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GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

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91–100 of 116 posts

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#91
post #24

Earlier quoted context omitted.

Still better than the alternatives

Pledging blind allegiance to a single system is stupid A smarter approach is to cherry pick the best elements from every model and redesign the parts that don't serve us Not everything should be for profit, if you don't value society and collective welfare, it's meaningless: https://www.theguardian.com/commentisfree/article/2024/aug/2... You'll be forced to rethink that model anyway once post-scarcity hits Abundance…

>A smarter approach is to cherry pick the best elements from every model and redesign the parts that don't serve us

There is a reason why Gesell only suggested the three core policies free money, free land and free trade. Once you have that you can cherry pick whatever you want, without any contradictions.

If you want austerity and low unemployment, high wages, low inequality and so on, the system is set up to support that.

How is that possible? Because most important thing realization of Gesell was that the system is not in equilibrium. You have to bring it into equilibrium through equilibrium encouraging policies.

The standard neoclassical framework treats the economy as if it was always in equilibrium and governments are the ones ruining equilibrium, which means you can abuse the economy and hack it and destroy it as much as you want and it will still work anyway. If anything, a neoclassical economist will even think that it will work better when it is in shambles.

So in a way, the policies that bring about equilibrium will appear as if they are a panacea. They do impossible things that people who are living in the old way of mandatory contradictions would never believe, when in reality all they did was reduce the obvious dysfunction staring down on them.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#92
post #46

Earlier quoted context omitted.

Doing Capitalism better means preventing market failures and accepting more state intervention... which i suppose the trump / republican government is doing. Free market Capitalism is dead in the USA, winners are getting picked. Coal over solar. Who knows, perhaps it's right, but I suspect not.

In all seriousness, and I'm sure I'm going to get a lot of flak for this, but at this point the Chinese do capitalism better than the US: - Lots of small and mid-sized firms. - Lots of cutthroat competition with resulting price pressure. - Virtually all firms are subsidized by direct government investment to some extent, but the government doesn't pick winners. - Red tape and barriers to entry are generally low, regu…

This is imaginary China.

In real China winners get picked by networks of ccp members, to profit from them.

You might more accurately call it an incentive for success of enterprises, so that the networks can get their spoils.

It's not the state driving it. It's the party networks.

And it's not pretty. They can expropriate via cancelled licenses if you don't play along. Etc..

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#93
post #33

“The GoFundMe CEO hopes younger donors, who are often more values-driven, digitally native, and community-oriented, will push giving higher and faster.” I can’t believe it. THIS is what he hopes for ? He is not stating he hopes his country can get out of this mess? Or researching what his company can do? He’s just looking after his cut.

He hopes for what benefits him. Would you rather see him lie and say he hopes people wouldn’t use his platform to pay for groceries?

your framing of the question needlessly removes other possibilities.. a benefit of independent companies in an economy is that some can be machiavellian bean-counters, others can be born-again bleeding hearts, and they can make business decisions from either point of view, or many others.

cynicism is a pernicious emotional illness IMHO

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#94
post #11
post #4

CNBC told me the economy is doing great. My neighbor is borrowing money from me. My friend is borrowing money from me. GoFundMe is becoming more for basic needs. Everything is becoming more expensive often for no reason. According to every metric BUT stonks, the economy is holding on by a thread.

Just before elections the democrat/left US reporters were persuading me that US is doing fine on all metrics and that people's vibes are wrong. It was utterly bizzare seeing the podcasters and media just gaslight everyone that disagreed with "US is doing great" narrative.

> Just before elections the democrat/left US reporters were persuading me that US is doing fine on all metrics and that people's vibes are wrong.

This sounds like something you were told by right-wing social media. It certainly isn’t what you’d have thought from the extensive discussion of that in the mainstream media or during the campaign when the candidates were talking about real problems affecting millions of people.

The closest you’d come to being factual were the pieces correctly noting that the U.S. economy was doing better than many other countries at recovering from the pandemic but that’s another way of saying “less bad”.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#95

Earlier quoted context omitted.

Not going to defend the messaging here, they really didn't do a good job. But the US was doing better than most western countries and inflation was getting lower. Problem is, the inflation that already happened was still there. And that part is what people notice immediately. But right now, a part of what is happening is that Trump has been blowing up parts of the economy with his tarrifs and erratic actions. The eff…

Over the last 30 years the most inflated spending category is education and healthcare, which are arguably the least import dependent.

Both depend heavily on immigrants, however, both for staffing and in the case of education for the students paying full-price tuition and effectively subsidizing everyone else.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#96
post #11
post #4

CNBC told me the economy is doing great. My neighbor is borrowing money from me. My friend is borrowing money from me. GoFundMe is becoming more for basic needs. Everything is becoming more expensive often for no reason. According to every metric BUT stonks, the economy is holding on by a thread.

Just before elections the democrat/left US reporters were persuading me that US is doing fine on all metrics and that people's vibes are wrong. It was utterly bizzare seeing the podcasters and media just gaslight everyone that disagreed with "US is doing great" narrative.

We were trending in a good direction then. We are trending in a very very bad direction now.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#97
post #16
post #12

Earlier quoted context omitted.

All the metrics (except AI-related stock prices) are worse today than a year ago. Does the media acknowledge that? The leading cable channel and broadcast TV stations are Republican-controlled, so now they pretend “US is doing great.”

I'm talking about couple of years ago, in the leadup to elections.

> I'm talking about couple of years ago, in the leadup to elections.

You mean November 2024? It has not even been a full single year, never mind "a couple"

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#98
post #4

CNBC told me the economy is doing great. My neighbor is borrowing money from me. My friend is borrowing money from me. GoFundMe is becoming more for basic needs. Everything is becoming more expensive often for no reason. According to every metric BUT stonks, the economy is holding on by a thread.

While your friends and neighbors are able to borrow more money the economy is doing great. When music stops then there is a problem.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#99
post #61

Earlier quoted context omitted.

> Everything is becoming more expensive often for no reason. - For food, this was caused by supply shocks. First COVID, then Ukraine, now tariffs and the trade war. And on top of that, excessive price-setting power in some highly concentrated sectors of the food industry. - For housing, this was caused by a supply shortage, i.e. bad housing policy. A housing shortage gives property owners price-setting power, which a…

[flagged]

Yeah all those... illegal immigrants... buying 500,000 dollar homes in Texas.

Nevermind they're the only people building the homes.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#100
post #95

Earlier quoted context omitted.

Over the last 30 years the most inflated spending category is education and healthcare, which are arguably the least import dependent.

Both depend heavily on immigrants, however, both for staffing and in the case of education for the students paying full-price tuition and effectively subsidizing everyone else.

Immigration has only made it more expensive, as shown by the increase in both price and immigration.
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