WE.ALL.SAW.THIS.COMING.
It’s legit crazy how financially illiterate top executives can sometimes be.
In a company I worked for, they decided to stop using on-prem systems and move them to cloud servers. I made a rough calculation on a coffee break with colleagues that the move increases costs by roughly 10 times. It was unbelievable and all we could do was laugh.
Some 4 months later it was announced that the cloud systems are to be decommissioned due to costs and employees have to find a way to do the same things on their laptops (which will be upgraded if needed). I still cannot wrap my head around it, there must have been some nasty politics or absolute numeral illiteracy going on in the background.
I worked in the title insurance industry around 2005, data entry. So I saw thousands of mortgages being issued every week, and my job was to data enter mortgage details and data enter the research showing clear title of the property.
I was 19 years old and renting a studio apartment and even I was shocked that every. Single. Mortgage had an adjustable rate or balloon rider on it. Reading the terms of those I was thinking how the hell will any of these people make their mortage payments in 4 or 5 years?
When I would talk to people older than me with homes and investments they would get genuinely upset and tell me I couldn’t possibly understand, the banks know what they are doing. Ok.
nasty politics or absolute numeral illiteracy
Or kickbacks from the cloud service providers.
Well, some of the C-level executives had shady ties to cloud companies…
I’m currently wearing my entirely-unsurprised-face. Look, I’m never going to be an advocate of the dystopic post-capitalistic hellscape of Cyberpunk, but there’s something to be said for a Militech-style severance package.
“I was hoping to reach Anthony Gilchrist on this number,” said Faraday tentatively.
“I’d tell you that I regret to inform you that I just executed Mr. Gilchrist in his office for violations of corporate policy five minutes ago,” replied Meredith Stout smugly, “but then I’d be lying.”
“About executing him?” asked Faraday cautiously.
“About regretting it.”
I would be dramatically less upset if I was surprised. Its painful to of shouted this from the rooftops for what feels like years now, only to be dismissed so easily. What males it even more painful is its the same idiots that where so desperate for nfts to work because their lives are so pathetic the only way they can see it improving is yoloing it on some tiktok fad they just learned about a week ago.
The same people that are desperately defending ai on every turn desperately need it to work because they have taken full bait on the scam. They probably bought some 10k course from the PDB podcast or something like that on “how to get rich quick with ai for dummies” and then wasted 7.5k in tokens to make a web wrapper that sends all user input to Claude and does literally nothing. All their retirements are getting fucked by ai and they probably dumped all their personal savings into ai stocks. Literally the whole american economy is held up by a scam and instead of looking at death in the eye people rather claim ignorance and get mad and upset when you point out the truth.
I rapidly flip between “everyone is just misguided and have been intentionally deprived of good information”, and “oh god the stupid people are running the planet, they are lesser beings who only prevent progress.” And that usually just depends on my mood.
I just don’t understand how practically every business in recent times has operated on this model, and its not just obvious to everyone that this is the new scam to siphon money out of you instead of a real grass roots business that has actual real proven thing.
They saw it coming. This is a legal bank heist. The ultra rich rob the banks then will cry poverty (to big to fail) and demand to be rescued only rob the banks again another day. This isn’t the first time they’ve pulled this scheme, it won’t be the last. As long as it keeps working they’ll keep doing it.
I think they saw it coming as well.
There is a song playing, fewer chairs than people running and it is about to stop. They want to earn money and hope they are not the last one to sit.
They are playing a game and they know it
Kick out fascists
State seizure of big tech, ISPs, and utilities
Require reeducation for conservatives
End citizens united
Expand Supreme Court, house, and senate
End first past the post and require proportional representation
Eliminate presidential pardons
If you’re gonna support all that why not just destroy the government and make a worker’s state?
I feel like the word “just” is doing the heavy lifting here.
The power required to kick out fascists, seize businesses or do any of that stuff can really only come from a socialist revolution. There’s no way the capitalists will let you vote for it, that’s for sure.
Read the history of Scandinavian socialist democracies to see how policies such as free healthcare and education can be achieved by voting.
I’ve read the history of the USSR and China, and those revolutions did not achieve anything close to similar. So… Yeah…
Social welfare is not socialism. And also, the only reason Scandinavian countries got social welfare was through massive civil unrest and threatening a worker’s revolution. The welfare was the compromise. They are still capitalist members of the imperial core who fund their welfare through exploitation of the global south.
Also, maybe read histories of the USSR and China that weren’t written by capitalists. They tend to lie about socialism, like a lot.
Social welfare is not socialism
Frankly, I don’t care about socialism. I care about free healthcare, education, welfare etc.
And also, the only reason Scandinavian countries got social welfare was through massive civil unrest and threatening a worker’s revolution.
Ok, let me educate you a bit here, as I’m actually from one of those countries. In Finland, there was a civil war in 1918 between the reds and the whites. The reds lost big time and the country went to pseudo-fascist mode for almost 2 decades. I’m saying pseudo-fascist, because there was a coup attempt to go full blown Nazi at around 1930. It failed.
During WW2 the country united against the USSR, as almost no one wanted to have any part of that disaster. After the war (and in fact also a bit before IIRC), everyone understood that leftist parties have to be allowed in politics to prevent another civil war, and so leftist policies started to enter legislation. You want to know why? People fucking voted. Now you’re going to argue that the threat of the civil war was the key, but it only allowed the left to enter the game. After that people fucking voted. People need to fucking vote.
They are still capitalist members of the imperial core who fund their welfare through exploitation of the global south.
This is as tiring as having anyone slightly leftist in the US being called a communist. The USSR exploited the shit out of Eastern Europe, somehow that doesn’t count because imperialism is a boogey man.
Also, maybe read histories of the USSR and China that weren’t written by capitalists. They tend to lie about socialism, like a lot.
Nah, I’d stick to something trustworthy. Did you know they had to smuggle information about gulags out of the USSR? Why? Because they didn’t want to acknowledge them. I wonder how trustworthy their history writing is…
You are so steeped in propaganda that you refuse even to look at information outside of the capitalist bubble. Capitalists even have a material incentive to lie about socialism because it is the only thing that threatens them, yet you still believe their lies. I despair sometimes that humanity will ever be able to throw off their chains.
Nordic countries are so stable because they import raw resources and cheap consumer goods (which are underpriced because of financial imperialism) from mainly Africa, China, and Russia, and then export monopoly priced machinery, processed goods, and weapons. They literally could not develop if not for the EU getting rich from neocolonialism in Africa.
The main exports of Scandinavian social democracies are cars, industrial machinery, petroleum products, and weapons (mainly Sweden, which is actually one of the world’s largest arms exporters, which are being used currently in mainly Ukraine and Yemen against Ansar Allah). While they import everything under the sun from the global South. Consumer-based, highly financialized economies are not socialist.
Sure bub, I know the history.
Finland, for example, was broke as hell after being on the losing side of WW2. Did not receive any aid from Marshall plan. Did not receive cheap resources from Africa either. What saved Finland was that the USSR, thanks to it’s terribly ineffective system, was unable to produce decent products, so Finland could sell absolutely everything there in exchange of cheap oil. So communism worked for Finland, not so much for the people of the USSR.
Consumer-based, highly financialized economies are not socialist.
I’m happy to let you define what’s socialist and what’s not. I care more about what countries offer (close to) free healthcare, education and social safety nets.
Edit: you could have also indicated when you edited your replies. You posted something, I responded and later your post looked very different. Not cool, man. Not cool.
so Finland could sell absolutely everything there in exchange for cheap oil.
You are literally describing how imperialism works. Exploiting the USSR after its industry was destroyed after WW2, after they literally invaded the USSR as an ally of Germany no less, and getting its oil for cheaply in exchange for expensive consumer goods afterwards. You are literally describing what I said. And yes, Finland and most of Europe got a return on their investments in Africa.
I’m happy to let you define what’s socialist and what’s not.
Socialism is when the working class is the ruling class.
To expand on that chuds will really take to this if you just throw words in like “america first” or “for the people”
2026 has kinda fucked up their brains and they sometimes confuse nationalism with socialism. They still love nationalism so you just work off of that. Once they learn its socalism after they already agreed to it’s already in their head as a good idea and have a harder time walking away from it. If there’s one thing they are bad at its self reflection and admitting they are wrong, so just get that brain worm in there.
If you say you’re making a workers party already you lost majority of the country. If instead you just say we are fixing the country and kicking out Israel and giving the money back to Americans for an american first country, then you got a lot of confused conservatives on your side who are bitter. I’ve unironically heard conservatives say they’ll vote for aoc to “punish” their own party. So things are weird right now and potentially in a advantageous way.
No, actually, that’s really bad, because that’s exactly what the national socialists were.
No no we don’t become national socialist. But I understand your fear. I was implying lying to people.
I mean, like you’re literally arguing for like the lib cultural revolution, and restructuring of the government, which definitely requires some sort of takeover, why shouldn’t it be working class? You’re only like 12 steps away from being a Maoist.
The blue party will oppose all of this.
Is this finally the crack, or will they manage to paper over it and keep the bubble growing even further?
Some losses are about to get socialised
“set to wipe out” and “wipe out” mean vastly different things in this context.
Cool, can I buy a 5090 now?
No
5090 will be cheap but you will be unemployed
The ghosts of dotcom and Lehman Brothers strikes again!
So who should I short
People keep saying AI boom as if it’s made any money 🤑
Sure has, for a select few.
Socialism for the rich. Here we go again
Already 500b is lost :(
Whoa its updated and high res.
Gen-X, having lived through 1987 (Black Monday), ~2000 Dot-Com Bubble burst , 2008 global financial meltdown, and the 2020 COVID-19 crash:
Us older millennials as well. We just don’t have the advantage of working in the booming 80s.
Neither did the vast majority of Gen-X. The cocaine 80’s is peak Boomer shit.
EDIT: I was born in 73. Started uni in 90. Let’s say you wanted to ride that mid 80’s wave, you should have been in the workforce by 84, that puts you born ~63. By the majority of lists, Gen-X starts on 65.
Many kids had part time jobs in highschool. Plus that still directly impacted kids graduating into a good vs bad economy. Younger Gen x, sure. But it still benefits older and mid Gen x.
Most of us were coming of age in the 80s and working at a grocery store if at all.
As a 44-year old who lived through all of those once-in-a-lifetime events (you also forgot 9/11) just once in my life, I’d like a boring decade where nothing happens.
Between the wars, politics, global terror, economic upheaval and the general state of things… I’m really fucking tired boss.
We will never live in peace. It’s just greed and war all the way down.
i’m tired boss…
Same…same.
Look, it’s another one of those one-in-a-lifetime events! How many now?..
I think you mean the “once in a lifetime” crashes
I think there was an early 80s crash as well.
And most of them is some way orchestrated by the US. Motherfuckers and their bullshit capitalism.
It’s all funny money that never existed to begin with lol.
and then will there be jobs?
You would assume so…but who knows. We have a wanna be dictator at the helm in the US that has the mental capacity of goldfish, so fiscal responsibility isn’t exactly this administrations forte!
I forsee layoffs instead of more jobs.
It is quite possible, the giant hiring spree during covid and immediately after was never going to last unfortunately. Maybe after the midterms things will change in a positive direction.
They are desperately trying to stave off the crash until Democrats have a majority so it can be blamed on the Democrats.
Ahh good point, it is certainly a method that works for them since they really don’t have much else to campaign on.
What a terrible insult to goldfish.
It is, but there is no reason to be coy about it.
No, the billionaires will continue to hoard.
If you can’t afford bread, you should just eat cake.
If you can’t afford bread, you should just eat
cakethe rich.
It was never even actual fiat currency. Just numbers in a computer somewhere.
Exactly, presumed value based upon future worth
