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skooma512)
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skooma512 posted:That's about what I was paying 12 years ago. Wow, that's some serious rear end in a top hat poo poo.
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Apr 26, 2023 06:41
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comedyblissoption posted:fair enough, but i wonder with the current stablecoin legislation push if there's still a corporate movement somewhere to bring back company scrip like w/ facebook's libra i think even if there were it would probably face similar obstacles and pushback to meta/fb trying to do it, namely that governmental central banks really don't want that kind of thing to exist at all. they basically barely tolerate cryptocurrencies because there isn't effectively much they can do to stop people from using them entirely if someone is determined to libra happened around the same time people were getting fed up with facebook's moderation and privacy issues in general so it was probably a pretty safe target but i don't think they'd hesitate to take down something similar from some other massive market cap tech major, especially if the other parts of their business can be threatened legally. like, i don't think google or microsoft would risk it if it meant they might not be able to market their other products in the us or eu but i don't think stablecoins don't necessarily need to be garbage either. they mostly all are though, we haven't seen a "good" implementation yet. afaik libra didn't really offer anything very different from the others beyond it not being an obvious ponzi, but that's probably better than something like tether where the "proof of reserves" amounts to basically "just trust me bro"
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Apr 26, 2023 07:02
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Harik posted:this is exceptionally stupid because the income gap between the haves and the have nots has never been remotely this high in all of history, but sure, it's just business as usual. not terribly interested in rehashing this. but do you genuinely believe that USA in 2023 has the worst inequality in All of History? like worse than Apartheid South Africa? Worse than the US during Chattel Slavery? Ireland in 1848? Even going by Gini coefficient, the US isn't even at the top of the list. can you point to some measurement that lead you to hold your believe that right now is the Worst Ever? I'm not saying things are good, but rather we have so, so much further to fall. There's so much more room for conditions to deteriorate. and I'm suggesting maybe Plutonomy isn't a coherent mode of historical material analysis, or even an accurate label. it was used by Citi to say that Luxury Brands were a good investment in 2005, which was correct. But there's no academic body of literature surrounding this concept in any social science, and we have another body of literature that has a lot to say about how contradictions arise and are "managed" content: Binance backed out of their bailout / acquisition of Voyager. could be very funny if it implodes https://twitter.com/crypto/status/1651063335733940224
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Apr 26, 2023 08:45
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dick wolff likes to point out you have to go back to the ancient pharoahs of egypt to perhaps see a comparable level of inequality, who presumably had slaves contrary to popular belief, under a marxist analysis, slaves were paid otherwise they could not reproduce themselves
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Apr 26, 2023 08:50
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comedyblissoption posted:dick wolff likes to point out you have to go back to the ancient pharoahs of egypt to perhaps see a comparable level of inequality, who presumably had slaves I don't think an orthodox Marxist would equate the distribution of use-values to income per se, especially in a pre-modern, non-capitalisy society. this line of thinking is what leads to trying to measure the GDP per capita of hunter gatherers but it's fair to point out that in some ways, material conditions of slavery weren't necessarily worse in all ways than wage slavery, as was in the Frederic Douglas quote posted a couple days ago
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Apr 26, 2023 09:00
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Babylonian style slavery seems a lot like the modern internship system.
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Apr 26, 2023 09:06
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one weird trick to reduce healthcare spending https://twitter.com/bcchildrenshosp/status/1650535122943311872
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Apr 26, 2023 09:39
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 https://twitter.com/yanisvaroufakis/status/1649665442556813313
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Apr 26, 2023 09:47
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Looking forward to more banks failing today, Inshallah
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Apr 26, 2023 10:03
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The whale economy seems absurd and unsustainable because it is, but it's just what happens when everyone in charge is addicted to Bigger Numbers that get bigger every day and has no idea how society works. The idea of things running out is literally inconceivable to them because the entire world is built to make sure they never experience it.
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Apr 26, 2023 10:32
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forkboy84 posted:Looking forward to more banks failing today, Inshallah  BLOOD
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Apr 26, 2023 10:53
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 https://twitter.com/lines_down/status/1650965136037822465
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Apr 26, 2023 11:18
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China wants to take deflation home
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Apr 26, 2023 11:33
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forkboy84 posted:Looking forward to more banks failing today, Inshallah banks can only be failed
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Apr 26, 2023 12:04
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lol
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Apr 26, 2023 12:09
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https://twitter.com/jasonschreier/status/1651181545409982466?t=luziBJZciA366h6EpBKGyg&s=19
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Apr 26, 2023 12:10
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Ghost Leviathan posted:The whale economy seems absurd and unsustainable because it is, but it's just what happens when everyone in charge is addicted to Bigger Numbers that get bigger every day and has no idea how society works. The idea of things running out is literally inconceivable to them because the entire world is built to make sure they never experience it. remind me again what makes a whale economy unsustainable in our current economic structure? Just mass social upheaval from the reduced amount of breads and games down the ranks? (legit asking because im dumb)
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Apr 26, 2023 12:10
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Mr Hootington posted:https://twitter.com/jasonschreier/status/1651181545409982466?t=luziBJZciA366h6EpBKGyg&s=19 what the gently caress is it with the UK's antitrust group? they also blocked Nvidia buying ARM everything else about the UK government is an oligarch-controlled monstrosity that loves eating poor people but these guys are apparently still doing their job???
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Apr 26, 2023 12:22
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https://twitter.com/thehill/status/1651155683897647107 It would be funny if Yellen's "We hit the debt limit and will be out of cash sometime in June" warning was based on overly optimistic tax projections and we just run out of money before all of the hotdogging can start in the house and senate We are just so corrupt and gridlocked that we couldn't even tell it was happening Rectal Death Adept has issued a correction as of 12:27 on Apr 26, 2023 |
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Apr 26, 2023 12:24
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Popoto posted:remind me again what makes a whale economy unsustainable in our current economic structure? Just mass social upheaval from the reduced amount of breads and games down the ranks? (legit asking because im dumb) you see when you call it the Whale Economy instead of regular M-C-M' capitalism it means inequalities have reached a special historical inflection point whereby the system will devour itself and usher in a new era of social relations
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Apr 26, 2023 12:27
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a whale economy would work if you guaranteed some tolerable level of destitution for the people that actually run it we kind of just throw the poor off of a cliff because it costs money in the short term to keep them alive
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Apr 26, 2023 12:31
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Reminder that the US govt has taken over First Republic or at least shepherded its being bought up or merged to stave off bad decisions three times in 15 years.
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Apr 26, 2023 12:35
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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 Ghost Leviathan posted:The whale economy seems absurd and unsustainable because it is, but it's just what happens when everyone in charge is addicted to Bigger Numbers that get bigger every day and has no idea how society works. The idea of things running out is literally inconceivable to them because the entire world is built to make sure they never experience it. Popoto posted:remind me again what makes a whale economy unsustainable in our current economic structure? Just mass social upheaval from the reduced amount of breads and games down the ranks? (legit asking because im dumb) Because they are totally divorced from, and don't even really understand, social relations, they're way more vulnerable to it. There's no pretence of nobility or serving society, and so why wouldn't you put their head on a pike if push came to shove? They're not even part of society, they deny it exists, and so when social breakdown comes, their number comes up. Frosted Flake has issued a correction as of 12:44 on Apr 26, 2023 |
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Apr 26, 2023 12:41
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https://www.cnbc.com/2023/04/26/first-republic-rescue-pitch-help-now-or-pay-more-later-when-it-fails.html FRC is using a combination of begging and bullying other banks as a last-ditch attempt to stay alive
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Apr 26, 2023 12:43
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Wasn’t the banking crisis over last week ?
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Apr 26, 2023 12:44
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webcams for christ posted:you see when you call it the Whale Economy instead of regular M-C-M' capitalism it means inequalities have reached a special historical inflection point whereby the system will devour itself and usher in a new era of social relations it just means that because they are losing control of the periphery, the western bourgeoisie must increasingly rely on extracting value from the proletariat at home by reshoring of production and vertical demand destruction.
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Apr 26, 2023 12:58
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what is vertical demand destruction
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Apr 26, 2023 13:00
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euphronius posted:Wasn’t the banking crisis over last week ? this is a new and completely different banking crisis
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Apr 26, 2023 13:01
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euphronius posted:what is vertical demand destruction making consumption increasingly unaffordable for the bottom so the top can consume more, as opposed to making consumption increasingly unaffordable in the periphery and semi-periphery so the core can consume more.
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Apr 26, 2023 13:03
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Zodium posted:it just means that because they are losing control of the periphery, the western bourgeoisie must increasingly rely on extracting value from the proletariat at home by reshoring of production and vertical demand destruction. this is a great distinction that deserves a better name imo, also encompasses the panic from IMF and WTO about China's international lending practices
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Apr 26, 2023 13:06
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gradenko_2000 posted:what the gently caress is it with the UK's antitrust group? they also blocked Nvidia buying ARM I'm assuming it's a nationalism thing: "ah well, this is the only muscle we have left to flex"
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Apr 26, 2023 13:07
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euphronius posted:Wasn’t the banking crisis over last week ? sorry, all America can do anymore is pump out lazy sequels
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Apr 26, 2023 13:10
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I was assured that bank failures would no longer happen
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Apr 26, 2023 13:13
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Koirhor posted:I was assured that bank failures would no longer happen turns out no one wants to bank anymore 
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Apr 26, 2023 13:15
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banks: someone who is good at finance help us our balance sheets are dying customers: pay more deposit interest banks: no
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Apr 26, 2023 13:17
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webcams for christ posted:this is a great distinction that deserves a better name imo, also encompasses the panic from IMF and WTO about China's international lending practices i liked power word jeb's catabolic capitalism for this collapse phase of cybernetic capitalism. plutonomy and whale economics etc. are basically just words for strategies the capitalist class are working with to maintain stability of the class structure while they navigate towards fascism.
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Apr 26, 2023 13:21
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the banking crisis is over 5 minutes later the banking crisis is back
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Apr 26, 2023 13:23
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Zodium posted:i liked power word jeb's catabolic capitalism for this collapse phase of cybernetic capitalism. plutonomy and whale economics etc. are basically just words for strategies the capitalist class are working with to maintain stability of the class structure while they navigate towards fascism. catabolic capitalism is a great candidate, and yeah its helpful to distinguish capitalist strategy vs material analysis
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Apr 26, 2023 13:25
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Lpzie posted:tear down the cities and go back to farmlands. literally no other option for america at this point... I remember when these hops fields were all tract homes
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Apr 26, 2023 13:39
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its time for the us to adopt the juche idea
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Apr 26, 2023 13:40
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