This volatility is not over. Investors are getting excited because things are reopening and that "unemployment report" was quite favorable, but I'm sure they are not disclosing something. Anyways let's see how things pan out ... For some reason I don't think it's over, but I sincerely hope that I am wrong.
Lol after no activity in this topic in 2 weeks it took only 10 minutes to bury my post... Glad i helped you guys remember where the conversation left off.. lol
Curious isn't it? I heard but haven't looked into it to confirm, that many corps are taking the cheap loans and bailouts and buying back their stocks to make it appear they aren't declining, but regular people are surely pulling their money.
why that cornell west bringing up race at a marxist talk? he talks about sex preference groups and color, why did he call people colored for? funny, i'm kinda color blind, but as soon as someone brings up the race card, they are getting the eyeball. white supermacy? sorry dude, everyone's retarded. “He insulted me, he struck me, he cheated me, he robbed me”: those caught in resentful thoughts never find peace. “He insulted me, he struck me, he cheated me, he robbed me”: those who give up resentful thoughts surely find peace. For hatred does not cease by hatred at any time: hatred ceases by love. This is an unalterable law. There are those who forget that death will come to all. For those who remember, quarrels come to an end. Now those words are from a real cult leader, 1/10000000000 they say. He was free when he gave everything up. I accept that my consciousness is stuck in this body ffs. its pretty good I suppose, but u know, its my attitude that causes all the problems. another thing i don like about that talk is its biased talk. why invited the two friends? A proper interview one on one, or a proper editorial with representatives from both sides and one neutral moderator. but who am i kidding. Used to be laws about that, before year 2000.
He may be brilliant but from my perspective he is like Obama, out of touch with those not in his league now that they both have graduated to the upper aka ruling class... Just as Wolff is biased to the left and socialistic they are both biased to corporate socialism right wing... From Wikipedia on Sowell... "Two weeks before the 2016 election, Sowell urged voters to vote for Donald Trump over Hillary Clinton. Sowell's theory was that Trump would be easier to impeach than the country's first female president.[68] In 2018, when asked on his thoughts of Trump's presidency, Sowell replied "I think he's better than the previous president." "In March 2019, Sowell commented on the public's response to mainstream media's allegations that Trump was a "racist": "What's tragic is that there's so many people out there who simply respond to words rather than ask themselves "Is what this person says true? How can I check it?" And so on."[70] One month later, Sowell again defended Trump against media charges of "racism", stating: "I've seen no hard evidence. And, unfortunately, we’re living in a time where no one expects hard evidence. You just repeat some familiar words and people will react pretty much the way Pavlov’s dog was conditioned to react to certain sounds."
So, America. Let's talk "CORPORATE SOCIALISM" like realists without defending it like good propagandized corporate socialists do... Both parties are complicit, the Dems made a little fuss for "we the people" needing more than a 1 time check of $1200 but not much about trillions to corporations...
Old thread but its popped back up and I can prove that all 5 of those points are wrong. When the UK went into lockdown our govt just printed off something like £130billion in New notes to dish out to us all. Never took it from anyone. Never cut money to any services or anything like that. Just printed it off and dished it all out by the thousand. Been doing it here in scotland for a few years. I get 1350 a month wether I work or not. If I work 30 hours a month I get about 2k. I work full time though cos the more I work the more I earn. You can indeed legislate people out of poverty without taking it from someone. And we've gotta work to get it. If you go more than 9 weeks without a wage they cut you off full stop and send you to a food bank for a lucky bag. So there's massive incentive to work. Only those on limited income benefit from it and only those who respect the system are allowed to access it. Reeeaaallly hard to stay on it if you can't at least prove you're genuinely trying pretty hard to find work. Not sure what socialism is to be honest. Not a policitian by any means but just thought I'd point out that those 5 points can indeed be achieved
If the total value created by Scotland is 1 trillion dollars in 2019 and you produced and were paid $100,000 you would be worth 100,000/1,000,000,000,000 or 1 millionth of the total pie. If Scotland decided to print another trillion and give it to everyone who made less than $50k, the total pie would be $2Trillion, now your money represent half of what it did before. So they would have just robbed you of half of your value without you knowing it.
But that's not what happened iether mate. Our money still buys the same amount of things it did before we got ubi. The price of anything hasn't went up over the rate of inflation and our ubi goes up with inflation so my £10 still buys £10 worth of gear. If my rent goes up or my expenses go up etc then they give us more money to cover it. I could go rent a house for double what I pay now and they'd cough up the bill no questions asked. I'll always have x amount of money and if for whatever reason the value of the money goes down we get more to compensate so we aren't any worse off. That make sense? We do literally get more money for so many things. If the price of a bacon roll goes up, fuel, car tyres/repairs, public transport, dust masks, shoes, hammers, insurance, my mobile phone bill, rent, tax rates, local council tax rates. Absolutely everything is taken into account and 're calculated on a monthly basis on a person by person basis. Every single person in the country gets paid slightly differently depending on their specific circumstances.
I am not saying what you are experiencing is wrong, but something does not add up. The financial vipers create all sorts of instruments to hide their schemes. Scotland has/produces a finite amount of value/resources I think we can agree there. So in order to print more money without it inflating the currency, the value of Scotland has to rise because the currency is essentially a marker for, as I said before, a portion of the total value of Scotland. If what you are saying were ACTUALLY true (I understand it is APPARENTLY true), Scotland could just print a zillion dollars and buy up the rest of the world. If you figure out why that won't work, you will have the answer as to how what you are saying cannot be actually true. They might be going in debt, or more likely selling off assets or fudging numbers or subsidizing. If they subsidize everything with capital from sold assets or debt, they can temporarily keep prices artificially down, but it is just kicking the can down the road.
There's very little (if any) difference between so called "corporate socialism" and so called "crony capitalism." In fact they appear to be the same exact thing. It's just corporate oligarchs privatizing their gains and socializing their loses on everyone else. I don't care where you stand on the political spectrum, most people are against subsidizing and/or bailing out Big Business. Unfortunately a small handful of neoliberals are running the show. People keep having the same argument with nuanced labels added to it to help confirm their own biases. These semantical arguments have been waging on for centuries now too, at least since the days of Pierre Proudhon and Frederic Bastiat.
The point is with another recession a decade after the previous one the corrupt powers that be (aka ruling class, both parties owned by corporate interests) are doing the same damned thing that Obama and his pack of crooks did... No regard for "we the people" so they let millions lose homes and jobs, small businesses belly up. This is what helped create the "window of opportunity" for a Trump as so many gave up on the Clinton - Obama neo lib BS caving to the corporate agenda... Unlike some other countries who still listen to the needs of the people, the USA will see a tsunami of home foreclosures, more small business wiped out and renters out on the street... This won't bode well for protests in the street as they will have more fuel for the fire... Corporate looting is the culprit...Bernie Sanders and other DemSocs have advocated for this long before COVID. Reality has endorsed Bernie Sanders. To Stay Stably Housed, Renters Need $16 Billion per Month in Housing Support during the COVID-19 Crisis The COVID-19 pandemic exacerbated an already severe rental housing crisis. In 2017, nearly half of renters spent more than 30 percent of their income on housing costs, and approximately a quarter paid more than half of their earnings on housing. Compounding this, renters are more likely to be employed in industries vulnerable to employment shocks. The COVID-19 crisis increases both the severity of rent burden and the urgency for assistance. State and federal unemployment assistance, along with eviction moratoria, have helped most renters pay rent and remain stably housed during the crisis. But renter households face a severe cliff at the end of July, when supplemental unemployment assistance from the Coronavirus Aid, Relief, and Economic Security (CARES) Act expires. In a new brief, we estimate that when state and federal unemployment assistance expires, $15.5 billion per month would be needed to alleviate cost burden for renters who were cost-burdened before the pandemic and for renters who lost their jobs as a result of it. To Stay Stably Housed, Renters Need $16 Billion per Month in Housing Support during the COVID-19 Crisis
If I may ask, what exactly gives Bernie Sanders the golden ticket? I think the warning flag was being waved long before Bernie Sanders. The occupy movement has been a thing since 2011, and even before occupy certain other actors (like Ron Paul) have been exposing corporate leeches. I mean, I appreciate Bernie's desire for going after the "billionaires and multimillionaires." But he comes across as the guy who hates the rich simply because they're rich, rather then realizing the rich class is merely a symptom of a rigged game. And I don't believe his gameplan for raising taxes on the rich is very effective. In the end, this just creates a bigger separation from the bottom to the top of the financial hierarchy, which is increasingly making the middle class disappear. A superior way to attack this is to take down the modern banking system. Whenever the fed reserve injects newly printed bills into the money supply, the first people to have access to this new money is the credit worthy borrowers (like wealthy businessmen, corporations, big banks, national government itself, etc.), this allows them to spend the new money before the pricing system has had time to inflate and adjust to the new money. By the time the average working man gets the newly circulated bills prices have adjusted. There is a significant transfer of wealth from the hands of many to the hands of a few during this process. I think taxing the hell out of the rich in an attempt to pay for things like universal healthcare is just trading one problem for another. Social safety nets should ideally be decentralized, not centralized. It'll allows them to take care of those in their immediate communities, while also providing a natural cap on spending efforts.
if you would throw in a complete rewrite of our current federal tax laws i'm in with you 100%. i think you're spot on with the first paragraph. when the two goals of the fed reserve (us central bank) are met they dont really focus on much else. the fed's two primary goals are maintaining inflation at ~2% and unemployment at ~4.5%. as long as those goals are met the rest of the economy is managed by the 2 or 3 large commercial banks that simply trade paper all day, all night, and world wide. it's a rigged system for sure and certainly every G20 nation is under a central banking system economy. i think everyone that understands the ridiculous way US unemployment numbers are calculated knows how easy it is to manipulate that number. out of the first $3T i can't imagine or find accurate accounting of where all that money landed but i do know large commercial banks and a couple of private equity firms got tens and hundreds of billions, and banks that actually did disburse the funds to workers and businesses made tens of billions in servicing fees concentrated in a handful of the larger retail banks. the same banks are some that are holding student loan paper. imo, since "we're" giving money away to the banks all student loan debt should be wiped out. it's bullshit yoking young graduates with that kind of impossible to pay off debt load. it's said that's a "looming bubble" anyway so just wipe the slate clean.
Yeah there needs to be a debt jubilee, but that is just a temporary fix. They will re-inflate the entire economy again and siphon off every bit of value possible, so as Murray said, we need a complete overhaul of the banking system. IMO monetizing the future (debt) should not be a factor, but if someone has money that they want to lend and risk losing, that debt is fine, because the value has already been created. Fiat currency, fractional reserve banking and printing money out of thin air needs to go.