[Doomsday Economics] your economic system is a piece of shit

The Something Awful Forums > Discussion > C-SPAM > [Doomsday Economics] your economic system is a piece of shit

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(Thread IKs: skooma512)

Pepe Silvia Browne: Jan 1, 2007

Justin Tyme posted:

going up to my landlord after 30 years demanding the deed to my apartment

makes sense to me

# ? Apr 25, 2023 18:29

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# ? Jun 8, 2024 00:37

PostNouveau: Sep 3, 2011; VY till I die; Grimey Drawer

Justin Tyme posted:

going up to my landlord after 30 years demanding the deed to my apartment

Yes

# ? Apr 25, 2023 18:33

JamesKPolk: Apr 9, 2009

https://twitter.com/DeItaone/status/1650915211841355779

# ? Apr 25, 2023 18:34

euphronius: Feb 18, 2009

might be time for a Second Republic Bank

# ? Apr 25, 2023 18:34

euphronius: Feb 18, 2009

median rent is $408?

hmmmn

edit
just for the sunbelt

# ? Apr 25, 2023 18:35

Marx Headroom: May 10, 2007; AT LAST! A show with nonono ~~commercials~~!; Fallen Rib

San Fran rental rates -0.08% Sunbelt rates +27%

Bloomberg reports monthly rents beginning to fall!!!!!!!

# ? Apr 25, 2023 18:38

SKULL.GIF: Jan 20, 2017

euphronius posted:

median rent is $408?

hmmmn

edit
just for the sunbelt

$408 higher than previously, not $408. Which is kinda crazy. That's $1103 to $1511 in four years.

# ? Apr 25, 2023 18:39

HallelujahLee: May 3, 2009

Marx Headroom posted:

San Fran rental rates -0.08% Sunbelt rates +27%

Bloomberg reports monthly rents beginning to fall!!!!!!!

# ? Apr 25, 2023 18:46

thalweg: Aug 26, 2019

fits my needs posted:

https://twitter.com/CNBC/status/1650848010270658561?s=20

lmao this is so stupid

The Article posted:

There�s irony in the timing of the Bolt getting axed. It comes amid record production and sales of the vehicle for mass-market consumers, which was GM�s initial goal.
...But Bolt sales never caught on as well as many executives hoped, as EV sales overall remained minuscule outside of Tesla

lol ok so which is it

# ? Apr 25, 2023 18:54

Orvin: Sep 9, 2006

SKULL.GIF posted:

First Republic Bank -44% and halted multiple times off statements from Fitch credit agency.

Broader market has dumped -1.25% with most of that red as a reaction to FRC news.

�zerohedge article� posted:

The report echoes what we said, namely that any sales would help reduce the bank�s asset-liability mismatch, and furthermore, also notes that "potential buyers, including large US banks, could potentially receive warrants or preferred equity as an incentive to buy assets above their market value."

Ah yes, the market value of said loans - the one disconnect for all those claiming that this is an idiosyncratic FRC crisis, not a systemic one (because heaven forbid other banks are mismarking trillions in loans well above market).

The reality is that a potential buyer with a healthy balance sheet wouldn't even need a sweetener: all they need is the ability to weather the current downturn, and then sell the RE-backed loans during the next housing upturn (courtesy of the Fed's ZIRP), at which point all purchased loans will be well in the money.

Seems like a bad sign for banks. Like maybe they are all on the same shaky foundation of loans.

# ? Apr 25, 2023 18:54

Zodium: Jun 19, 2004

Centrist Committee posted:

yah but they just managed to extend the clock by a century. the rest of the world, excluding a few us vassal states, has already begun the transition to socialism. all the underlying contradictions of imperialism are still there, as demonstrated by this thread, wherein we all sense how the system is unraveling

that's right.

# ? Apr 25, 2023 18:56

JamesKPolk: Apr 9, 2009

Orvin posted:

Seems like a bad sign for banks. Like maybe they are all on the same shaky foundation of loans.

I wonder if theres an imminent banking crisis or contagion

# ? Apr 25, 2023 18:57

Rectal Death Adept: Jun 20, 2018; by Fluffdaddy

Orvin posted:

Seems like a bad sign for banks. Like maybe they are all on the same shaky foundation of loans.

Why do you hate freedom?

# ? Apr 25, 2023 19:03

Archduke Frantz Fanon: Sep 7, 2004

Orvin posted:

Seems like a bad sign for banks. Like maybe they are all on the same shaky foundation of loans.

we are just returning to how america was meant to be: filled with chaos caused by constant bank failures

# ? Apr 25, 2023 19:05

Fozzy The Bear: Dec 11, 1999; Nothing much, watching the game, drinking a bud

Pittsburgh Fentanyl Cloud posted:

lol

Are you lol'ing because that price is high? or because its low? That's two meals.

Crispy chicken: 530
Med Fries: 320
Med coke: 210
1060

Smoke BLT: 990
Fries: 320
Med coke: 210
1520

2580 calories for $21.57

# ? Apr 25, 2023 19:07

The Chad Jihad: Feb 24, 2007

gradenko_2000 posted:

I've been saying "wow my phone is getting a little long in the tooth I should replace it" since 2021 and I never do because it just keeps on trucking

# ? Apr 25, 2023 19:13

Pittsburgh Fentanyl Cloud: Apr 7, 2003

I'm lolling because it's fuckin' McDonald's, which used to mean "no frills but cheap."

By the time you're calculating exactly how many calories you're getting for your $21 you've missed the boat.

# ? Apr 25, 2023 19:13

Orvin: Sep 9, 2006

Archduke Frantz Fanon posted:

we are just returning to how america was meant to be: filled with chaos caused by constant bank failures

So what happens when the special bank only protection system doesn�t actually protect the medium and larger banks from imploding? Does the money hose get turned back on? Do the banks compete to get a chance to drink from the fire hose?

https://www.youtube.com/watch?v=pgPgsvxxxKE

# ? Apr 25, 2023 19:14

Teabag Dome Scandal: Mar 19, 2002

JamesKPolk posted:

https://twitter.com/DeItaone/status/1650915211841355779

When I bought my house last year we had a mobile notary come to the house for the signing and they made some off hand comment on how many houses in Jacksonville they were doing closings on. We're in the PNW.

# ? Apr 25, 2023 19:15

Bar Ran Dun: Jan 22, 2006

thalweg posted:

lmao this is so stupid

lol ok so which is it

GM is going to make everything they make EV.

# ? Apr 25, 2023 19:17

skooma512: Feb 8, 2012; You couldn't grok my race car, but you dug the roadside blur.

Pittsburgh Fentanyl Cloud posted:

yeah, that's what boggles me the most, lithium batteries are one of the biggest drivers behind making portable electronics with long lives

if we start sticking that poo poo in cars by the ton and building 70m of those cars every year on a global scale, that's really going to gently caress up the mobile electronics market

And then when the batteries wear out in 5-10 years, do it all over again! sUstAnaBull

effishunt allocation of ressources

Pittsburgh Fentanyl Cloud posted:

As has been pointed out repeatedly here by multiple posters, American businesses are just straight up abandoning the bottom 80% of consumers to focus solely on the whales. Not sure how that's going to work out for transportation in an environment where nobody's allowed to expand public transit and nobody's allowed to import cheaper Chinese/Indian market cars.

Same poo poo with housing. Nothing new is being built for normal income people and the "just buy an old house and fix it up!" excuse is meaningless when the old houses are A> being bought up by investors and rented until they fall into the ground, and B> contractors to come fix your hosed up old house no longer exist. I had to go on a six month waiting list to have a 7'x24' rubber roof installed.

At least this has been a great opportunity to radicalize my partner and throw around words like plutonomy.

Orvin posted:

Cars are the crimes cheat code. Hit pedestrians or cyclists and just sit in your car until the cops show up. They will eventually let you go with little or no repercussions (depending on skin tone). Seems like there are daily reports of someone getting run over in the city of Chicago, and the driver doesn�t even get a ticket.

Yup, it's a freebie. You can also steal bikes all you want and nobody can or will stop you.

# ? Apr 25, 2023 19:25

thalweg: Aug 26, 2019

Bar Ran Dun posted:

GM is going to make everything they make EV.

cool, maybe "everything they make" should include a small affordable car

# ? Apr 25, 2023 19:27

punished milkman: Dec 5, 2018; would have won

what�s the most calorically efficient fast food chain now? burger king?

# ? Apr 25, 2023 19:28

Maed: Aug 23, 2006

punished milkman posted:

what�s the most calorically efficient fast food chain now? burger king?

easily taco bell and you can even go vegetarian there

# ? Apr 25, 2023 19:30

HallelujahLee: May 3, 2009

ill stick to eating home-made sandwiches over paying $20 for some random fast food garbage at this point

# ? Apr 25, 2023 19:34

Bar Ran Dun: Jan 22, 2006

thalweg posted:

cool, maybe "everything they make" should include a small affordable car

it won�t.

but all the other automakers are going to do the same thing so hopefully one of them does?

(of course they won�t)

# ? Apr 25, 2023 19:35

RealityWarCriminal: Aug 10, 2016

the money hose will definitely be turned back on. every alternative is worse.

# ? Apr 25, 2023 19:35

skooma512: Feb 8, 2012; You couldn't grok my race car, but you dug the roadside blur.

I like how the only activity to do in America is stuff your face or drink, and that's tripled in price. Everyone's just cool with those things and instead let's freak out about trans people.

# ? Apr 25, 2023 19:36

Xaris: Jul 25, 2006; Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

punished milkman posted:

what�s the most calorically efficient fast food chain now? burger king?

in n out double double + animal style fries + with a milkshake is like 4000 calories for $7

# ? Apr 25, 2023 19:36

RealityWarCriminal: Aug 10, 2016

we discovered an economics glitch that tech services could sell digital products without real world input materials and we've been addicted to infinite profit margins ever since

# ? Apr 25, 2023 19:37

HallelujahLee: May 3, 2009

Xaris posted:

in n out double double + animal style fries + with a milkshake is like 4000 calories for $7

sounds legit disgusting and prob a good way to kill yourself within a year prob

# ? Apr 25, 2023 19:37

Orvin: Sep 9, 2006

thalweg posted:

cool, maybe "everything they make" should include a small affordable car

That�s genius, add $20k to every EV Hummer and Silverado, and they can add a mini runabout the docks into the bed of the monstrosity. So that when you have to park way the hell far away to fit your tank somewhere, you then drive your smaller vehicle up to the normal sized spaces at Applebees. No more walking for anyone.

# ? Apr 25, 2023 19:38

limp dick calvin: Sep 1, 2006; Strepitoso. Vedete? Una meraviglia.

HallelujahLee posted:

sounds legit disgusting and prob a good way to kill yourself within a year prob

don�t mind if I do

# ? Apr 25, 2023 19:38

punished milkman: Dec 5, 2018; would have won

HallelujahLee posted:

sounds legit disgusting and prob a good way to kill yourself within a year prob

sounds great to me

# ? Apr 25, 2023 19:38

Pittsburgh Fentanyl Cloud: Apr 7, 2003

skooma512 posted:

I like how the only activity to do in America is stuff your face or drink, and that's tripled in price. Everyone's just cool with those things and instead let's freak out about trans people.

I gave up on talking about this on local social media when I suggested going to a park or other public space instead of sitting at a restaurant and some guy accused me of going to parks to creep on children

The end game for capitalism is to own even the most basic human experience and rent it back to you and we're at the point now where basic human interaction isn't valid unless you're doing it on a paid basis on commercial real estate.

# ? Apr 25, 2023 19:39

HallelujahLee: May 3, 2009

a perfect goon meal

# ? Apr 25, 2023 19:39

Xaris: Jul 25, 2006; Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

HallelujahLee posted:

sounds legit disgusting and prob a good way to kill yourself within a year prob

elitist bitch go back to ur $25 sweetgreens salads. the proles are having an adult conversation, about the cheapest and efficient way to shuffle off this retched mortal coil :twisted:

# ? Apr 25, 2023 19:40

Zodium: Jun 19, 2004

RealityWarCriminal posted:

we discovered an economics glitch that tech services could sell digital products without real world input materials and we've been addicted to infinite profit margins ever since

snake discovers that if it simply eats its own tail, it'll have infinite food.

# ? Apr 25, 2023 19:40

SKULL.GIF: Jan 20, 2017

https://www.ft.com/content/32439fdf-3215-4e9a-91fb-eb6b3e821451

quote:

Sharp sell-off in First Republic shares causes alarm in Washington

Shares of First Republic continued to plunge on Tuesday as regulators and Wall Street financiers scrambled to come up with a plan to stabilise the ailing bank.

The California-based lender�s stock price, which is down by more than 90 per cent this year, fell by a further 40 per cent on Tuesday, a day after it revealed its customers had withdrawn $100bn of deposits during last month�s turmoil.

First Republic on Monday said it was pursuing �strategic options,� but multiple people briefed on the situation said it was struggling to come up with a viable solution, such as a sale of all or part of the bank.

The people said that the bank was in touch with the US government, which is on high alert following the failure of Silicon Valley Bank and Signature Bank last month.

They said the leading options are for some of the large US banks that recently deposited $30bn into First Republic to rescue the lender, or for the Federal Deposit Insurance Corporation to take control of the institution and offer a government guarantee for all deposits, as it did with SVB.

Officials from the White House, the Federal Reserve and US Treasury have held talks with First Republic in recent days, the people added, as the Biden administration becomes increasingly concerned that the bank is running out of time to reassure depositors and investors.

The Treasury declined to comment.

One of the people said that the government is not concerned about contagion beyond First Republic. Despite the sharp slide in First Republic�s shares on Tuesday, the KBW regional bank index was down less then 4 per cent. That suggests investors are also more relaxed for now than they were when SVB collapsed and sparked a sector-wide selloff.

Shares in PacWest, which is due to report after the market closes, were down 7 per cent in mid-afternoon trading in New York. Like SVB and First Republic, the Los Angeles-based bank has strong links to the tech industry

The sell-off in First Republic�s stock followed a poorly-received earnings release and investor call on Monday evening, during which executives refused to take questions from analysts and withdrew financial guidance for the rest of the year.

First Republic has been hunting for buyers for parts of its business for weeks but has struggled to drum up enthusiasm, with potential acquirers citing concerns over taking on too much risk, one of the people said.

Some private equity firms have expressed an interest in acquiring some of First Republic�s assets but the US government is wary about the optics of buyout firms benefiting from the recent bout of banking turmoil.

# ? Apr 25, 2023 19:41

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# ? Jun 8, 2024 00:37

HallelujahLee: May 3, 2009

Xaris posted:

elitist bitch go back to ur $25 sweetgreens salads. the proles are having an adult conversation, about the cheapest and efficient way to shuffle off this retched mortal coil

how rude im sticking to tried and test goon method of home-made low-quality sandwiches

# ? Apr 25, 2023 19:42

The Something Awful Forums > Discussion > C-SPAM > [Doomsday Economics] your economic system is a piece of shit

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