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Cake day: June 13th, 2023

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  • Except we would grab loans from our banker friends who are also in on the scheme, and use some of that money to pay taxes and buy some congresscritters to avoid further taxes. The banker guys would then grab some loans themselves, preferably also from each other, as they slowly repackage the whole thing and then sell it to retirement funds to make it everyone else’s problem. /s



  • maynarkh@feddit.nltoTechnology@lemmy.worldNvidia is now worth $102M per employee
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    5 months ago

    The difference is that the stock market has a very distorted definition of value.

    If you say that the value of something is what someone else is willing to pay for it, I could trade my house with a friend and say they paid a billion for it, except they paid me with their own billion-dollar house, and we would both become billionaires. Of course, that would be bullshit, but if my friend and I sat on the board of the FED, it would somehow become actually real.

    I see how that works, but the question is, how far can that stretch? Wall Street already tells us there is stuff worth more than 40 years of the US GDP trading around in their pockets, so how much more can that get before they get called on their bullshit like me and my hypothetical friend?





  • What you’re saying is true, but in my book, a market is not free because of the lack of regulations.

    Free markets are not stable things, and without regulation, they fail. Regulation keeps markets free. My definition of a free market is the econ 101 one, which is many competing companies, who all are individually unable to affect market prices. Not the weird ancap one, where we throw the reins in between the horses and let companies consolidate into a fascist dictatorship.