Comment by 01100011
14 hours ago
We don't let bubbles pop anymore. We print money and borrow from the future so that no one loses money on their homes and retirement accounts. The GFC changed the rules.
14 hours ago
We don't let bubbles pop anymore. We print money and borrow from the future so that no one loses money on their homes and retirement accounts. The GFC changed the rules.
It looks less like capitalism and more like socialism for the rich, marketed as free markets.
Print money. Push most of it into cheap credit for giant corporations and asset owners. Let a little trickle into the real economy so ordinary people feel temporary relief. Then let inflation quietly do the dirty work.
The public pays through higher prices, weaker savings, and future debt.
The powerful collect the upside.
That is the game: privatize the profits, socialize the losses, and call it capitalism.
And all of this is legal under the disguise of "protecting the economy for regular folks", and they can keep doing it repeatedly.
except the last bubble pop hit fast and hard with post covid inflation.
It worked. The only people upset about it are young people who don't vote. If young people don't want a continual wealth transfer from them to the old, they need to start voting. That's been the case since 2008, and here we are a generation later.
You mean the young people who cannot (or could not) vote because they are under 18?
Also very bold of you to assume voting does much.
(coming from a 22 year old who votes at every federal, state and local election).
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Old people will be the majority for the foreseeable future, though. To be honest, the only strategy that I currently see for young people is waiting and growing old, unfortunately..
This is a well-known affliction of democracy.
Logically, it seems insane that people who live on other people's taxes have the right to vote. Officials, public sector employees, and anyone else who receives money from the government rather than contributes to it shouldn't vote.
It's hard to take the "just vote" seriously after the rash of gerrymandering happening in the south. Some elections were even downright cancelled.
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