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American capitalism has taken an apocalyptic turn

economist.com

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Re: American capitalism has taken an apocalyptic turn

#31

Post by VonGuard »

janderson215 wrote: post #15
Obscurity4340 wrote: post #11

Earlier quoted context omitted.

Isnt Economist , like, a super prestigious publication? Why would they let something flimsy seep thru?

I know someone who has called it “The Ecommunist” for 20 years, so not everybody has the opinion that is is prestigious, but some see it as elitist.

Calling the Economist anything resembling "leftist" is emblematic of the psychosis in the system. The Economist is what the Wall Street Journal was before Murdoch bought it: Focused on encouraging long term thinking, gains, and wisdom, while reporting on the short term trends. The Economist is the absolute embodiment of the old man and the kid joke from the Sopranos:

The investor: "Hey dad, let's run down this hill and fuck that cow!"

The Economist: "Be patient, son. Let's walk down this hill and fuck 'em all."

Re: American capitalism has taken an apocalyptic turn

#34

Post by matrix87 »

Obscurity4340 wrote: post #11
cm2012 wrote: post #7

Earlier quoted context omitted.

Yeah, this article does not seem evidence backed to me. There is a ton of optimism now.

Isnt Economist , like, a super prestigious publication? Why would they let something flimsy seep thru?

Zerohedge is probably more reliable at this point

Re: American capitalism has taken an apocalyptic turn

#36

Post by abuob »

WalterBright wrote: post #16
randycupertino wrote: post #10

I would say with inflation, wealth inequality and skyrocketing housing, gas and grocery prices as well as super high amounts of consumer debt and families stretching to keep up it feels a lot like pre-bust 2005/2006 economy out there right now. We might not be on the cusp of a subprime mortgage bank crisis but it does feel ominous lately.

[flagged]

If you're genuinely curious, a few suggestions that I personally found incredibly enlightening:

Anand Giridhardas, Winners Take All: The book is fantastic, there's also his now infamous google talk where he talks about dismantling google: https://m.youtube.com/watch?v=d_zt3kGW1NM

Thomas Piketty, Capital in the 21st century: Probably the most comprehensive (but at times also longwinded) outline on how wealth inequality comes to be, why it's not good for society and how it could be adressed

Re: American capitalism has taken an apocalyptic turn

#37

Post by themafia »

caymanjim wrote: post #29
LargoLasskhyfv wrote: post #18

Earlier quoted context omitted.

What's wrong with it? It shows the article, with a little banner on top, showing when it was captured. Doesn't mess with scrolling, what's not to like?

Well, for one, it wants me to scan a QR code as a captcha.

I've never once had that happen. It's always straight to the unrolled article.

Re: American capitalism has taken an apocalyptic turn

#38

Post by eduction »

tadfisher wrote: post #23
WalterBright wrote: post #16

Earlier quoted context omitted.

[flagged]

[flagged]

Not at all dense. It’s axiomatic that as societal wealth increases so does the potential for wealth inequality, and in a capitalist system it is a given that inequality will also actually increase.

Perfectly reasonable to debate if there is too much wealth inequality but just hand waving at its mere existence doesn’t add anything to the discussion. The person you’re replying to was calling this out. Ironically, you’re trying to shut down the discussion in the name of perpetuating it.

Maybe you’d like to explain how you think about wealth inequality, since you say you’re interested in a more freely flowing discussion. I’m all ears.

Re: American capitalism has taken an apocalyptic turn

#39

Post by WalterBright »

abuob wrote: post #36
WalterBright wrote: post #16

Earlier quoted context omitted.

[flagged]

If you're genuinely curious, a few suggestions that I personally found incredibly enlightening: Anand Giridhardas, Winners Take All: The book is fantastic, there's also his now infamous google talk where he talks about dismantling google: https://m.youtube.com/watch?v=d_zt3kGW1NM Thomas Piketty, Capital in the 21st century: Probably the most comprehensive (but at times also longwinded) outline on how wealth inequalit…

How about a summary of Piketty's argument?

We could start off with how are you worse off because of people wealthier than you?

Re: American capitalism has taken an apocalyptic turn

#40

Post by staplers »

WalterBright wrote: post #16
randycupertino wrote: post #10

I would say with inflation, wealth inequality and skyrocketing housing, gas and grocery prices as well as super high amounts of consumer debt and families stretching to keep up it feels a lot like pre-bust 2005/2006 economy out there right now. We might not be on the cusp of a subprime mortgage bank crisis but it does feel ominous lately.

[flagged]

  How does creating wealth hurt others?
Inflation. If i print $1 trillion dollars, i buy up all the resources you need to live and dangle them in front of you and control every aspect of your life.
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