution palindrome has issued a correction as of 11:04 on Mar 17, 2023 |
# ? Mar 17, 2023 10:58 |
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palindrome posted:Personally I am no longer convinced that the majority of workers getting wages and spending them on goods and services is a vital part of the economy. Dollar Generals and McDonalds in extremely rural / poor zip codes are still insanely profitable. just hovering up cash left and right. my wife's cousin in rural Arkansas donates plasma as often as possible to afford groceries without having to hit up the food bank
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# ? Mar 17, 2023 11:05 |
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thechosenone posted:The other option is right there. not really, the closest thing i can think of was the soviet union being described as reverse colonialism in that, instead of extracting resources from the satellite nations to take back to the homeland, resources were extracted from the homeland to increase productive output of the satellite nations, build factories, etc. This is what caused major russian cities to effectively give the appearance of stagnating for decades.
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# ? Mar 17, 2023 11:10 |
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Minecraft Holmes posted:america is the second largest manufacturer in the world, china only overtook us in 2010 my friend's wife works for a company that manufactures nails. they buy spools of wire from China and do just enough processing on it to make it not say Made in China.
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# ? Mar 17, 2023 11:21 |
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cool av posted:but lookat this fucker right here: good, all banks should be as consolidated as possible so when the time comes it becomes easier to nationalize them
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# ? Mar 17, 2023 11:28 |
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RealityWarCriminal posted:my friend's wife works for a company that manufactures nails. they buy spools of wire from China and do just enough processing on it to make it not say Made in China. Proudly made in (your country name here). Then in much smaller size 4 font underneath: From local and imported ingredients. Hey the cardboard packaging counts as local right? Just rebox it, bam.
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# ? Mar 17, 2023 11:44 |
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# ? May 25, 2024 12:48 |
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"without double counting the intermediate goods and services used up to produce them"
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# ? Mar 17, 2023 11:46 |