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Cake day: August 22nd, 2023

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  • Flambo@lemmy.worldtoMicroblog Memes@lemmy.worldCoincidence?
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    1 year ago

    For those that supposedly champion capitalism, this should be a win win in demonstrating what the market does when you are no longer competitive.

    Yes, absolutely. Unfortunately it’s quite traditional only to tolerate markets as long as we’re happy with their behavior. The moment a market starts worrying or upsetting us is never “oh man, maybe this ‘markets’ thing isn’t all it’s cracked up to be”, it’s “obviously some regulation or policy is ruining this market, or it would never do this thing i don’t like”.

    So we’re stuck with the lose-lose-lose of:

    • keeping markets, their volatility, and all the shit that comes with that

    • giving up the fringe benefit of markets redistributing wealth when they collapse

    • denying anyone a chance to see clearly what it means to trust markets to manage our economy for us.



  • that’s not the point. the point is that there are people who can’t afford to save money in the long run. not like metaphorically can’t afford, like literally mathematically cannot afford.

    they are trapped by their existing financial burdens which they already cannot meet and which are getting larger every month thanks to compound interest.

    inflation, which normally has the effect of reducing the value of debts over time, is instead making their financial burdens effectively larger too. as inflation drives up the cost of living, wages stay the same and they have ever less of their income available to make debt payments as a result.