I have to stay away from this thread.
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That’s capitalism….
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No. He means “the people” ought to use the State to control and take ownership of the economy. He fails to see that when you use the State, the State uses you. But more. And harder.
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Exactly what I said earlier…but more offensively.
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Only when disguised as MMT.
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Government increases money supply causing inflation → dollar devalued / purchasing power reduced → increased taxes ie lowering disposable income to decrease inflation.
Absolutely incredible.
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Holy shit…
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The least knowledgeable always claim to know the most. I have referenced Duning-Krueger a number of times in this thread already and @castoli711 rides atop mount stupid most definitely here.
By the above logic on intrinsic value - Bitcoin should be the most stable currency ever…
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Don’t forget artificially increasing demand for goods too.
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Name one essential product in the US that is in short supply (outside of maybe real estate, but that’s a higher level purchase)…
Oh right, I forgot about that. With their lower disposable income at a greater cost no less.
Silicon Valley VC’s who hate taxes, big government and love the invisible hand of the market, upon finding out that market volatility exists in real life and that they may lose money:
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Shit like this makes it harder and harder to defend capitalism that’s for sure…
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Well. at least it brought out some absolutely brutal (and IMO correct) takes
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Fractional banking has always been peek stupidity imo.
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Holy crap, the Bird App was worth solely for this tweet (click through). This Alexander, who upon googling seems to be very rich, in glorious timestamped detail, is literally admitting to participating in an organized, self-fulfilling bank run, insider trading (at a loss) and being a complete and utter idiot as well as financially illiterate.
This is a must read. How are these people rich?
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