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(Thread IKs: skooma512)
 
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err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
lol love yellen/jpow doing unprecedented poo poo

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err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
https://twitter.com/Fxhedgers/status/1635101178500624385?s=20

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Paradoxish posted:

Used car prices will never actually come down again.

Neither will housing

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
https://twitter.com/financialjuice/status/1635685414836027392

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
https://twitter.com/GavinSBaker/status/1635683191821414405?s=20

The WARN Act requires companies to notify state governments and affected individuals of plans to lay off 500 or more employees (and 50 or more employees when an employment site is shut down or when the number of layoffs make up at least one-third of the company’s workforce) at least 60 days in advance.

err has issued a correction as of 20:52 on Mar 14, 2023

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

anime was right posted:

by making this new thread i have saved the economy. yes, that's right. i am the fed and calling attention to market failure causes number to rise. doomsday economics has been a successful bailout plan.

hedgie scum

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Shear Modulus posted:

What happens if jim cramer tells people to buy the inverse cramer etf

Universe folds in on itself

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
im going to start using chatgpt for my posts

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

😡 american billionaires deserve that market share 😡

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
jpow needs to crush the homeowners next week, no mercy for the land owning class

give them a 50bps

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

holefoods posted:

how could this even be enforced? just tell all the ISPs to block the traffic and make it disappear from app stores? is there even any legal precedent aside from “because we feel like it?”

kinda like how the u.s. government told the private sector to cut ties with russia. the state can exert a lot of power when it wants to.

err has issued a correction as of 02:04 on Mar 16, 2023

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

sleep with the vicious posted:

Lol at we are going to give you 54b in emergency loans to prevent the bank from collapsing, and also no you don't have to change anything about the way you run your business that got you in your mess, and also no we won't change anything about the way we structure our business environment that got you in this mess, and also we are going to raise rates again, and so forth

Explaining the bailouts to normal people was a truly revolutionary moment for a lot of people during Occupy.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
https://twitter.com/TheStalwart/status/1636389995136323588?s=20

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
We wiped out months of QT.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

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?

to answer this, we have to first differentiate between industrial capitalism and finance capitalism.

industrial capitalism was genuinely revolutionary - reading some of the classical economists like Ricardo and Smith, you get a clear takeaway: the feudal class must go. their ability to monopolize key sectors of the economy, namely land, was causing a bottleneck that capitalists saw as hindering growth. they argued that feudalism, primarily the ability for a hereditary class to inherit unearned income, was choking the economy as it indebted the population and made them debt slaves to creditors. looking back to ancient times, even those in the palace would periodically wage war on the aristocracy as labor that had been indebted by creditors meant that they couldn't be used as labor by the king.

in a similar way, capitalists saw the feudal class as a non-rational and non-liberal part of society. as the physiocrats, the proto-capitalists, first started developing their opposition in France, it eventually led to the French Revolution in which liberals rebelled and massacred the feudal class.

historically, the industrial capitalists have opposed the financial capitalists. this is because finance capitalism is very similar to feudalism - it is designed to indebt the population by using their assets as claims of debt. industrial capitalists do not want this - they want low cost of living as it is how they can compete with other countries and societies. a country that has high healthcare costs means that they have to pay higher wages; if a government subsidizes it instead, it means that a company has to pay less wages, leading to more profit.

the situation we're in now is that finance capitalism has completely taken over and pushed out the industrialists. what marx railed against, namely the exploitation of workers, almost seems quaint - we are effectively in a neo-feudal age in which the vast majority of americans are heavily indebted and are debtors, between morgages, education loans, healthcare, auto, credit cards, etc.

within this distinction, we can now answer your question. inflation is ASSET PRICE INFLATION. this is fundamentally different from CPI inflation, so-called consumer price index. we are NOT in danger of hyperinflation, I don't know where this narrative is coming from. what has happened is that asset prices, namely housing and stocks, have been artificially inflated due to the 15 year QE campaign by the fed. last year, when millions died due to covid and there were severe shortages in restaurants, factories, warehouses, etc, labor suddenly had additional power to demand higher wages.

this demand threatened both industry AND finance. however, industrial capitalists have largely transformed into finance capitalists - the biggest example of this is silicon valley in which VCs are seen as the movers and shakers. in the past, VCs were treated with contempt - even within SVB, they were a completely separate arm until the head of VC took over SVB.

what no one expected was a literal plague killing off millions of potential workers worldwide and changing the ability of labor to demand more. as we all began realizing, we could jump from job to job and make more than we used to - restaurants were chronically understaffed and computer touchers were saying the refused to come into the office. suddenly, industrial capitalsim reared its head and allowed workers to demand higher wages in compensation. this is unacceptable, as now suddenly these high wages hit the already high (relatively speaking) wages of america - employers have to pay for healthcare, compensate cost of living, etc.

this threatened the growth of the country, literally. company owners were NOT affected by this cost of living increase - they are the creditors, not the ones being indebted. the losses they suffered from the feds rate hike increase was OFFSET BY WAGE DECREASES. this is because stocks, bonds, and housing, their main source of wealth, continued to increase despite the squeeze labor was feeling.

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.

🐐🐐🐐🐐🐐🐐

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
Deep red banks

https://twitter.com/unusual_whales/status/1636803114203500544?t=FG_XzDfgKJgnuv0BMmxGVA&s=19

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Some people got $900 mortgages, others gotta pay $2100 in rent. You can't explain it!

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

webcams for christ posted:

I still can't get over Adam Tooze's comments on CS days before Saudi Arabia's and Quatar's $3 Billion investment in October 2022

https://twitter.com/dannybuerkli/status/1637497885028745218

https://www.youtube.com/watch?v=1L8kYsXg5jQ

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
https://twitter.com/lisaabramowicz1/status/1637530212039532544

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

SKULL.GIF posted:

Parasitical scum.

Sounds about right

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

define "normal"

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

19 o'clock posted:

getting murdered even after an easy $90k down payment on a mortgage that eats 40% of my monthly gross income




edit: non-paywall source https://archive.ph/Sbvpx

Anyone out their loving mind if they are buying now.

High prices + high interest rates.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Mr Hootington posted:

The market sceams for pause

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
The Fed specifically said they would not cut rates in 2023, but the market is addicted to free money.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
the car situation is so bad, cars are so expensive now and people with low credit scores are missing payments at record levels:


https://www.axios.com/2023/03/01/low-income-households-are-falling-behind-on-car-bills

err has issued a correction as of 13:17 on Mar 20, 2023

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

HallelujahLee posted:

seems like a bad idea to buy a house right now

im continuing to pay for my landlord's mortgage like a good serf

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Homeless Friend posted:

Just shoot Chitwood in the head, and he stops being a problem. They have to find a new guy to be the problem. But shooting Chitwood in the head solves an immediate problem permanently. Just shoot Chitwood in the head and murder him. In Minecraft.

(USER WAS PUT ON PROBATION FOR THIS POST)

Thats enough to get arrested? Heard worse in this very thread.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
https://twitter.com/zerohedge/status/1638979105185226753

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
https://twitter.com/5thrule/status/1639363588287520792

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Al! posted:

they just charged like 22 people with domestic terrorism charges for attending a music festival on the other side of a park from a protest and theyre almost all having their bond denied. one guy was not even near the park, he was just eating at a taco truck and they nabbed

literally a minor plot line of the new climate speculative fiction book "the deluge" but it happened in like 2032 instead of 2023.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Al! posted:

this loving sucks

What does it mean

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Eric Cantonese posted:

According to a BBC article on Macron's watch shenanigans...

https://www.bbc.com/news/world-europe-65069823

I know watches are a "sky's the limit" thing price-wise, but that still seems expensive to me.

It's funny people are trying to correct this. Lying about the rich is good because they don't care about us.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Is this from those farmer protests that went on in the Netherlands? Seems like a different demographic from the pension protests.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
Oops

https://twitter.com/financialjuice/status/1640011409617453060?s=46&t=eipIP3Brnxp68_hpF9XuGA
https://twitter.com/deitaone/status/1640011068553527297?s=46&t=eipIP3Brnxp68_hpF9XuGA

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

manager: "find someone to cover your shift"

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
remember how longer MMOs that are active for decades need to redo/cleanse their in-game economy after an expansion release?

america is the same way. we need more gold sinks

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

bedpan posted:

I'm never going to own a home. Not unless someone else dies and leaves it to me.

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...
https://twitter.com/kobeissiletter/status/1642276961115308032?s=61

err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Mr Hootington posted:

We do.

I do what to ask how everyone thinks the thread is going? I feel it has become too "general chat" compared to the more "economics chat" it used to be. I also think people are focusing too much on "doom" and getting into a doom-spiral posting.

If anyone has any comments you can post them in reply or pm me.

Soft landing :smugdon:

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err
Apr 11, 2005

I carry my own weight no matter how heavy this shit gets...

Let them fight

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