^ Lemmy’s understanding of economics right here. We’re staring down the barrel of Great Depression 2.0 and the trigger finger tightened over the last three days. Lemmy’s take:
“The stock market is gambling for rich people and nothing to do with the real world. The ‘economy’ and ‘economic indicators’ are for rich people and, being poor, I don’t participate in the economy.” Then goes on to bitch about how the economy is fucking them.
Its still fantasy money. Sure the effects are real but unless the system is overhauled no one here is going to do anything about it. May as well laugh otherwise you’re crying and ripping your hair out in a corner.
Yeah, no one is saying they aren’t but these “major” losses aren’t. The top 1% of wealth owns over 50% of the market the bottom 50% owns less than 1%. To a vast majority stock losses aren’t meaningful until it affects their job. We all know theres a bubble and just hope that there can be improvements after the pop.
Trying to discuss economics on Lemmy is an exercise in futility, but also the ‘value’ of some of these companies is basically fake money in my opinion.
But the stock market seems to have nothing to do wrih the “real” world anymore or we wouldn’t have to be saying a k shaped economy. Used to be shit was bad for people stokes fell now we have had covid where they didn’t happen and now.
Fantasy money vanishes, more at 11.
Technology!
sure, but all fiduciary money is fantasy money
^ Lemmy’s understanding of economics right here. We’re staring down the barrel of Great Depression 2.0 and the trigger finger tightened over the last three days. Lemmy’s take:
“The stock market is gambling for rich people and nothing to do with the real world. The ‘economy’ and ‘economic indicators’ are for rich people and, being poor, I don’t participate in the economy.” Then goes on to bitch about how the economy is fucking them.
Its still fantasy money. Sure the effects are real but unless the system is overhauled no one here is going to do anything about it. May as well laugh otherwise you’re crying and ripping your hair out in a corner.
So we agree? The effects from this bubble with be real to us on the ground?
Yeah, no one is saying they aren’t but these “major” losses aren’t. The top 1% of wealth owns over 50% of the market the bottom 50% owns less than 1%. To a vast majority stock losses aren’t meaningful until it affects their job. We all know theres a bubble and just hope that there can be improvements after the pop.
No, this is more like the 2008 financial crash, where the underlying problem was pervasive fraud and regulators turning a blind eye.
Trying to discuss economics on Lemmy is an exercise in futility, but also the ‘value’ of some of these companies is basically fake money in my opinion.
But the stock market seems to have nothing to do wrih the “real” world anymore or we wouldn’t have to be saying a k shaped economy. Used to be shit was bad for people stokes fell now we have had covid where they didn’t happen and now.