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Because this tired old argument has been made far too many times. These companies have become bloated and become a liability to the US and the dollar... Soakin

Because this tired old argument has been made far too many times. These companies have become bloated and become a liability to the US and the dollar... Soaking up all the newly printed money and wasting it on bureaucracy whilst depriving everyone else from capital. Monopolizing user attention for the benefit of other aging, rotten, decrepit, bureaucratic corporations. They were producing big nominal gains through hoarding of newly printed money but rotting the economy from the inside. Good riddance. If the reserve banks want to restore faith in the US dollar, they have to prove it works.

zepto 5y ago
> Because this tired old argument has been made far too many times. Perhaps if people listened, then it wouldn’t need to keep being made. > They were producing big nominal gains through hoarding of newly printed money but rotting the economy from the inside. It isn’t obvious how this statement relates to tech companies in any way. How for example is Apple hoarding newly printed money?
creato 5y ago
I think this is a pretty absurd take. These companies are highly profitable and highly visible to the average person, but in terms of revenue, they aren't outliers among the largest companies. They aren't disproportionately impacting "the US dollar".
- cryptica 5y ago
  They are highly profitable because they have an oligopoly over consumers. Consumers are forced to use them and other companies are forced to do business with them. For no other reason than a lack of alternatives. The reason that there are no alternatives is simply because they cannot compete financially... But if they could play on a fair/even playing field, the alternatives would almost certainly win. Their high visibility is why they are able to soak up fiat from the economy. When the Fed did the trillion dollar stimulus packages, it went straight into these highly visible stocks. These companies seem to be running a kind of money laundering operation at this stage. I suspect they found a way to keep borrowing large amounts of money from banks in perpetuity and then circulate that money among themselves to pay off each other's debts to inflate revenue numbers (maybe they use shell companies or corporate partners). It seems that there's something not right going on financially speaking. They're not playing on an even playing field as other companies. They shouldn't be profitable but they are; simply because they have an unfair advantage due to having special access to the centralized money printers.
  - disgruntledphd2 5y ago
    Are you talking about banks or tech companies? I feel like your comments would make more sense about banks.
    - cryptica 5y ago
      It's both. Network effects. Same forces behind both. We have an a monetary system which creates the economic environment and all companies compete and succeed (or fail) based on the rules of that environment. If the environment was different (e.g. using hard money like gold or Bitcoin instead of constantly printing more), then the game would be radically different and completely different companies (IMO, more socially beneficial companies) would be winning this game.
djrogers 5y ago
> . Soaking up all the newly printed money and wasting it on bureaucracy whilst depriving everyone else from capital The total market cap of all of these companies is far less than the 6-8T that’s been printed in the past year alone, so I don’t see any evidence of that assertion.

zepto 5y ago

> Because this tired old argument has been made far too many times. Perhaps if people listened, then it wouldn’t need to keep being made. > They were producing big nominal gains through hoarding of newly printed money but rotting the economy from the inside. It isn’t obvious how this statement relates to tech companies in any way. How for example is Apple hoarding newly printed money?

creato 5y ago

I think this is a pretty absurd take. These companies are highly profitable and highly visible to the average person, but in terms of revenue, they aren't outliers among the largest companies. They aren't disproportionately impacting "the US dollar".

cryptica 5y ago
They are highly profitable because they have an oligopoly over consumers. Consumers are forced to use them and other companies are forced to do business with them. For no other reason than a lack of alternatives. The reason that there are no alternatives is simply because they cannot compete financially... But if they could play on a fair/even playing field, the alternatives would almost certainly win. Their high visibility is why they are able to soak up fiat from the economy. When the Fed did the trillion dollar stimulus packages, it went straight into these highly visible stocks. These companies seem to be running a kind of money laundering operation at this stage. I suspect they found a way to keep borrowing large amounts of money from banks in perpetuity and then circulate that money among themselves to pay off each other's debts to inflate revenue numbers (maybe they use shell companies or corporate partners). It seems that there's something not right going on financially speaking. They're not playing on an even playing field as other companies. They shouldn't be profitable but they are; simply because they have an unfair advantage due to having special access to the centralized money printers.
- disgruntledphd2 5y ago
  Are you talking about banks or tech companies? I feel like your comments would make more sense about banks.
  - cryptica 5y ago
    It's both. Network effects. Same forces behind both. We have an a monetary system which creates the economic environment and all companies compete and succeed (or fail) based on the rules of that environment. If the environment was different (e.g. using hard money like gold or Bitcoin instead of constantly printing more), then the game would be radically different and completely different companies (IMO, more socially beneficial companies) would be winning this game.

djrogers 5y ago

> . Soaking up all the newly printed money and wasting it on bureaucracy whilst depriving everyone else from capital The total market cap of all of these companies is far less than the 6-8T that’s been printed in the past year alone, so I don’t see any evidence of that assertion.