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Buckomcdoogle
Atypical obsessive.


Registered: 11/27/19
Posts: 932
Last seen: 7 months, 21 days
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We are currently living in a "plunder economy"
#27380672 - 07/09/21 02:35 PM (2 years, 6 months ago) |
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"Plunder economy" A specific case of kleptocracy is Raubwirtschaft, German for "plunder economy" or "rapine economy", where the whole economy of the state is based on robbery, looting and plundering the conquered territories. Such states are either in continuous warfare with their neighbours or they simply milk their subjects as long as they have any taxable assets.
I took the amtrak up north a few weeks ago and I sat next to this guy that was telling me on paper he's "an unemployed part time clown" The government has been giving him 900$ every 2 weeks.
This guy I know just got 30k in unemployment money all at once.
This is utterly unsustainable.... I think its also the final push for companies to start automating everything. Nobody wants to go back to some bullshit job after a year on easy street.
Taco bell in my city is hiring for 18/hr and they still cant fill those job openings. Probably for the first time in American history people are just getting free money for no reason.
The prices of collectables have gone through the roof because so many people have so much expendable income right now. My roommate tattoos for a living and this last year since covid has been steady busy the entire time.
At what point does this fiscal irresponsibility blow up in our faces?
At what point does using federal aid money to buy luxury goods sink the value of the dollar.
Nobody gives a fuck....
I think its only a matter of time
-------------------- "Nothing is more dangerous to your creativity than comfort and familiarity" "Nihilism is the most basic truth in existence, the only consistency throughout the world, and the universe is chaos and decay" "Logic leads to nihilism"
Edited by Buckomcdoogle (07/09/21 02:40 PM)
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CreonAntigone
Stranger

Registered: 05/30/21
Posts: 2,875
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Re: We are currently living in a "plunder economy" [Re: Buckomcdoogle]
#27380712 - 07/09/21 02:58 PM (2 years, 6 months ago) |
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Your roomate's non-essential job is thriving due to people having extra money to spend. The stimulus money helped the business stay afloat. That's how they're supposed to work.
Our government gives out free money to the rich all day and yet people only get mad when the poor get paid once. Do you know how much of that giant COVID stimulus went to multi-nationals, hedge fund managers and others who had not the slightest need of it? And in 2017 we just had over 2 trillion in tax cuts most of which benefit the rich.
If we want to be fiscally responsible, let's try actually taxing the rich the same as the rest of us.
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Buckomcdoogle
Atypical obsessive.


Registered: 11/27/19
Posts: 932
Last seen: 7 months, 21 days
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Re: We are currently living in a "plunder economy" [Re: CreonAntigone] 2
#27380758 - 07/09/21 03:29 PM (2 years, 6 months ago) |
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Our entire economy is run on a no limit credit card.
There is no intention to lower the deficit, just push it to the limit until it finally shits the bed.
What are the eventual consequences?
A hyperinflated dollar and a switch to digital currency?
The super rich have benefited greatly from covid stimulus..... Who do you think ends up with all that stimulus money people spend on gucci bags and tvs.
-------------------- "Nothing is more dangerous to your creativity than comfort and familiarity" "Nihilism is the most basic truth in existence, the only consistency throughout the world, and the universe is chaos and decay" "Logic leads to nihilism"
Edited by Buckomcdoogle (07/09/21 03:36 PM)
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CreonAntigone
Stranger

Registered: 05/30/21
Posts: 2,875
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Re: We are currently living in a "plunder economy" [Re: Buckomcdoogle]
#27383458 - 07/11/21 06:21 PM (2 years, 6 months ago) |
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Quote:
Buckomcdoogle said: The super rich have benefited greatly from covid stimulus..... Who do you think ends up with all that stimulus money people spend on gucci bags and tvs.
Yes, the game is just rigged. But you can't blame that on the people buying TVs. It was rigged from the start. In many places a starting job simply cannot afford rent and necessities. People need to work two jobs or more to even have enough for basic needs.
Since corporations are greedy this situation will just continue to get bad. Eventually robots will do everything, as you said. So the government might as well give people enough money to live every month regardless of job. A UBI would at least be better than the shit system we have now.
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Buckomcdoogle
Atypical obsessive.


Registered: 11/27/19
Posts: 932
Last seen: 7 months, 21 days
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Re: We are currently living in a "plunder economy" [Re: CreonAntigone]
#27383752 - 07/11/21 11:04 PM (2 years, 6 months ago) |
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I for the record would have voted for Andrew yang. The Whole concept of UBI is an interesting idea, which I was skeptical of at first.
I think the main hole I can poke in it is, what exactly stops that from devaluing our currency?
The Debt clock has gone up 7 trillion in the last year alone. Everyone is taking advantage of everything they can because there's no reason not to. Would it be wrong to call direct stimulus payments "pitchfork insurance"? Perhaps to keep the masses distracted with fiat currency while the most powerful people in the world plunder our economy. A large part of those stimulus bills was aid to foreign countries.
I guarantee you, because of covid the rich have become even more powerful and insulated. Everyone is so god damn disillusioned with how fucked up everything is.
Might as well ride the wave.
-------------------- "Nothing is more dangerous to your creativity than comfort and familiarity" "Nihilism is the most basic truth in existence, the only consistency throughout the world, and the universe is chaos and decay" "Logic leads to nihilism"
Edited by Buckomcdoogle (07/11/21 11:06 PM)
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social5decadence
Toad



Registered: 05/13/20
Posts: 70
Last seen: 1 year, 4 months
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Re: We are currently living in a "plunder economy" [Re: Buckomcdoogle]
#27388874 - 07/15/21 02:28 PM (2 years, 6 months ago) |
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Amen on riding the wave!
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Moses_Davidson
Non-Prophet



Registered: 05/21/20
Posts: 613
Last seen: 3 months, 28 days
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Re: We are currently living in a "plunder economy" [Re: social5decadence]
#27389577 - 07/15/21 09:26 PM (2 years, 6 months ago) |
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Quote:
social5decadence said: Amen on riding the wave!
Here here!
For many years I used to be very angry about the reckless fiscal irresponsibility of our government. I ran the numbers and saw that it is mathematically improbable* that the US government could ever tax us out of this hole. When the incoming taxes received by the IRS are surpassed by the interested alone that we are paying on the debt... well it won't be good for the poor. Not good at all.
Things are very bad indeed... but if we know what horse at the races is going to lose, we should not powerlessly stand around complaining about it. We should bet against the horse that we know is going to lose.
If we look at the history of the Roman Empire, the Weimar Republic, Yugoslavia, Russia, Brazil, Argentina, even Britain in the Winter of Discontent, we can know exactly what investments are going to suck in this kind of economy and what investments are going to perform exceptionally well. Then, we can invest accordingly and instead of whining about the poor we can actually be in a position to help them.
(*"Improbable" when used by quantitative analysts, mathematicians, et cetera means: "Well, its technically not 1000% impossible, but its more likely that you'll win the lottery 3 times in a row.")
-------------------- "In finance, everything that is agreeable is unsound and everything that is sound is disagreeable." --Sir Winston Churchill "The world may not only be stranger than we suppose, it may be stranger than we can suppose." J.B.S. Haldane "Truth is stranger than fiction, but it is because fiction is obliged to stick to possibilities; Truth isn't." Mark Twain
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Hikeadellic
Fungi Fan



Registered: 08/31/20
Posts: 1,227
Loc: Appalachian Trail
Last seen: 27 minutes, 12 seconds
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Re: We are currently living in a "plunder economy" [Re: Moses_Davidson]
#27389634 - 07/15/21 10:37 PM (2 years, 6 months ago) |
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What type of investments would you think do well in this type of economy?
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Moses_Davidson
Non-Prophet



Registered: 05/21/20
Posts: 613
Last seen: 3 months, 28 days
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Re: We are currently living in a "plunder economy" [Re: Hikeadellic] 1
#27389648 - 07/15/21 11:02 PM (2 years, 6 months ago) |
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Quote:
Hikeadellic said: What type of investments would you think do well in this type of economy?
To avoid any political bias, I'll say that the following two hedge fund managers are in nearly perfect agreement about the best investments, and are at opposite ends of the political scale: Ray Dalio and George Soros. Both are brilliant, and extremely wealthy due to their ability to perform well in crappy economies. They are both big on commodities right now. Bank stocks (banks print the money), companies that profit from rising gas costs, rising energy costs. So that's food production, agriculture, mining, metals, oil, gas, electricity, consumer durables, and so forth. Borrow money, buy durables & commodities is the basic premise. You can probably look up George Soros' portfolio online. Another you can look up is Euro Pacific Capital. Any of their products are good for this economy.
-------------------- "In finance, everything that is agreeable is unsound and everything that is sound is disagreeable." --Sir Winston Churchill "The world may not only be stranger than we suppose, it may be stranger than we can suppose." J.B.S. Haldane "Truth is stranger than fiction, but it is because fiction is obliged to stick to possibilities; Truth isn't." Mark Twain
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