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Thread: Capitalism

  1. #1

    Capitalism

    I don't think we have a thread for it yet?



    TW: china, socialism, equality
    semi-aquatic like otters be.

  2. #2
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    He states that no one can expect the economy to expand by 173X in the 200 years. Well, the US GDP was $100B in 1928. Ninety years later (2018), it was $20.5 Trillion. That more than 200 times what it was in less than half the time.

    I'm not saying unfettered capitalism is good. It's not.

    I am unabashedly for unions, social welfare nets, corporate responsibility, minimum wage hikes, but like most things, it needs to be a hybrid (like the Scandinavian countries he mentioned use). Pure socialism, like pure capitalism, won't work.

    One of the most ridiculous concepts in the US is that higher taxes on higher income make people and companies not want to produce is absurd. The only tax cuts that can ever work are given to middle and low income people as that money is put back into the economy and creates jobs.

  3. #3

  4. #4
    For any asshole buying into Elon Musk’s rags to riches PR spin, here is a Business Insider article about him and his family

    https://www.businessinsider.co.za/el...ew-york-2018-2

    “We were very wealthy,” says Errol. “We had so much money at times we couldn't even close our safe.”

    With one person holding the money in place, another other would slam the door.

    “And then there'd still be all these notes sticking out and we'd sort of pull them out and put them in our pockets.”
    Draxx them sklounst

  5. #5
    The combination of the gig contract economy, pandemic convenience shopping, and right to work legislation, is just shredding what little humanity remained in the American labor market.

    https://www.theverge.com/2021/1/21/2...virus-pandemic
    Draxx them sklounst

  6. #6
    shoutout to /r/wallstreetbets for shortsqueezing prominent hedge funds

    semi-aquatic like otters be.

  7. #7
    q for market experts: doesn't this just drive demand for new shorting positions though?
    semi-aquatic like otters be.

  8. #8
    Quote Originally Posted by TenaciousKory View Post
    shoutout to /r/wallstreetbets for shortsqueezing prominent hedge funds

    The one day price swings so far today are absolutely bonkers. Previous close 65. Open at 96. Max at 145. Now at 80.

  9. #9
    Draxx them sklounst

  10. #10
    That didn’t take long
    https://www.google.com/amp/s/www.mon...9QwoR52K7RHXSM

    “Nasdaq Chief Executive Officer (CEO) Adena Friedman said on January 27 that the US exchange would halt trading in a stock if they matched unusual activity with social media chatter.”
    Draxx them sklounst

  11. #11
    I disagree with you
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  12. #12
    Quote Originally Posted by ImTheCaptain View Post
    Predictable market reaction to middle class prols working together. Interesting how our society will allow solidarity of capitol to swing the market, but it won’t allow solidarity of regular people.
    Draxx them sklounst

  13. #13
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    Interesting indeed.

    So is this a moment for activist hedge fund to emerge (let’s call it Occupy Capital) with a mission of amassing a monthly small donor base (<$100/mo) to screw over the big hedge funds? I think they could get a few million people in on something like that.

  14. #14
    Quote Originally Posted by myDeaconmyhand View Post
    For any asshole buying into Elon Musk’s rags to riches PR spin, here is a Business Insider article about him and his family

    https://www.businessinsider.co.za/el...ew-york-2018-2

    “We were very wealthy,” says Errol. “We had so much money at times we couldn't even close our safe.”

    With one person holding the money in place, another other would slam the door.

    “And then there'd still be all these notes sticking out and we'd sort of pull them out and put them in our pockets.”
    What Elon Musk has done in building Tesla and SpaceX is undeniably impressive no matter what his starting point was man. Come on. This is where the extreme anti-capitalism stuff goes off the rails. He could have bought an island and disappeared after the PayPal exit but he is tackling incredible challenges that nobody else has dreamed of and is making NASA look like a bunch of dudes shooting off mode rockets in their backyard. Has he enriched himself enormously in the process? Yes but that doesn’t diminish his very real accomplishments.

  15. #15
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    Musk has taken a ton of risk, created a huge number of high paying jobs (and a ton of high paying spinoff jobs) and looks like he's creating ways to avoid things like climate change while doing so.

    It wouldn't happen without incentives to him.

  16. #16
    Capitalism -

    Does not use free markets. Never has, and never will. Special rules for the elites.

  17. #17

  18. #18
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    Quote Originally Posted by BillBrasky View Post
    Capitalism -

    Does not use free markets. Never has, and never will. Special rules for the elites.
    I have no problem with Musk making billions. He took chances, is creating jobs and is responsible to the world.

    I think program traders and hedge funds should pay massively larger taxes on their capital gains. They don't produce anything.

  19. #19
    “We will coup whoever we want!”

    Elon Musk is cartoon villain evil. “Cmon man.”

  20. #20

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