qman said:
Kryptos said: Quote box deleted for readability
"With corporate debt making up half the GDP"
Please explain.
https://www.cnbc.com/2017/11/20/the-debt-time-bomb-that-keeps-growing-and-now-equals-nearly-half-of-u-s-gdp.html
Basically, more companies are borrowing money and using it to directly manipulate share price as opposed to expanding naturally and letting the stock reflect that.
krypto2000 said:
Kryptos said: Even if we were to count recent economic policies, which ever since Reagan's "Guns-and-Butter" Reaganomics have mostly screwed the ability for upward mobility, (and continue to do so), I think there are enough loopholes being left behind for the new generations. Sure, most of these loopholes have a entrance exam that mostly consists of weighing daddy's wallet, but a smart and or lucky cookie will still figure out a way to thumb the scale. Bitcoin millionaires come to mind.
I think that is a very serious issue that you are understating though. Just think about it. You're saying that 'there are still loopholes' in which we can use to be successful, 'if you're smart or wealthy you can find them.'
In other words we're not all absolutely fucked to no end, sure, that's better than being so, but that's still well beyond a healthy base for our society. One should not have to rely on 'loopholes' or luck (wealth and intelligence require luck) to be successful in life.
Of course it is a serious issue! I'm not saying it isn't. Yes, there are fewer easy opportunities for young people. Of course it's not a healthy base for society. However, it works. It has for the last generation, it probably will for three more, and I'll probably be dead after that. Heck, some variety of "stomp the little peasants with our mighty gold heel" has existed for pretty much all of human existence. We're still around. Eventually, someone rebels, someone gets lined up against a wall and shot, and the cycle continues with a different foot in the golden boot. Everyone in the country remembers the days of 1776 with...fondness, for lack of accuracy (see what I did there?). 2076 is the same show, different cast.
Tipote said:
Kryptos said: A high suicide rate simply means that a society is good at taking care of the base physical needs of its population. Food, shelter, safety, etc. Mental needs, validation, all that stuff at the top of the needs pyramid, well, that's a bit more complicated, we haven't figured that out yet.
Are you comparing to a particular time in the past? I would say many people's living standards have fallen - affecting all those base needs of the population. And as you say, those at the top of the pyramid are a bit more complicated.. If the foundation is weak then the pyramid structure is weak.
Suicide and depression doesn't seem like a sign of an effective society in meeting those needs.
When you have nurses, firemen, policemen etc in the UK having to go to food banks because they can't afford food, I dont think its a sign that those needs are met by society.
Quote: And yes, I am arguing that in many cases, "alienated" groups are alienated by themselves, and no-one else. Like the white guy crying racial prejudice when he loses his job to a better qualified and cheaper paid minority. It's a continuation of the siege mentality: You're not under siege if you're not a victim, so you better self-alienate, because then you can go back to being the victim under siege.
I agree with you but I would also say that this is where intersectionality comes in. It's the case that on a class basis, many people - whites and people of colour - are alienated. But white working class can stamp on working class people of colour and ignore the real enemy.
Who can blame them when the billionaire-owned media is saturated with messages like..

Quote: As for shittier prospects than the previous generations: I don't know if I fully agree with this. I would agree that from the perspective of previous generations, there are shittier prospects, yes. You don't turn 18 and go work at the local factory/war recruiting office anymore. You now have options. As a result of those options, many old, stable, staple, even industries are dying out. So this means less opportunity in terms of the old definition, but there's plenty more opportunities made available by the internet and new technologies and jobs.
I know people who bought houses for £20,000 which are now worth £400,000. People used to buy houses on the wages they received, my generation is completely priced out of the market and will probably never own a home. My father had a house by the time he was 20.
Quote: Sure, most of these loopholes have a entrance exam that mostly consists of weighing daddy's wallet, but a smart and or lucky cookie will still figure out a way to thumb the scale. Bitcoin millionaires come to mind.
So youre kind of accepting those class inequalities? Surely they will self-perpetuate as they always have? Social mobility shouldn't really be left down to a handful of loopholes. Sure, I could accidentally become a youtube millionaire by showing videos of me opening kinder eggs, or even better - videos of my cat - but on a society-wide scale this seems like an option for a minority. I have some investments in bitcoin, etherum and ripple but its not something I rely on for the future.
Quote: One thing I am worried about, however, is the recent explosion in fiscal irresponsibility. Optimistic projections for the new tax bill say it will cement the deficit at $1T/year, if the economy continues going gangbusters. In the almost mathematically certain downturn of the future, well, that deficit prediction becomes $2T/year. With corporate debt making up half the GDP, and corporate taxes going down, I see some rapid inflation coming up. I figure this is the "correction" that the GOP will use as a new method to weigh daddy's wallet. Once everyone is a millionaire, no-one is.
I agree fiscal irresponsibility is a serious issue. Our corporate-governments don't give a fuck about fleecing the taxpayer. In the UK, the conservative government is rapidly defunding public services to such extremes that people will ask for privatisation, which only reduces the standard further.
Surely the rapidly increasing inflation you envision will fuck up younger generations? If I was ever to get a mortgage, which is doubtful, the interest could be debilitating.
1) No, pick any time. We can safely discount everything before the invention of fertilizer, because everyone starved before that. Nowadays, productivity is way up, and I would argue standard of living is also way up. What 50 years ago was an unimaginable luxury (fridge, TV) now exists in literally every household, even if they can't afford the power to run either. If we're talking about buying power, that's a different story, but is unrelated to standard of living.
2) Of course people feed this siege mentality. The reason fear is so effective is that it makes people predictable. I remember in 8th grade, our science teacher explained the logic behind the school shooter safety drills: "Fire spreads towards fuel. Pressure equalizes. We can generalize the likely route. People we can't, people are unpredictable." She was right. The only time that a person is 100% predictable, s when they are running for their lives from danger, whether it is real or perceived. It's like how during wildfires, predator and prey both run from the flames.
So, whip people up into a frenzy, give them something to be afraid of, and watch them run in the opposite direction like lemmings off a cliff.
3) Of course, yeah. I'm in the same boat. I'm in my mid 20s, and I'm not planning on ever owning a home. And before someone screams "millennials all kill the market!", well, yeah, it's a bad market. Like coal. Let it die with dignity. It seems like a bad investment not only in terms of raw economic means, but I don't think the value will grow faster than the market, overall. You can still buy some rural shithole for 20k, but then you're limiting yourself to two-bucks-above-minimum-wage, max. Or a 45 minute commute. Speaking of, I'm thinking in about 50 years, we will treat cars as we treat homes now. I'm thinking AI uber, with the average car becoming priced out of the average...2050-ennial salary range. I never put much stock in the whole "housing market reflect the health of the economy" bullshit. I always thought of it as subliminal advertising.
4) Why not? That's how we do most of the time. Corner the market, raise the price. That's economics 101. Bone or ye shall be boned. Changing this basic rule would be unjust to the free market. The thing is, we are living much better than most of human history. We are living to excess. We are living unsustainably. Especially so for us with fancy reliable internets and the ability to complain about a difference in money that is not measured in pennies. If we want to live without class inequalities, we're gonna have to make some fundamental changes to the system. It's natural for someone to rise to where they are, and build themselves a little floor to stand on. The thing is, that floor looks a whole lot like a ceiling from below.
5) Runaway interest fucks everyone. It's a literal logarithmic reset of the monetary system. I've always considered the concept of logarithmic money to be interesting, where for example 10$+10$=19$, but never seriously. I think this is what runaway inflation is. Your money is no longer calculated in denomination, but eventually just in bricks of cash. By weight. Normal inflation is a logarithmic process that prevents stagnation, since 5 cents doesn't buy you a soda anymore. Two thousand bucks in your pocket was a year's wages a century ago, now it's barely enough to feed four people for a month.
If what I expect happens, I figure there will be a lost generation. Maybe us, as the young end of millennial. Maybe our kids. We'll do a whole lot of complaining. Either way, life moves on. Ever play a city builder game? It's easy to expand quickly, as long as you maintain a high rate of expansion and acquire new resources. Once you run out of planet, you cannibalize yourself. Once you run out of that, well...time to slow everything down and figure out a new way to live. That takes time. A long time. It's not something we fix in a decade, even. This is something that takes a lot of sacrifice for a lot of people, effectively starting society from scratch. Sometimes, we get a reason for a lot of people to get killed over some stupid war, but the following baby booms add to the problems. Sometimes, we figure out a way to build a better bandage. Maybe a war on drugs, something everyone uses? Maybe a war on an idea, something everyone has? Either way, the problem is a lot more complex than that. I really wish that I had a good solution, but all I have are stopgaps. See: https://www.shroomery.org/forums/showflat.php/Number/24667448#24667448
Edited by Kryptos (11/21/17 02:35 PM)
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