Yes. It’s becoming more obvious by the day that the only way to get by is to break the law.
this top comment summarizes my feeling 😅
My biggest financial mistake wasn’t college, it was actually not buying a house when I was 6 years old
US workers are experiencing a 2008-style economic crisis (for at least a few years now), with low hiring, high rents, high evictions, and layoffs, and its just completely ignored by US state media.
They built in enough protections to isolate the real economy (jobs and living expenses) from the fake one (stock market and financial speculation), and re-defined the terms used for economic health, to be able to completely ignore it.
Happy cake day!
That all only works for so long though, material reality always finds a way of asserting itself in the end.
Yep, that’s the reason for the discontent and civil war like situation in the US’ domestic politics.
And it’s barely begun. It’ll keep getting worse. Someone set a Raytheon factory on fire, others will follow. There’s only so much you can push the general population before they start pushing back.
Mind you, I have little faith in Americans. But given there’s 300m of them, just a few of those doing stuff like setting factories ablaze will have major impact on the grip of the capitalists.
As Lenin so eloquently put it, every society is three meals away from chaos.
Liked his talk. One thing he did not say is chaos is bad for hiring and we do have chaos.
The other issue is tariffs. Who could have known that adding Tarrifs is going to cause inflation along with supply chain chaos which is bad for jobs. Obviously. Same for horiffic and disruptive immegration policies and wars of choice.
I can believe AI will improve productivity. That too will have effects. I know I use it quite a lot both to good effect and also in great ammusement when it totally fails in very funny ways.
What I really liked about the talk is how he connects different things there. The tariffs cause prices to go up because they’re a tax, and so you have economic contractions as a result. Meanwhile, the fed can’t bring rates down cause that causes inflation to go up. And deporting immigrants is leads companies to start laying off high skilled workers because their manual labor force is gone. So, all these things are working together to undermine economic fundamentals.
Another thought I had was, the tarrifs were a sales tax and not a supply chain supply issue deeper then that. Why is the fed trying to contain prices except when they exceed these tax increases. It some how does not make sense to me.
The other problem with inflation is fed has limited options and that usually means slowing the economy and the effect of that is not evenly distributed.
none of this makes much sense to be honest, but the oligarchs have found ways to make money hand over fist in this economy and so it continues
