3 ms·

Could you elaborate? We're definitely in an accelerated-transition period w/ an uptick in inequality, if that's what you mean.

finikytou 6y ago
cryptos just like tesla stock are roller coasters. the sp500 is an indicator of stability used by most of investors to jauge the health of the markets. add tesla to the sp500 (day after day spiking up and down like no other stock) and you create instability. the crypto has always been instable so managing indices on it... and at the same time you see that many people lost their jobs, went into loans they re not able to refund. not even talking about the fall of the dollar. I think all added its gonna be bad.
- elevenoh 6y ago
  There's points in here I could spend time refuting. e.g. I would disagree that 'add[ing] tesla to the sp500 = instability'
raziel2701 6y ago
Covid hits, Fed and US govt. unleash trillions of dollars of easy money for corporations and the stock market bubbles up to record all time highs in record time. This is unprecedented. The largest transfer of wealth program continues on and we continue to have a 9/11 worth of deaths at an alarmingly increasing frequency. Unemployment is high, food lines are staggeringly long, small businesses are cracking, and we don't support people to stay home: more stimulus money going directly to the lower socioeconomic classes is absolutely needed to help them stay home and stay safe. So the markets are totally decoupled from the economy. Reality is gonna hit that someday and then, only then, will we see the panic go through Congress once again as they pass all kinds of amazing bills that while they do in the name of helping the little guy, it mostly provides protection to all these zombie corporations that need another dose of easy money to stay alive. So we throw away all this capital and keep the transfer wealth program alive that sucks the future out of the younger generations to keep the shareholders happy. Socialize the losses, privatize the profits. It feels like we're about to reach a tipping point. The number of scammers, grifters, conmen is too damn high, even the president is one. What's happening?
- elevenoh 6y ago
  Humans are less & less required for the unfolding, highly leveraged, highly automated, highly unequal economy. Don't see any way for avoiding this.

finikytou 6y ago

cryptos just like tesla stock are roller coasters. the sp500 is an indicator of stability used by most of investors to jauge the health of the markets. add tesla to the sp500 (day after day spiking up and down like no other stock) and you create instability. the crypto has always been instable so managing indices on it... and at the same time you see that many people lost their jobs, went into loans they re not able to refund. not even talking about the fall of the dollar. I think all added its gonna be bad.

elevenoh 6y ago
There's points in here I could spend time refuting. e.g. I would disagree that 'add[ing] tesla to the sp500 = instability'

raziel2701 6y ago

Covid hits, Fed and US govt. unleash trillions of dollars of easy money for corporations and the stock market bubbles up to record all time highs in record time. This is unprecedented. The largest transfer of wealth program continues on and we continue to have a 9/11 worth of deaths at an alarmingly increasing frequency. Unemployment is high, food lines are staggeringly long, small businesses are cracking, and we don't support people to stay home: more stimulus money going directly to the lower socioeconomic classes is absolutely needed to help them stay home and stay safe. So the markets are totally decoupled from the economy. Reality is gonna hit that someday and then, only then, will we see the panic go through Congress once again as they pass all kinds of amazing bills that while they do in the name of helping the little guy, it mostly provides protection to all these zombie corporations that need another dose of easy money to stay alive. So we throw away all this capital and keep the transfer wealth program alive that sucks the future out of the younger generations to keep the shareholders happy. Socialize the losses, privatize the profits. It feels like we're about to reach a tipping point. The number of scammers, grifters, conmen is too damn high, even the president is one. What's happening?

elevenoh 6y ago
Humans are less & less required for the unfolding, highly leveraged, highly automated, highly unequal economy. Don't see any way for avoiding this.