[Igor Antunov]

Prove me wrong:


The housing market never stopped crashing. They just created a new class of rental serfs and eventually started printing cash to hide the epic collapse. And it continues unabated.

[pugsville]

Prove me wrong:


The housing market never stopped crashing. They just created a new class of rental serfs and eventually started printing cash to hide the epic collapse. And it continues unabated.

1 + 1 = 2.

You are wrong,

[Potemkin]

Global capitalism collapsed in 2008, and it’s been on a life-support machine ever since. The question now is, how long before the life-support machine breaks down…?

[ckaihatsu]

Both the public sector *and* the private sector as well are *both* dependent on a constant stream of new government debt. What could go wrong -- !

[Rancid]

Global capitalism collapsed in 2008, and it’s been on a life-support machine ever since. The question now is, how long before the life-support machine breaks down…?

Not exactly. I think a better analogy is that global capitalism is that drunk guy you see stumble out of the pub. You just keep watching because you expect him to fall flat on his face eventually. Yet somehow, right when he's about to fall, he manages to whip himself back on his two feet... Only to continue stumbling of course. ... "ooooh, he's going to fall... he's going down!... what? nooooo! how did he manage not to fall?!?!"

@Igor Antunov. Just because the fed owns mortgage-backed securities, it does not mean they call the shots on what happens to those loans. Those loans were created by brokerage firms and the original private banks that issued the loans and terms. They just sold those loans to the fed, but the loan administration firms still have to abide by the terms. The fed doesn't get to redefine those loans willy nilly. Thus, no, the fed does not get to dictate how these people live or manage the properties. The Fed does not get to dictate how those loans are administered.

Arguably, the fed is acting as an insurance company for banks by buying up some of those loans (i.e. assuming the risk). That's really what happened. There are a shit ton of problems with capitalism and the current system. This is more of a symptom not actually that fundamental of a thing. You and your libertarian buddies are focusing on the wrong things.

I'm going to guess you saw this on some stupid reddit/tiktok/instagram/twitter thing, and decided to post it here to appear like you are some sort of clairvoyant person or some shit.

You're not. That said, I'm asking you, what cryptos should I buy in 2022?

[ckaihatsu]

https://www.cbo.gov/publication/56442

[Igor Antunov]

Not exactly. I think a better analogy is that global capitalism is that drunk guy you see stumble out of the pub. You just keep watching because you expect him to fall flat on his face eventually. Yet somehow, right when he's about to fall, he manages to whip himself back on his two feet... Only to continue stumbling of course. ... "ooooh, he's going to fall... he's going down!... what? nooooo! how did he manage not to fall?!?!"

@Igor Antunov. Just because the fed owns mortgage-backed securities, it does not mean they call the shots on what happens to those loans. Those loans were created by brokerage firms and the original private banks that issued the loans and terms. They just sold those loans to the fed, but the loan administration firms still have to abide by the terms. The fed doesn't get to redefine those loans willy nilly. Thus, no, the fed does not get to dictate how these people live or manage the properties. The Fed does not get to dictate how those loans are administered.

Arguably, the fed is acting as an insurance company for banks by buying up some of those loans (i.e. assuming the risk). That's really what happened. There are a shit ton of problems with capitalism and the current system. This is more of a symptom not actually that fundamental of a thing. You and your libertarian buddies are focusing on the wrong things.

I'm going to guess you saw this on some stupid reddit/tiktok/instagram/twitter thing, and decided to post it here to appear like you are some sort of clairvoyant person or some shit.

You're not. That said, I'm asking you, what cryptos should I buy in 2022?

The fed can print money for free, the ultimate power, it can decide all the things.

If you're looking to get rich quick buy some meme coins and hope Musk pimps them on his twitter.

[ckaihatsu]

The fed can print money for free, the ultimate power, it can decide all the things.

[QatzelOk]

Global capitalism collapsed in 2008, and it’s been on a life-support machine ever since. The question now is, how long before the life-support machine breaks down…?

The "life support machine" will break down as soon as it runs out of the blood of the working classes. Wait when QE leads to runaway inflation to see the government response to the ensuing riots and strikes. Western governments will probably look a lot like Latin American governments over the last 50 years - teargas, disappearances, austerity, and hatred of the poor.

There are a lot of working class people out there to bleed, so it could be a while before they run out. They can always go international when their own working class starts to ask for respect (oops, already been there for a while).

If only these working classes had a will of their own, and some kind of conscousness that wasn't installed in their minds by capitalist propaganda.

[ckaihatsu]

Wait when QE leads to runaway inflation

If quantitative easing inherently caused runaway inflation, it would have happened by now, since it's been *decades* now of it.

Instead, the current paradigm has been more typically marked by *deflation* (capitalist overproduction, less demand, and lower prices), and liquidity crunches caused by the lack of actual economic activity / production while lower-level *baseline* costs continue regardless for all business entities, people, and workers in particular.

Germany, in particular, went to *negative* interest rates, meaning that any successfully economically-productive economic activity -- thus requiring capital -- would be *rewarded* by the banks / state with free and *subsidized* capital, given the borrower's finding of some return on it (it's still a loan, after all). That's a clear indicator of how *desperate* the system has become, since capitalism *still* hasn't been 'jump-started' and is far from humming smoothly.

[QatzelOk]

If quantitative easing inherently caused runaway inflation, it would have happened by now, since it's been *decades* now of it.

This is much too simplified to be a useful adage.

In a few centuries of banking, our banksters have learned how to delay a collapse long enough to profit from it themselves. They have also recognized the importance of controlling media, in order to spread the lies that are necessary to get the public to go along for as long as it takes to re-racketeer the system.

Forcing other countries to continue using American currency through wars... has been a major recent strategy. As would be a war (invest in arms! scoop up widow's properties for pennies!) or a pandemic (invest in Pharma, Google, Facebook, Amazon, Buy up bankrupt Main Street for pennies!)

But it will all end really soon so put your mask on.

*negative* interest rates

This is the sign that collapse is imminent.

...our Central Bankers and our corporate investors (the big boys) need INFLATION if they are to repay their debts. We now have three Central Banks pursuing QE to the maximum so that inflation will hopefully re-emerge...

...Since 2008 the policies of the national reserve banks have insured that savers would be robbed of their wealth through interest rates lower than inflation. They enacted such policy because many nations cannot pay normative interest rates on their national debt. They will continue this policy until they either run out of other people's money or the value of paper money is inflated away like is now happening in Venezuela...

Venezuela is mentionned, but what isn't mentionned is the role that Big Capital played in choking Venezuela to death in order to "increase capitalism's profit-making potential" - the only real goal of our oligarches. What makes you think Capital isn't looking at you and me as their next target for who to choke to death for profit, next?

[ckaihatsu]

*negative* interest rates

This is the sign that collapse is imminent.

No, it's not, though it's obviously a 'negative' indicator for the health of capitalism.

*I* think the sign that collapse is imminent is the Fed's objective / empirical inability to use the interest rate mechanism anymore. They've already lowered it to near-zero, to purportedly prime-the-pump ('MMT', or rehashed Keynesianism) with cheap government investment capital (to the 'shadow banking' sector).

But creeping inflation in consumption goods since COVID is, to many, a return of pain, and now we have to hear another round of official anxiety about workers wanting more / higher wages, to compensate for their loss of purchasing power.

The 'inflation' that the corporate mainstream has been wanting, is *not* CPI -- GDP growth and interest rates ('federal funds rate') have been moribund since the '90s / dotcom crash, so the 2% is Norman-Rockwell-type wishful-thinking about white picket fences and all that.

No, I don't think that central banks would pursue a strategy of 'inflating their debts away' like any given credit card consumer, but I could be wrong on that. I assure you that the intentions behind quantitative easing have been *Keynesian* in outlook.

...Since 2008 the policies of the national reserve banks have insured that savers would be robbed of their wealth through interest rates lower than inflation.

It's ultimately a government *policy* decision -- and now they're out of maneuvering room -- but one has to point out that the world's awash in cash (low interest rates) but sorely lacking any *growth* opportunities to *enlarge* that pool of value. Hence society's uniform dependence on government deficit spending.

They enacted such policy because many nations cannot pay normative interest rates on their national debt. They will continue this policy until they either run out of other people's money or the value of paper money is inflated away like is now happening in Venezuela...

No, sorry, the U.S. and Venezuelan economies are not comparable. The U.S. enjoys the world's reserve currency status, which no one should tire of highlighting. It's really the coin-of-the-realm, or whatever, and all other economies have to line-up to it, the U.S. dollar.


Btw:

Top Court Allows Venezuela’s Juan Guaido to Assert Control of $1 Billion Gold

https://finance.yahoo.com/news/top-cour ... 53559.html


I think the whole world now understands that there is *zero* hope of any kind for a real *repayment* on national debts, given how much the overhang is now, generally, and with low-to-zero prospects for any kind of renewed economic growth to *fund* such repayments.

[ckaihatsu]

The issues confronting the global working class are emerging ever more clearly. For long decades, the ruling classes and their ideologists have maintained that the capitalist market, private property and the parasitic financial system that has arisen from it, is the only possible socio-economic order. The Marxist analysis of the inevitable breakdown of capitalism was mythology.

However, the lesson which must be grasped from the events of the past 20 months is that the complete inability and refusal of the present order to deal with the pandemic is the form in which the breakdown of capitalism is emerging.

https://www.wsws.org/en/articles/2021/1 ... k-d22.html

[ckaihatsu]

The effect of share buybacks can be seen in the case of Apple, one of the most aggressive practitioners of this form of financial manipulation. It was illegal until 1982, when laws preventing it were rolled back under the Reagan administration as the US economy became increasingly based on financial parasitism.

https://www.wsws.org/en/articles/2021/1 ... l-d15.html

[QatzelOk]

...financial parasitism...

Nancy Pelosi’s Defense of Political Insider Trading Is Orwellian

It’s hard to think of anything more symbolic of America’s gilded and decadent ruling class than elected officials owning pieces of the very economy they’re officially charged with managing.

All told, it’s difficult to imagine something more darkly symbolic of a decadent ruling class than a multimillionaire member of Congress mounting a transparently self-interested defense of political insider trading. Nonetheless, that’s exactly what House Speaker Nancy Pelosi did this week when asked about a proposed ban on members and their spouses holding and trading stocks while in office. ...

[ckaihatsu]

...financial parasitism...

---

In the United States, probably more money has been made through the appreciation of real estate than in any other way. What are the long-term consequences if an increasing percentage of savings and wealth, as it now seems, is used to inflate the prices of already existing assets - real estate and stocks - instead of to create new production and innovation?

Phillips considers that the financialization of the US economy follows the same pattern that marked the beginning of the decline of Habsburg Spain in the 16th century, the Dutch trading empire in the 18th century, and the British Empire in the 19th century (it is also worth pointing out that the true final step in each of these historical economies was collapse):

... the leading economic powers have followed an evolutionary progression: first, agriculture, fishing, and the like, next commerce and industry, and finally finance.

https://en.wikipedia.org/wiki/Financialization