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I suspect this is one of the toxic outcomes of broad stock ownership. We could allow the real-world economy to approach a stable equilibrium and even modest co
by hakfoo 2y ago
I suspect this is one of the toxic outcomes of broad stock ownership.
We could allow the real-world economy to approach a stable equilibrium and even modest contraction and it would probably have many positive outcomes. We do burn a lot of labour and resources on buillshit and bubbles.
But so much of the population is staked in the stock market now that any narrative aside from "perpetual 7% growth" is political suicide.
- derekp7 2y agoWould it be a conspiracy theory to suggest that this is the real driving force behind the push for 401k plans?
- tivert 2y ago> Would it be a conspiracy theory to suggest that this is the real driving force behind the push for 401k plans? I don't know if it was intentional, but the 401k has turned out to be a masterstroke of propaganda for pro-business set. It's gotten voters to think like they're capitalists and screw themselves in the process.
- Gibbon1 2y agoI'm a broken record, but I think the common calculations used to value financial assets look ugly when the extraction rate declines and blow up as it approaches zero. That's why policy makers don't want to build more housing. And why passive investors are freaking out about the coming labor market where workers have better leverage.