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The Scandal of Financial Nihilism

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61–70 of 165 posts

Re: The Scandal of Financial Nihilism

#61
post #34

[dead]

Comrade, I strongly encourage you to speak to people who grew up outside of capitalism (like me, born in the USSR, in 1981) if you want to talk about intolerable lives. Capitalism gives you a chance. It is your perverse defeated attitude that prevents you from even trying. So you complain about outcomes.

You would then find this Nihilistic attitude acceptable in a non-capitalistic country?

Re: The Scandal of Financial Nihilism

#62

The funny/sad thing about this nihilism is that it's self fulfilling. You don't try and you don't get good outcomes. Meanwhile - life is working very well for people who don't think this way. Like, every house that comes up on the market is immediately snatched up by some 30/40 year old who is buying a home for his growing family. Somehow these guys figured out how to get consistently paid. Meanwhile you can be cryin…

don't confuse bad luck for lack of talent.

However, it is true that having an optimistic mentality can help you get lucky.

Re: The Scandal of Financial Nihilism

#63
Financial nihilism is a subset and derives from economic nihilism. The latter is basically the entirely agnostic stance of classical economic thinking that aims to decouple from the troublesome subjectivity of morality. Infamously, a lethal war adds to economic activity as people are busy building and selling weapons of destruction, thereby adding to GDP.

But financial nihilism is far more potent than its parent because it reflects not only slow moving "real economic activity" but the rapid dynamics of systems such as the monetary system and traded markets. Both of these have very strong "make-believe" character that are prone to create rapid collective "low-effort" bubbles. To make the difference clear, it is much easier to speculate on e.g., on solarcoin, or solar power generation stocks than actually manufacture and install a solar panel.

Ultimately economic nihilism itself is a subset and derives from moral nihilism, discounting the notion that society is held together by moral values and unspoken contracts. The transactional, dog-eats-dog Hobbesian world does not burden us with having to sort out conflicting views of what constitutes "Good society". Enjoy it.

Re: The Scandal of Financial Nihilism

#64

Financial nihilism is a subset and derives from economic nihilism. The latter is basically the entirely agnostic stance of classical economic thinking that aims to decouple from the troublesome subjectivity of morality. Infamously, a lethal war adds to economic activity as people are busy building and selling weapons of destruction, thereby adding to GDP. But financial nihilism is far more potent than its parent beca…

"Ultimately economic nihilism itself is a subset and derives from moral nihilism, discounting the notion that society is held together by moral values and unspoken contracts."

Is this what moral nihilism says? I was under the impression that moral nihilism states that there are no objective or inherent moral values and rules which doesn't imply that society might need agreement on a subset of (made up) moral values to function.

Re: The Scandal of Financial Nihilism

#65
post #33

Earlier quoted context omitted.

I too have a different take on why we want to see the world burn. We’re watching as we get trapped into the void, the proverbial rat race. We have a specific vantage point, dead smack in the middle. We see both ends of the race clearly, with boomers in retirement at the end, and GenZ/Y at the beginning. All racing. At the beginning of the race we see the incessant vain jockeying of a group trying to socially manipula…

It as always like that, so it doesn’t explain why more people want to see the world burn now.

In the 60s you could buy a median home with 2.1x the median income. In 2019, the ratio is 3.5x.

https://themreport.com/news/data/02-02-2021/pressing-housing...

Re: The Scandal of Financial Nihilism

#66

Earlier quoted context omitted.

Lots of people our age feel like the world is bad and unjust and destroying current civilization through revolution will result in a just and good society. These people are idiots who aren’t aware of the death and destruction this will cause and things will likely be much worse after.

Either that, or they're history buffs. What precipitates the redistribution of wealth, historically? Some kind of gigantic disaster -- war, famine, plague, social collapse. There's never been a time when the oligarchs/monarchy/landed-gentry just calmly gave up their temporal power after listening to reasoned socioeconomic arguments. It's always been some sort of calamity. You might find that those idiots are indeed a…

Modern forestry thrives where controlled burns are allowed to repeatedly impact the same forests for the benefit of those never burned. The burned forests never fully recover, and the thriving forests grow taller by comparison. Perhaps, the old ways are better, but the oral tradition that spoke of the unity of man and the imposition of serfdom as sinful has been ignored, forgotten, and derided. Hopefully, no one sets those tall trees alight out of spite.

Re: The Scandal of Financial Nihilism

#67

Earlier quoted context omitted.

Comrade, I strongly encourage you to speak to people who grew up outside of capitalism (like me, born in the USSR, in 1981) if you want to talk about intolerable lives. Capitalism gives you a chance. It is your perverse defeated attitude that prevents you from even trying. So you complain about outcomes.

You would then find this Nihilistic attitude acceptable in a non-capitalistic country?

No because it still doesn't serve you. Some people still strived for better lives, just with much lower return on investment. And then get the fuck out to the West when you can.

Re: The Scandal of Financial Nihilism

#68
post #62

The funny/sad thing about this nihilism is that it's self fulfilling. You don't try and you don't get good outcomes. Meanwhile - life is working very well for people who don't think this way. Like, every house that comes up on the market is immediately snatched up by some 30/40 year old who is buying a home for his growing family. Somehow these guys figured out how to get consistently paid. Meanwhile you can be cryin…

don't confuse bad luck for lack of talent. However, it is true that having an optimistic mentality can help you get lucky.

Don't confuse me confusing it :) I have the issue with not trying

Re: The Scandal of Financial Nihilism

#69

The post is kind of all over the place, more like an internal reflection than a normal message to others, but it does resonate with me on one point specifically: I am an "official" millennial, born 1989. One thing I have noticed (in an anectodical, personal and subjective way) is that my age bracket, especially those I would consider higher on an intelligence/success curve, appear to be so much more closet-nihilist t…

Most millennial parents are not even in old age yet and are statistically more affluent than they are. I don’t think your analysis is correct. Plus my own experience as someone born in 1989 doesn’t really mesh with yours. Most of my friends are both what I would call more frugal and more down to earth than their parents were because they had to live through multiple economic crashes. There is little nihilism but peop…

> it’s setup to favour an older age bracket at their expense and failing to address the most pressing issues like climate change

nailed it. born '88, this summarizes my current world view so much, it's almost scary.

I turned to solarpunk and try to decide every day decisions in a way that make this future more possible. I may not succeed, it may never happen, but after lots of reflection, this is the only future setting we can achieve and allows our (esp.: my) children to be better off than we are.

Other ways simply lead to more pain/suffering/destruction/... no matter if they are philosophical more just or whatever. If you are leaning towards socialism, liberalism or are conservative, it all ultimately doesn't matter - green/sustainability is the only way to not destroy our planet too much in the next decades.

Re: The Scandal of Financial Nihilism

#70

Financial nihilism is a subset and derives from economic nihilism. The latter is basically the entirely agnostic stance of classical economic thinking that aims to decouple from the troublesome subjectivity of morality. Infamously, a lethal war adds to economic activity as people are busy building and selling weapons of destruction, thereby adding to GDP. But financial nihilism is far more potent than its parent beca…

Adam Smith has morality baked into his works pretty solidly. Not sure I would see that decoupling as classic economic thinking.
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