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I’m just so jaded with capitalism in its current form. Its become too perverse, too immoral, too untethered from society. The market rallying every time there
by spaceman_2020 3y ago
I’m just so jaded with capitalism in its current form. Its become too perverse, too immoral, too untethered from society.
The market rallying every time there is bad economic data, collapsing when unemployment goes down is just the clearest indication that something has gone terribly wrong with “market forces”.
- heavyset_go 3y agoThe market collapse in response to low unemployment was the result of the Federal Reserve raising interest rates in direct response to high employment and wages, with the stated goal of reducing wages and increasing layoffs to tackle inflation. Capitalism has always been about serving the needs of those with capital, and reducing wages and employment does just that. This has always been its form.
- spaceman_2020 3y agoAll that pretty much means that “market forces” are in absentia. The invisible hand of the market has been replaced by the invisible hand of the Fed. This isn’t what capitalism stands for at its core.