This is probably the best example I’ve seen of “let them think you’re an idiot, rather than open your mouth and remove all doubt”.
It's all the same no matter what they say
Submitted 1 year ago by STRIKINGdebate2@lemmy.world to aboringdystopia@lemmy.world
https://lemmy.world/pictrs/image/cd35640c-42f9-4a51-8d04-bcaa915d4780.jpeg
Comments
Majoof@aussie.zone 1 year ago
FlashMobOfOne@lemmy.world 1 year ago
Also a great example of people who don’t have very good reading comprehension here in the comments.
STRIKINGdebate2@lemmy.world 1 year ago
Is this about me?
spoopy@lemmy.world 1 year ago
Rich generally do pretty fine for themselves when the “economy” tanks.
Just look at how much richer they got during the COVID recession lol
GR4VY@lemmy.world 1 year ago
Nope. Rich people are making more money than ever while our economy is “bad” at the moment.
bionicjoey@lemmy.ca 1 year ago
Yeah the OP is incorrect. When the economy is doing well it means that regular people have some chance of ekeing out a living. When the economy is doing bad it means only the wealthy are doing okay.
Imgonnatrythis@sh.itjust.works 1 year ago
This makes more sense than “rich people doing better than ever” during a down economy.
uriel238@lemmy.blahaj.zone 1 year ago
I rememer learning in macroeconomics even wealth distribution was critical and that a disparity like what we see today is on the precipice of civilization collapse. Now some of our capitalists acknowledge this and note we need to let the government regulate markets for sake of the public, but the majority of billionaires are kike nah.
slurpeesoforion@startrek.website 1 year ago
When my company stock started to slide during the pandemic, I lost literally hundreds of dollars. I wasn’t overly concerned about my loss. Not because I’m rich by any measure, but because with that big a slide, the rich were going to taste it in their ass holes. And that felt pretty good.
PoliticalAgitator@lemm.ee 1 year ago
Unfortunately, they probably didn’t feel it at all.
They could live off their fortunes for 1000 years without ever slipping into “middle class” so a few years of slower profits wouldn’t have any real effect on their day to day lives.
Getting upset that their wealth isn’t accumulating fast enough is also their natural state of being – before, during and after COVID. If they weren’t throwing tantrums because people weren’t willing to die a gasping, terrified death in the name of corporate profits, they would have been throwing a tantrum because they weren’t allowed to pay children half the minimum wage to mine national parks.
And of course, they come out the other side with even more leverage. Thousands of cafes and restaurants went out of business, but Starbucks and McDonald’s didn’t. The shortages and scalping made companies realise they could have been squeezing people even harder, a mistake they seem determined to never make again.
Pandemics aren’t the solution, prising neoliberals out of positions of power is.
rbesfe@lemmy.ca 1 year ago
OP are you 14?
GreenMario@lemm.ee 1 year ago
Oh it is. When economy good, everything gets more expensive. When economy bad, everything gets more expensive.
Everything else is irrelevant.
larsloveslegos@lemmy.world 1 year ago
In terms of money being put into the economy or just GDP? Wouldn’t a good economy mean a thriving middle class to stimulate it rather than the rich hoarding all the money they can?
GoofSchmoofer@lemmy.world 1 year ago
It used to be like that. Give money to the middle and lower class and have the wealth trickle up to the wealthy. But now the very wealthy can bypass that portion by just having some friends in politics. With that connection you can get tax cuts, infinite “get out of jail free” cards, subsidies for your businesses, etc.
The money still comes from the middle and lower class but now it’s just through giving our tax money directly to them. No need to build pesky businesses and have to deal with that headache. How gauche !
DessertStorms@kbin.social 1 year ago
larsloveslegos@lemmy.world 1 year ago
I don’t disagree 👍 Eat the rich
duckduckgoenpassant@feddit.de 1 year ago
This is just not true but I bet it sounds very deep to you
Fallenwout@lemmy.world 11 months ago
Ok Bezos.
GreenMario@lemm.ee 1 year ago
That’s why I don’t give a shit about the “Economy”. It’s like Aliens vs Predator, whoever wins I lose.
stranger@lemm.ee 1 year ago
The best time to invest is when the economy is down, that’s how they grow more money off of the misfortune of the commoner
darthfabulous42069@lemm.ee 11 months ago
What really matters is that shelter, food and basic necessities is put into the hands of those who need it and no one is discussing how best to do that.
DavidGarcia@feddit.nl 1 year ago
Some of my favorite charts:
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Robert7301201@slrpnk.net 1 year ago
Has someone been reading wtfhappenedin1971.com?
Johanno@feddit.de 1 year ago
Does this website answer this question?
Armok_the_bunny@lemmy.world 1 year ago
What was that event in the 70s that all the arrows are pointing at?
DavidGarcia@feddit.nl 1 year ago
The money system changed so that the bottom 80-90%'s wealth and income is constantly lowered via inflation and that stolen money is then handed over to the richest and most powerful people/companies via debt.
(side note: when I’m saying wages or wealth are shrinking, I mean in real terms, meaning adjusted for inflation, since the money you do get paid is worth less each year)
In this new system Nixon set up, new money is created out of nothing via debt via the banks, that money first mostly goes to the largest companies as loans. The Cantillon Effect describes how these companies can use that money before the inflation from the distribution of that money kicks in.
So not only is it stolen money, it’s also worth more if you sit right at the tap close to the banks and the central banks.
But the biggest effect is that the working class can’t adjust their wage prices as fast as companies can adjust their prices, so they are constantly shrinking compared to corporate profits. only the top income earners can outgrow the devaluation of their income (e.g. tech workers).
As an example, this means Amazon gets the wealth out of your pockets and on top of that profits off of the fact that their workers wages are constantly shrinking in real terms.
Another difference is the one of the working class’s most important way to store wealth is through savings which are inflated away constantly, vs the rich have the ability to invest in a way doesn’t get inflated away.
Another issue is interest rate manipulation, specifically artificially low interest rates. It floods the market with money, preferentially going to already wealthy people since they have an easier time getting loans and bigger ones. This mainly creates a giant bubble in the real estate market, making everything more expensive than “natural”. So anyone with real estate gets richer and richer and everyone else gets screwed over. That’s another reason why the rich get richer and the poor get poorer.
Inflation also constantly devalues debt, so the rich that hold the most debt are effectively getting their debt paid off via the wealth of the working class.
In this system, anyone who can profit from debt and outgrow inflation wins and everyone else looses big time. Practically that means the bottom 80-90% of society.
Then also global labor arbitrage screwed over workers, so outsourcing.
The groundwork for this system was created in 1971. Some of this has been set up later. It was a takeover of our monetary system by crony capitalists to rig it in their favor.
There were a bunch of other policy changes disadvantaging the working class that others argue are more important, but in my opinion the changes to the monerary system are by far the most important effect.
That system has been cloned all over the world, that’s why everyone has the same issues.
Another issue is that per capita energy production has been stagnant since 1971, energy correlated almost 1:1 with wealth. But that’s at least for a good reason, that being to protect the environment. Still, not only are we not growing richer (besides from efficiency gains), a larger and larger share of what wealth we do have is going to the rich.
If we want to reverse that we need to constitutionally enshrine stable money (i.e. no inflation).
You could also try to redistribute the new money created via inflation to the working class somehow, but that seems silly when you could just have stable money instead. Imagine if you could just build wealth by just saving money again.
Or you could force companies to adjust wages by inflation, but that assumes we can produce accurate inflation numbers. In reality the official inflation numbers are always lower than the real inflation, so workers would still be screwed over. So I’m still for stable money instead.
And unless you want to wait decades to get back the wealth that has been stolen over the last 50 years, you need to redistribute it back to the bottom 80-90% in some way.
For example you could do a 8% wealth tax. The stock market grows by 8-10% each year, meaning if you have money, you just get 8-10% richer each year by literally doing nothing. If you take away that, the playing field is leveled with the working class. it basically means the rich would actually have to work for their money for a change.
We have to change something, because the system is clearly at the breaking point. Economic and well-being indicators haven’t been this bad since WW2. And in may cases they are worse.
We are basically just serfs who only exist to make the rich richer at this point.
thedirtyknapkin@lemmy.world 1 year ago
Nixon i believe.
KnowledgeableNip@leminal.space 1 year ago
I think it’s the end of the gold standard
Surp@lemmy.world 1 year ago
Thanks
Usul_00_@lemmy.world 1 year ago
This is far better that the op.