Post AKZ56bKTzCEHX4MjVQ by Sevenatenine@kiwifarms.cc
(DIR) More posts by Sevenatenine@kiwifarms.cc
(DIR) Post #AKYxsWUWTgHCnIOyga by crunklord420@kiwifarms.cc
2022-06-17T00:35:52.415937Z
1 likes, 3 repeats
stochs on monthly S&P500 haven't been this bad since 2008.
(DIR) Post #AKYxvx6nyGriDPwXmy by Soundesignrec@kiwifarms.cc
2022-06-17T00:36:31.654764Z
0 likes, 0 repeats
@crunklord420 stonks are gay crunk
(DIR) Post #AKYy2x2YclLK1vIHQG by crunklord420@kiwifarms.cc
2022-06-17T00:37:47.698665Z
7 likes, 0 repeats
@Soundesignrec stonks are basically everything because we live in a fake economy where nothing is real. Stonks represent the fake and gay reality we live in. Stonks go down = everyone dies (seriously)
(DIR) Post #AKYyJJyl6eOpo4K4v2 by Telvannichad@kiwifarms.cc
2022-06-17T00:40:46.225048Z
1 likes, 1 repeats
@crunklord420 @Soundesignrec I wan to short :blobcatfunny:
(DIR) Post #AKYytjvI7lI2hC4C0G by sj_zero@social.fbxl.net
2022-06-17T00:47:21.178197Z
0 likes, 0 repeats
Honestly, this was plainly obvious. the stock market has been way higher than pre-covid levels despite the largest global supply shock possibly ever, and I think even now it's only just barely back to pre-covid levels. There's no way anyone can argue that companies as a whole were better off after covid than before anyone ever heard the word.
(DIR) Post #AKYzO8bytgsTxAWt6m by crunklord420@kiwifarms.cc
2022-06-17T00:52:49.878766Z
4 likes, 0 repeats
@sj_zero yes but also stonks only go up because that's the way our fake and gay economy is designed. When stonks go down, it's not because of fundamentals, but because our fake and gay reality is collapsing. Modern Monetary Theory, basically.
(DIR) Post #AKYzUW8EMYNOdZeiiO by Hibou@kiwifarms.cc
2022-06-17T00:53:59.792991Z
2 likes, 0 repeats
@crunklord420 @Soundesignrec Let's go! I wanted to live long enough to see everything burn!
(DIR) Post #AKYzYFYRwDbaNmhQ9Y by Soundesignrec@kiwifarms.cc
2022-06-17T00:54:40.133013Z
0 likes, 0 repeats
@Telvannichad @crunklord420 I want to tall :comfyevil:
(DIR) Post #AKYzqH78sW3eQqWOo4 by Sevenatenine@kiwifarms.cc
2022-06-17T00:57:55.786845Z
0 likes, 0 repeats
@crunklord420 @sj_zero please elaborate. I want to hear your thoughts on MMT. Warning, I am an extremely bitter refugee from the resource extraction sector.Reserve studies? We didn't actually read those...
(DIR) Post #AKZ0Vq3LshEafLZGAy by crunklord420@kiwifarms.cc
2022-06-17T01:05:26.039790Z
4 likes, 0 repeats
@Sevenatenine @sj_zero MMT economists are insane people who are chasing abstract numbers without regard for anything else, or even really what those numbers represent. GDP, CPI, these are all terrible measurements and everyone basically agrees on that, but they still chase it. Fuck fundamentals, fuck sustainability, fuck reality. Stonks go up, period. It looks like we're on the road to a perpetual boom and bust cycle until we finally hit the big bust and the house of cards collapses in on itself.I have a gut feeling that this is all just to pay for boomers and once they're all dead everything will fucking implodes hard. The boomers fucking ate everything. They stuffed their fucking mouths with unprecedented wealth and proprietary and will take everything down with them just to pay for their retirements.
(DIR) Post #AKZ0cHiFxK26Bkm3pQ by sj_zero@social.fbxl.net
2022-06-17T01:06:36.284657Z
0 likes, 0 repeats
The covid pandemic certainly proved to me that a lot of people don't realize you can't eat money.
(DIR) Post #AKZ0fPXJKCY5Jz93hY by Sevenatenine@kiwifarms.cc
2022-06-17T01:07:10.454388Z
1 likes, 0 repeats
@crunklord420 @sj_zero I think there's evidence that's more than a gut feeling. The real estate market is collapsing in my country. I guess I aggressively agree with this take is what I'm saying.
(DIR) Post #AKZ0iH1DRwdllzUwO8 by Sevenatenine@kiwifarms.cc
2022-06-17T01:07:41.522966Z
2 likes, 0 repeats
@sj_zero @crunklord420 or that you can infinitely swap out competent technical workers. Turns out they are a finite commodity.
(DIR) Post #AKZ0pQgJvBk7ll8WSe by sj_zero@social.fbxl.net
2022-06-17T01:08:59.118146Z
1 likes, 0 repeats
It's sort of a meme for me, the phrase "Labor is not a fungible commodity". If you are just doing busiwork it might look like it is, but when you are trying to do difficult stuff, you need people who are good at what you need done, and not everyone is the same even with similar backgrounds.
(DIR) Post #AKZ17EQuCTOEzePnhw by PunishedD@kiwifarms.cc
2022-06-17T01:12:12.030066Z
0 likes, 0 repeats
@crunklord420 @sj_zero Stonks were mostly automated by 2007, and the process was complete around 2009. Reality hasn't mattered in 15 years, only the interpretation of data by algorithms plus a meta-interpretation of other algorithms' predictive power. (That forms a hell of a feedback loop that blew up a few times, but it's "safe" now because they rigged the markets themselves so it can't run out of bounds.)
(DIR) Post #AKZ1RVnjKrXEeRlHIe by meowski@fluf.club
2022-06-17T01:15:51.001582Z
2 likes, 0 repeats
@crunklord420 @Sevenatenine @sj_zero you can hardly blame this on boomers as a whole when the world's 8 richest people have more wealth than the poorest half. it's unrestricted money printing by the international usury bankers that control the money supply that is the real problem. that, and the fact that our governments are full of compromised pedophiles who are being blackmailed, stealing elections, starting wars we can't afford, and so on.sure a lot of boomers are lazy and selfish, they go along with the system and keep their nose down, they support the current thing or whatever. they sold us out in many ways. but this has been in process even before the boomer generation. they just kicked the can down the road
(DIR) Post #AKZ2Z45uKgBqzVQgHw by PunishedD@kiwifarms.cc
2022-06-17T01:28:25.877766Z
1 likes, 0 repeats
@Sevenatenine @sj_zero @crunklord420 Fun fact: the bad assumption that blew up the Black-Scholes Model in 2008 was assuming you could swap out your positions with the "good" ones as needed for hedging. Turns out there is not an infinite number of assets to buy, especially when everyone else has the same idea and is trying to buy or sell the exact same things.
(DIR) Post #AKZ2sPuNS7zC9FGPuy by Telvannichad@kiwifarms.cc
2022-06-17T01:31:55.809170Z
0 likes, 0 repeats
@crunklord420 @Sevenatenine @sj_zero Isn't the majority of land owned by them for decades now?
(DIR) Post #AKZ3QsMw8w0MGN3Nz6 by sj_zero@social.fbxl.net
2022-06-17T01:38:09.401031Z
1 likes, 0 repeats
Looks like the majority of land is federally owned, which is sort of crazy when you think about it. The top 50 land owners own 1.5% of the land, and most of them are rancher families.Sort of crazy to think about, but I always have to point out that any arguments between private people, even the richest private people, are trivial compared to the overarching power of the modern state.
(DIR) Post #AKZ44bSmPx9NPjjKXg by Carp@kiwifarms.cc
2022-06-17T01:44:24.324682Z
1 likes, 1 repeats
@crunklord420 @Sevenatenine @sj_zero mmt is so fascinating because it is so transparently the final stage of our retarded economic model. You can almost perfectly predict the trajectory from the invention of paper money and the promissory notes of the country banks of rural england, to fractional reserve banking, increasingly complex financial instruments, to governments finally just saying "Sure we don't have the money but what if we just pretend we have it, just to keep all the niggers working."Even the concept of abandoning manufacturing to become a "post industrial" economy is pure idiocy. Its actually astounding that so many thousands of people studied politics and economics and somehow continue to perpetuate this completely brain dead, childish fantasy.
(DIR) Post #AKZ46dBmyIQTLWkXYG by Sevenatenine@kiwifarms.cc
2022-06-17T01:45:42.550041Z
0 likes, 0 repeats
@Carp @crunklord420 @sj_zero I'm mostly sick of finance/econ bros acting condescending toward me about "economic theory."Really. It's not magic. It's been bullshit for a long time. You have no right to be so goddamn smug.
(DIR) Post #AKZ4U5tKQJC91cIqHY by sj_zero@social.fbxl.net
2022-06-17T01:49:56.522541Z
0 likes, 0 repeats
I find a lot of them are huffing farts. A lot of stuff they claim after the fact is impossible to predict turns out to be basically predictable if you walk down out of the ivory tower and start asking simple grounded questions. I have a favorite story I like to come back to that's about econ in a roudabout way. A change to the Homestead act said that in order to Homestead you did not need access to groundwater. Previously you needed access to groundwater. At the same time, a temporary change in climate occurred so there was a lot more rain over the Prairie. As a result, for a few years people thought that perhaps the climate had changed permanently so lots of money ended up flowing into these new farms. Also at the same time, the Federal reserve had been created which provided a lender of last resort and appeared to reduce the risk of Bank runs. Because of this, banks were more than happy to take what looked like a low risk and lend a whole lot of money to Farmers starting up their own farms using the homestead act.What happened next is the climate reverted to normal, and suddenly all of this Prairie was trying to grow thirsty crops on planes that did not get enough precipitation to support those crops. The resulting environmental catastrophe was called the dust bowl, and the farm failures led to bank failures which led to the great Depression."Are you absolutely sure the weather hasn't just been wetter for a few years?" is a pretty basic question, but people ignored it and drove forward.
(DIR) Post #AKZ4ed8pegb72nZwbg by crunklord420@kiwifarms.cc
2022-06-17T01:51:50.125446Z
2 likes, 0 repeats
@Sevenatenine @Carp @sj_zero economics isn't a science, it's in that category of pseudoscience called "social sciences". It's entirely fictional.
(DIR) Post #AKZ4ehd6y3C8xrmBMG by Carp@kiwifarms.cc
2022-06-17T01:51:26.161782Z
1 likes, 0 repeats
@Sevenatenine @crunklord420 @sj_zero Yeh its really not that complicated.The thing is, they are right in a way because the system "works" in that it does something effectively, like cancer effectively reproduces cells. If you understand all that shit you can have a powerful effect on the world, but at its core it is corrupt. The magic part is that so many people buy in, primarily. One thing you learn if you do any market watching is that sentiment is the primary driver of markets. Almost all sectors of the economy are overvalued on paper.
(DIR) Post #AKZ4wwoZFXNZGupnjk by sj_zero@social.fbxl.net
2022-06-17T01:55:09.424683Z
0 likes, 0 repeats
You're not wrong, but there's a behind the scenes real forces that nail its feet to the floor.You can only have a loaf of bread that exists. You can only have a car that exists. You can only have a liter of water that exists. You can pretend all you want, but just like the trillion dollar bill hanging on my wall won't buy you a loaf of bread in zimbabwe, once reality decides you can't do that, all the fancy economic theories end.
(DIR) Post #AKZ4ykDv2Ac0ngY7A8 by Sevenatenine@kiwifarms.cc
2022-06-17T01:55:28.933787Z
0 likes, 0 repeats
@Carp @crunklord420 @sj_zero it's a resource distribution system and it's stupid.Change my mind.
(DIR) Post #AKZ56bKTzCEHX4MjVQ by Sevenatenine@kiwifarms.cc
2022-06-17T01:56:54.525949Z
0 likes, 0 repeats
@sj_zero @Carp @crunklord420 getting ores to give up precious metals is really, really fucking hard. It kills a lot of humans. Somehow, HR and Accounting are paid similar salaries to the people who FIGURED OUT THE CHEMISTRY AND ENGINEERING.We should eat them. I swear to God.
(DIR) Post #AKZ56fWgNmMgY46X4q by sj_zero@social.fbxl.net
2022-06-17T01:56:54.848746Z
0 likes, 0 repeats
I can't change your mind as long as companies that don't do fuck all are worth more than dozens of companies that actually do useful stuff.Lookin' at you, Tesla. wtf
(DIR) Post #AKZ5K2o38fpmVzbbk0 by sj_zero@social.fbxl.net
2022-06-17T01:59:19.891582Z
0 likes, 0 repeats
You're speaking my language.Why are people working on spreadsheets that ultimately don't mean anything paid more than the people who could die in a cave-in every single day?
(DIR) Post #AKZ5QLpJKoAVF8CdUW by Carp@kiwifarms.cc
2022-06-17T01:57:58.127300Z
0 likes, 0 repeats
@Sevenatenine @crunklord420 @sj_zero I worry more that it is a labour distribution system. The primary thing I see in big brain econ theories is tricks to convince people to do work they otherwise would not, using fake financial reward as a carrot.
(DIR) Post #AKZ5QMQt56E57fme3s by Sevenatenine@kiwifarms.cc
2022-06-17T02:00:28.669743Z
1 likes, 0 repeats
@Carp @crunklord420 @sj_zero irrefutable evidence that I'm a hopeless idealist, despite all the bitterness...people will do the great work anyway. We can't help it. I spent the first 15 years of my "career" desperately trying to race through the administrative SHIT between me and real engineering. Grad school is like 98% full of people who just want to science. Tradespeople actually like fabricating things that people need.I HATE econ/finance/business people. They wouldn't work without manipulation...they don't understand that it's because their jobs are mostly meaningless and unnecessary.
(DIR) Post #AKZ5a692UgprVE4v68 by Sevenatenine@kiwifarms.cc
2022-06-17T02:02:14.309771Z
1 likes, 0 repeats
@sj_zero @Carp @crunklord420 wrong person to ask. I was laid off from a job by a true psychopathic Bitch Queen HR VP, while every time I went out to poke around at failing equipment my boots were VISIBLY EATEN AWAY by foul acids.
(DIR) Post #AKZ5yDm3mPLq7Apgye by TomAltihill@kiwifarms.cc
2022-06-17T02:06:23.936654Z
2 likes, 0 repeats
@Carp @Sevenatenine @crunklord420 @sj_zero But then again this system worksAs perfect as a dreamIt works for all of those record company pricksWho come to skim the cream- frank zappa
(DIR) Post #AKZ8DnYpCyotMBCJpA by Carp@kiwifarms.cc
2022-06-17T02:23:10.630647Z
0 likes, 0 repeats
@Sevenatenine @crunklord420 @sj_zero the old communist machajski identified this seperate class of people, "he argued that the Suppression of the workers by the newly established republic "showed the proletariat that its enemy was not just the owners of capital . . . but the whole mass of privileged employees of the capitalist state: lawyers, journalists, scholars." Finally, however, he realised that he had made a fundamental discovery: socialism, and particularly Marxism, represented the class interests not of the workers but of a rising new class - the intelligentsia, or, as he termed them, the "intellectual workers," who sought a profitable accommodation for themselves with the capitalist order rather than its definitive overthrow."inspired by this work, ""intellectual work becomes the special function of a particular class, which as a rule does not directly - nor, by its nature, necessarily-have an interest in capitalist exploitation: the so-called intelligentsia [Intelligenz], which makes its living from the sale of its special knowledge and talents."To some extent, the intelligentsia provided a refuge for ruined small property- owners: "A new, very numerous, and continually growing middle class is formed in this way," masking to some degree "the decline of the middle class as a whole."The end result was a significant new socio-economic formation: "in the intelligentsia a new middle class is arising, growing in part because of the requirements of the capitalist process of production, in part through the decline of small business, a middle class whose size and significance in relation to the petty bourgeoisie is steadily increasing, but which is also more and more depressed by the mounting oversupply of labour and thereby is permanently discontented." Sounds familiar :ablobthinkingfast: Fun essay : https://theanarchistlibrary.org/library/marshall-s-shatz-jan-waclaw-machajski#toc3
(DIR) Post #AKZ8Do2bQGdgqX86Eq by sj_zero@social.fbxl.net
2022-06-17T02:31:49.030265Z
0 likes, 0 repeats
It makes sense, especially since most of the pencil pushers don't have their livings derived from practical need, but often from some arbitrary legislated need from the megastate. You need powerful HR departments to keep up with powerful HR regulations. You need all kinds of middle managers to keep up with all kinds of regulations on all kinds of things. You need special accountants to deal with all kinds of regulations from top to bottom on the accounting and tax side.Not saying we don't need leaders or accountants or lawyers, but if certain structures weren't imposed upon people, I bet it wouldn't look anything like what we've got.We're so surrounded by the system, we don't realize how much of what we see is a result of the system poking things to be the way it demands.