If you think this started with Silicon Valley that’s a mistake

  • 4am@lemmy.zip
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    17 hours ago

    The scary part of this one is that previously, we had administrations that, while still being right-of-center (yes ML, I know), had at least enough sense to prop things up well enough to recover.

    I don’t have faith that the fascist goons will take any steps to properly protect anything (regardless of whether its the ideal system or not) and just let everything fall apart.

    Considering all the damage just seems to be blatant wrecker shit trump is doing as “revenge” for who knows what, probably having his pedo time taken away by the imperial core (and under his watch too) I think he wants this place to burn and cooking us all is his sick revenge fetish at this point.

    Fucking prick

    • teawrecks@sopuli.xyz
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      8 hours ago

      The problem is that they kept propping things up and mitigating losses from those with wealth, i.e. protecting boomers.

      Recessions hurt, but they are historically a natural method of wealth redistribution. In a recession, people with stuff lose much more than the people without stuff, and then on the way back out the people without stuff now have a better chance to capture some of that wealth.

      Same for war. Historically speaking.

      • b34k@lemmy.world
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        6 hours ago

        Kind of reminds me of how our 100 year long strategy of putting out all forest fires as soon as the first spark erupts, has lead to large buildups of brush and growth, that under normal circumstances would have been burnt back, sparing the large trees and forest as A whole… but now provides so much fuel, that any fire now is not only an unstoppable force, it also kills any and every thing leaving the forests irrecoverable.

    • partial_accumen@lemmy.world
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      11 hours ago

      The scary part of this one is that previously, we had administrations that, while still being right-of-center (yes ML, I know), had at least enough sense to prop things up well enough to recover.

      I’ll admit I haven’t cataloged all financial crises in American history, but I can’t think of any right-of-center administrations that have cleaned up a things for a recovery. Perhaps only exception might be the Oil Crisis under Carter, and the recovery under Reagan. Great depression, Black Monday, Great Recession, COVID recession, all happened under right-of-center Presidents and recovered under left-of-center Presidents.

        • CovfefeKills@lemmy.world
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          4 hours ago

          What a stupid fucking thing to say. Socialism changes with nationality if you were half as capable as you delude yourself into thinking you are, the difference would be your catalyst.

          • shaggyb@lemmy.world
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            1 hour ago

            No he’s right. There are no politicians with any real power in North America who are anywhere close to left. Dems are right and Reps are fascist. It’s right and super-right in the US. Canada isn’t doing any better.

            • CovfefeKills@lemmy.world
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              1 hour ago

              Lol huh what suck my dick you dumb cunt i am here targeting a specific individual in a personal attack

              • Cowbee [he/they]@lemmy.ml
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                1 hour ago

                As I explained to you elsewhere:

                The only reason dicksucking is usable as a pejorative is to draw on historic sexism and homophobia, and telling someone to suck your dick draws on that social trauma. Telling someone to give you a haircut, for example, is still a service but doesn’t have that social trauma to make it a pejorative, and thus it doesn’t hit like one.

                It’s basically drawing on SA to be used as an insult. If you don’t think telling someone to suck your dick is drawing on historic bigotry towards groups that traditionally do that, then I’d like to know why you think it works as an insult.

                • CovfefeKills@lemmy.world
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                  27 minutes ago

                  Too much time has passed if you come at me with something remotely intelligible Imabenoid how could I ever respond!? Tomorrow you rotted fuck, ferment on it.

                • CovfefeKills@lemmy.world
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                  59 minutes ago

                  Your false equivalence as an argument? You only got away with that because I was banned from replying. High thanks for bringing it up tho because I am pretty sure it stems from your own homophobia and I suspect we can get to the bottom of it.

                  I can accept the misogynist aspect of such a statement but i refuse the homophobic aspect of sucking dick, I recognize your experience with SA and BJ’s. Are you giving me permission to proceed because I don’t want to be a cunt uninvited.

            • CovfefeKills@lemmy.world
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              3 hours ago

              by saying? by saying??? them words capture all of what i am saying. Do you want to ask another way?

                • CovfefeKills@lemmy.world
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                  2 hours ago

                  So the reason you aren’t as accepted as you think you need to be is because you have a particular brand of socialism. To the west socialism is healthcare it is police accountability it is political fairness. None of these things apply to your concept of socialism because socialism is not an ideology it is, say it with me, social… pee my pants. no wait i mean ism in my pants. You can apply your brand but I will be here to fuck that brand in the face because you are the enemy of society by associating social…ism community…ism with dictator…ism.

                  You never claimed to assert freedom for society, community but you do think dictating is part of your cause. Because it is but you aren’t socialist at best you are marxist a fucking brand. A fucking brand give me face value capitalism you dumb cunt.

        • partial_accumen@lemmy.world
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          9 hours ago

          The left begins at socialism.

          If you’re talking about the political spectrum I would think the extreme far left would begin at anarchism and eventually graduate to socialism as you move farther right.

          • Cowbee [he/they]@lemmy.ml
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            3 hours ago

            Anarchism and Marxism are generally not any more or less “left.” When I say the left begins at socialism, I mean to be considered left wing, you must be at least socialist.

  • partial_accumen@lemmy.world
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    17 hours ago

    If you live long enough, you’ve been through a number of bubbles. For me thats:

    • Black Monday (1987)
    • Dot com bubble (2000) which also bled into 9/11 economics impacts
    • Great Recession (2008)
    • COVID (2020)

    The next bubble will just be another. Economy will slow, value of most assets will drop. Jobs will be lost, homes foreclosed on…and then the recovery will begin again. We’ll look in the mirror shocked we survived it then in a few years we’ll completely forget about it and be terrified of the next bubble.

    So, prepare by living within you means, take care of yourself and your loved ones, and just be ready to weather the next storm. We’ll get through that one too.

    • teawrecks@sopuli.xyz
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      8 hours ago

      Covid wasn’t a “bubble”.

      Or if it was, it was all the over investment in entertainment and productivity tools. In which case, that popped around 2023 when everything got cancelled and RTO layoffs started.

  • The Doctor@lemmy.ml
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    18 hours ago

    I don’t expect to live long enough to retire. Any hope that I’d eventually be able to retire and enjoy life for a change went out the window in 2008 when the housing bubble popped.

    • eldavi@lemmy.ml
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      18 hours ago

      same here and my doctor confirmed it not too long ago; it’s a little bit freeing knowing that i don’t have to put any effort into planning from my elderly years.

  • Spacehooks@reddthat.com
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    17 hours ago

    I really hate how we all lived through a whole dark age and three supposed end-of-days before 30. Can’t we get a break?

    I guess This is my fault team. I wished for 2012 to not be the end. Stupid monkey paw!

    • sunbeam60@lemmy.one
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      4 hours ago

      The western economy is a boom and bust cycle, most often driven by US loosening of economic controls. I’m sure the Chinese property bubble will burst too and then we have to deal with that one too.

      How I long for social democratic, Nordic style government everywhere.

      • ThirdConsul@lemmy.ml
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        21 minutes ago

        Nordic retirement funds famously don’t invest in shitty companies or housing property… directly. In Nordic countries.

        They do own a sizeable chunk of middleman and own a lot of empty estates as well as renting agencies, e.g. in London UK, Gdansk Poland (and I forgot all other places)

  • solrize@lemmy.ml
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    1 day ago

    You have to take that into consideration in your planning. Don’t go full prepper but do diversify your holdings. That’s just basic anyway.

    • mistermodal@lemmy.mlBannedOP
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      1 day ago

      Why wpuld anyone ever be a god damned prepped that sounds like the most miserable life imaginable. You are signing up to be Salad Fingers fuck that shit

      • locuester@lemmy.zip
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        18 hours ago

        I don’t know about full on prepper, but diversifying into physical metal, crypto, real estate, stocks, bonds/treasuries etc is undoubtedly wise.

        • Random Dent@lemmy.ml
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          15 hours ago

          Yeah you don’t have to go full prepper but some of it just comes under common sense emergency stuff I think. Like where we live we have a reasonably sized garden so we grow stuff to eat, and have a big rain barrel to collect water. Normally that’s just used to water the plants but you could presumably boil it up and make it potable if you really needed to. Between that and just having a reasonable amount of dry food in the pantry it’s probably enough to see us through for at least a week or two if anything serious happened.

      • spicy pancake@lemmy.zip
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        1 day ago

        conversely, it’s a bad idea to not keep emergency preparedness supplies like ≥3 L water per household occupant, dried food (beans etc., rotated regularly), a first aid kit, etc.

        be safe frens

        edit: I’m an idiot American and forgot i have gallon water jugs not 1 L 🤦‍♀️

        • frank@sopuli.xyz
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          1 day ago

          Yeah, having been in a surprise proper emergency (no power, water, limited roads, cell service, etc for over a week) having some emergency supplies and a radio (if you have a car, AM/FM radio in that is great) completely changes things

          • Random Dent@lemmy.ml
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            16 hours ago

            Yeah we’re kind of remote and we once went for I think 9 days without power after a big weather event. Having a radio and a little gas camping stove were lifesavers. Also get lots of candles and books, one of my main memories of that time is how boring it was lol.

            Next thing I want to do is get solar-ed up so we can just flip that on for an hour or two if needed. The previous power cut was years ago when a solar setup wasn’t really feasible.

        • mistermodal@lemmy.mlBannedOP
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          1 day ago

          You can be sure that the govt will treat every single disaster like Katrina and the trucks will grow large enough to mow down 20 kida at once

  • Sequentialsilence@lemmy.world
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    23 hours ago

    I’m about 6ish years away from retirement (the goal is Dec 31 2031). I’ve been doing a lot of work in stock markets as a result of preparing for it. The thing with the stock market is you only lose money when you sell. If a bubble pops, but you don’t sell and you keep it in there, you will eventually make your money back and recover. Diversifying your portfolio also helps, if the housing bubble pops, the entertainment sector will likely grow because people need escapism. The AI bubble is huge right now and when that pops it will be worse than the dot com bubble, even though that bubble popped, websites are still around and that industry is larger today than it has ever been. Like websites AI is here to stay, and will eventually become larger than it is right now. It’s just time, wait it out and it will normalize.

  • slazer2au@lemmy.world
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    1 day ago

    There is a bubble every decade. When you are saving over 40 years or more a single year dip every 10 years is fine.

    Don’t sell in the dip, buy in the dip.

    • Cowbee [he/they]@lemmy.ml
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      20 hours ago

      Capitalism cannot last forever, though. With imperialism dying, crashes are going to get harder, to outright ending capitalism.

    • Victor@lemmy.world
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      1 day ago

      Don’t sell in the dip, buy in the dip.

      What would happen if everyone did this? Can everyone do this, even theoretically?

      • stealth_cookies@lemmy.ca
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        22 hours ago

        This is effectively impossible. Time in the market beats trying to time the market because it is hard to identify the dip until you have already exited it.

      • HobbitFoot @thelemmy.club
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        23 hours ago

        Answering the can everyone do this question, the dip usually implies that everyone cannot do this.

        The dip implies a drop in demand that is causing prices to dip.

        • Victor@lemmy.world
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          22 hours ago

          Just as I suspected. The economic system is built on some people losing and some people winning.

          • HobbitFoot @thelemmy.club
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            21 hours ago

            That’s basic economic theory to prices. For prices to down in an elastic market, either supply needs to increase or demand needs to decrease.

            • Cowbee [he/they]@lemmy.ml
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              20 hours ago

              Or a breakthrough in production, lowering labor-time and overall input costs, though some people try to lump that into “supply.”

              • jaycifer@lemmy.world
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                17 hours ago

                How would that not be part of supply? If productivity doubles and is rolled out across the board, wouldn’t supply double as well? I mean, the total work being done would probably drop such that the supply isn’t actually doubled, but if supply was the constraint before then wouldn’t it settle somewhere between that doubled amount and the original, directly translating that increased productivity into increased supply?

                • Cowbee [he/they]@lemmy.ml
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                  17 hours ago

                  Essentially, supply and demand meet each other, but that doesn’t explain prices alone, why a chair sells for 100 USD while a car sells for 50,000 USD. What matters is the difference in resources needed to devote to create one, ie labor time and raw materials, as well as the extent to which machinery, ancillary materials, semi-finished goods, etc are used up.

                  For a car, you use up far more of these than for a chair. A sudden influx of cars, say, by discovering a hidden trove, or a sudden decrease, ie a warehouse exploded, will have temporary distortions on price. However, this central, “natural price” is what supply and demand press towards over time.

                  Further, since raw materials exist naturally, the difference in their value is driven by the labor required to extract them, refine them, etc. Each step in the process makes it more valuable, unless supply is kept artificially low or high. Further still, these are averages. If someone spends a lot of time making an equivalent chair, they aren’t going to be able to take it to market for a higher price.

      • sylver_dragon@lemmy.world
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        1 day ago

        If everyone bought the dip, the dip would end. Stock prices are only loosely tied to reality. They are more strongly tied to the perception that a stock’s price will increase. So, if people started pouring money into stocks (or other assets) the price of those stocks would naturally rise as they become more scarce and sellers demand a higher price for them. Assuming the reasons for the dip remain, it would just result in the inflation of another bubble.

        Take a look back at the whole GameStop (GME) rollercoster. Large investors expected the stock to crater and began taking short positions. Retail investors saw the dip this was causing and bought the stock in droves, forcing the price up beyond anything it had any business being. Eventually, that bubble popped and the stock has settled to a more reasonable (if still higher) level.

          • sylver_dragon@lemmy.world
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            21 hours ago

            An economy is really just a way to distribute finite resources in a world with infinite wants. Even the most egalitarian of systems is going to require deciding who gets something and who doesn’t (winner and losers). It’s perfectly valid to be frustrated by being on the “doesn’t” end of that equation. And we (US and other Western Democracies) could certainly do a lot more to shift some of the resources away from the few who are hording a lot of them, even without a radical “tear the system down” approach. The difficulty is the political will to do so.

            Unfortunately, mustering political will for a collective good, which may come with some individual losses can be a tough sell. Especially when large parts of a population are comfortable. Not only do you have to convince people that the collective good is an overall good for them, you also have to convince them that the individual losses either won’t effect them or will be mitigated by the upsides of the collective good. And given peoples’ tendency to over emphasize the short term risks over the long term risks, this can be especially hard. But, that doesn’t mean you should give up, just that you need to sharpen your arguments and find ways to convince more people that things can be better for them, if they are willing to take that step.

            • Cowbee [he/they]@lemmy.ml
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              20 hours ago

              The essential factor is that the imperialist countries, ie the US, EU, etc, leverage their financial and millitary domination of the global south to expropriate large sums of wealth. These spoils are used to bribe the working class into passivity. Imperialism, however, is self-defeating, and the rate of profit is lowering while there aren’t really new markets to plunder anymore. This causes crisis.

              It’s not particularly outlandish to orient the economy around collectivized production and distribution based on need, rather than profit. Socialist countries already exist, and achieve good results compared to peer countries. They require working class organization, which is a difficult but possible process.

              • partial_accumen@lemmy.world
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                18 hours ago

                Imperialism, however, is self-defeating, and the rate of profit is lowering while there aren’t really new markets to plunder anymore. This causes crisis.

                Potentially yes, but empires can last for hundreds or thousands of years. Democracy is relatively young by comparison, and we’re already seeing large cracks in it in the USA, one of the older democracies.

                The point being: humanity hasn’t yet found a long term stable form of government.

                It’s not particularly outlandish to orient the economy around collectivized production and distribution based on need, rather than profit. Socialist countries already exist, and achieve good results compared to peer countries. They require working class organization, which is a difficult but possible process.

                I’m interested in your perspective on this. Which socialist country are you using as an example of what you describe above?

                • Cowbee [he/they]@lemmy.ml
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                  17 hours ago

                  The US is really only democratic for the capitalist class, the wealthy capital owners whose primary income originates from capital ownership. The US isn’t seeing cracks in democracy, but in the entire system of financial plunder that keeps it going. Capitalists in the US, facing internal market saturation and steadily falling rates of profit, have had to expand outward, leveraging a strong overseas millitary to keep the global south under their thumb.

                  The US Empire wasn’t the first, it’s merely the largest. Britain, France, and Germany have all reached this stage of Capitalism. World War I left them debt-ridden to the US, and World War II flipped the script, with the US flooding the world with dollars, later destroying the gold standard, leveraging its own debt to essentially tax the entire world. The entire west, or the “global north,” gains from this system with the US as the “top dog,” and is falling down with it.

                  In the modern era, however, the sheer unsustainability of that system is choking itself. Manufacturing has been hollowed out and is all handled overseas, and countries in the global south are throwing off the west in favor of more favorable relations with China. The rate of profit is falling, and overconsumption as the US Empire’s strongest card to keep demand up is faltering due to this. It’s a house of cards.

                  As for socialism, the easiest answer is the PRC. Public ownership is the principle aspect of the economy, governing the large firms and key industries, enabling them to plan for the future and actually meet their targets. Market mechanics are used primarily to make central planning more efficient. This century is going to be marked by China’s undisputed rise. As they continue to develop, market mechanics will continue to be phased out:

                  Other countries, like Cuba, manage to maintain higher quality of life metrics despite being under intense embargo than peer countries. The USSR had, in its time, the most rapid improvements in economic growth and quality of life in history. None of these countries have been perfect utopias, or anything, but all have surpassed the inherent unsustainability of capitalism.

                  If you want further reading, Michael Hudson’s Super Imperialism is a pretty good book on how the US Empire rose in the first place, as well as how it can’t continue forever, and we are merely observing its dying phase.

                  It isn’t about “discovering” new systems. Capitalism was not invented, it emerged from mercantilism and early industrial manufacturing within the boundaries of feudalism. It was never a choice to adopt it, it arose naturally as it subsumed everything else, extending the domain of private property. History is not progressed by people randomly discovering new ideas, but is a gradual material process, and the ideas that rise and fall are secondary to that and support that process. Liberalism arose because of capitalism’s rise and need for ideological justification.

      • LastYearsIrritant@sopuli.xyz
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        15 hours ago

        If you buy in the dip, that means you have extra money that’s not invested.

        If you have extra money not invested cause you’re waiting for a dip, then you’re not getting investment returns from the very long period of time we’re not in a dip.

        Even if you could predict the future, and determine when the bottom of a dip is so you could put all your money in, you’re still going to come out worse than if you just invested in the first place.

  • cmbabul@slrpnk.net
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    21 hours ago

    I’ve got at minimum 25 year until I’m of that age, if the stock market and capitalism are still around controlling the world by then well I won’t be sticking around for more misery. I ain’t having kids so easy for me to stop participating all together when I’m old and tired