We came back from the gilded age. So there’s hope right?
Sounds like we need a modern day Teddy Roosevelt?
American capitalism has taken an apocalyptic turn
41–50 of 360 posts
Re: American capitalism has taken an apocalyptic turn
#42[deleted]
Re: American capitalism has taken an apocalyptic turn
#43I 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.
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When your part in wealth creation is having your wealth acquired by somebody else.
Wealth creation only works when the the money available to buy wealth creating instruments is significantly less than the value of those instruments.
How would markets behave if investment accounts had more cash in them than there were investment vehicles? I suspect it would be like what we see today in private equity with illiquid funds and subpar returns. The response of a market in this condition would be to look for sources of liquid funds, get them to buy the illiquid funds so that the original investors could get out leaving the new investors holding the bag of crap.
Oh wait, isn't private equity doing just that trying to make PE acceptable investment vehicle for 401ks?
Re: American capitalism has taken an apocalyptic turn
#44I 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.
You just named symptoms not cause.
1. People vote for old idiots .
2. Local politics is all about milking any potential work with permits. Sky rocket housing due to that .
3. American lost engineering culture everywhere except software . Now software is dead as industry we used to know
Re: American capitalism has taken an apocalyptic turn
#45> Perhaps the danger is not 2008, 1999, 1973 or even 1873, but 1789. 1789 was the year of the French Revolution [1]. The rest are years with financial crises. [1] https://en.wikipedia.org/wiki/French_Revolution
Oh it’s definitely starting to feel like 1789 vibes. The oligarchs have taken too much, too fast.
Re: American capitalism has taken an apocalyptic turn
#46With investments AI and robotics automation, I've long been convinced that capitalism is going to eat off its own head, even before the current AI boom.
The general public won't accept a system where only a small few have the means to get by and without much work being available to humans anymore, we'll need an alternative economic system, or face serious civil unrest.
With capitalism, for work to be done, you need the possibility of homelessness and/or other types of poverty to motivate humans to work. But that isn't required for robots.
Re: American capitalism has taken an apocalyptic turn
#47I 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.
You just named symptoms not cause. 1. People vote for old idiots . 2. Local politics is all about milking any potential work with permits. Sky rocket housing due to that . 3. American lost engineering culture everywhere except software . Now software is dead as industry we used to know
> American lost engineering culture everywhere except software
microprocessor design : Apple Silicon and lately Intel Panther Lake and later?
Re: American capitalism has taken an apocalyptic turn
#48> Perhaps the danger is not 2008, 1999, 1973 or even 1873, but 1789. 1789 was the year of the French Revolution [1]. The rest are years with financial crises. [1] https://en.wikipedia.org/wiki/French_Revolution
The French Revolution was an orgy in mass murder that led to the slaughter of millions in the Napoleon wars.
It really need to be romantizied much less!
Re: American capitalism has taken an apocalyptic turn
#49I 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.
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> How does creating wealth hurt others?
Creating wealth doesn't. Extracting wealth does. We have long switched from a creating economy to an extracting economy.
Re: American capitalism has taken an apocalyptic turn
#50America is a communist nation since the majority of the populace holds the majority of the productive capacity in joint ownership