3 ms·

The timing is certainly convincing. The SEC pivoting to focus on "innovation" (which I take to be crypto) and "capital formation", CFPB being shut-down, etc. It

The timing is certainly convincing. The SEC pivoting to focus on "innovation" (which I take to be crypto) and "capital formation", CFPB being shut-down, etc. It'll be interesting to see what happens when the wheels fall off, Enron style. Capitalism interprets regulation as damage and routes around it, as someone might have said.

yndoendo 2y ago
USA has shown they will support corrupt companies with tax dollars. This will be another 2008 crash where the government welfare for companies will continue. Real capitalism would let those entities fail so others can pick them apart and attempt to do better. How long will it manifest, 4, 8, 10, 20 years? The deregulated mortgage started in the 1980s and it took almost 25 years to break everything. Most likely it will hit foreign the hardest and set off a global recession for those countries that bought in. Will there be any that are smarter and either buy in early and sell early or go to another country for a stable investment? Those would be the ones to most easily weather the storm. Guessing USA retirement investments will take a big hit. So more homeless. Also foresee politics pushing companies to invest in the Texas stock market for tax subsidies and to gain government contracts and benefits. Could be bigger than 2008.
- treyd 2y ago
  > Real capitalism would let those entities fail so others can pick them apart and attempt to do better. This is what real capitalism does. It has a built-in incentive to support a state that enables firms to socialize the losses and privatize the profits.
  - fc417fc802 2y ago
    That isn't capitalism-the-concept. That's a perverse incentive leading to an undesired outcome in the real world. Whether or not that outcome is an inevitable consequence of the ideology is an entirely different discussion.

3 ms·

The timing is certainly convincing. The SEC pivoting to focus on "innovation" (which I take to be crypto) and "capital formation", CFPB being shut-down, etc. It

by andyjohnson0 2y ago

yndoendo 2y ago
USA has shown they will support corrupt companies with tax dollars. This will be another 2008 crash where the government welfare for companies will continue. Real capitalism would let those entities fail so others can pick them apart and attempt to do better. How long will it manifest, 4, 8, 10, 20 years? The deregulated mortgage started in the 1980s and it took almost 25 years to break everything. Most likely it will hit foreign the hardest and set off a global recession for those countries that bought in. Will there be any that are smarter and either buy in early and sell early or go to another country for a stable investment? Those would be the ones to most easily weather the storm. Guessing USA retirement investments will take a big hit. So more homeless. Also foresee politics pushing companies to invest in the Texas stock market for tax subsidies and to gain government contracts and benefits. Could be bigger than 2008.
- treyd 2y ago
  > Real capitalism would let those entities fail so others can pick them apart and attempt to do better. This is what real capitalism does. It has a built-in incentive to support a state that enables firms to socialize the losses and privatize the profits.
  - fc417fc802 2y ago
    That isn't capitalism-the-concept. That's a perverse incentive leading to an undesired outcome in the real world. Whether or not that outcome is an inevitable consequence of the ideology is an entirely different discussion.