• SugarCatDestroyer@lemmy.world
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    15 minutes ago

    This is all utter horror, the Great Depression is already upon us in the coming weeks or months, that’s what a fun year 2026 is going to be.

    And then, as a pretext, they’ll introduce a digital concentration camp with CBDC.

  • HazardousBanjo@lemmy.world
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    4 hours ago

    Never have I seen greater evidence that the ultra-wealthy are fundamentally catastrophic for the economy.

    Aside from the last like 100 billion pieces of evidence that came before this well predicted one.

  • Thorry@feddit.org
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    20 hours ago

    Millennials out here preparing for their 5th once in a lifetime market crash.

    • korendian@lemmy.zip
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      9 minutes ago

      I finally had some 401k savings that I was getting this year. I just put it into a guaranteed fund, I ain’t gambling with this house of cards.

    • BarneyPiccolo@lemmy.today
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      13 hours ago

      I went through the oil embargo 70s, a couple of Reagan recessions, a Bush I recession, all before 2000, when Republicans really got their nation-destroying chops together for some proper, world class economic irresponsibility.

      • anomnom@sh.itjust.works
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        6 hours ago

        Those weren’t on the scale of the housing and Covid crashes. Dot con was pretty bad, but still nothing like 2007/8

        • BarneyPiccolo@lemmy.today
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          5 hours ago

          The 70s was really terrible, and lasted nearly an entire decade, but yeah, everything between that and 2008 was secondary.

          Still, it demonstrates that the economy is usually at its worst under Republicans, and disastrous under MAGAs.

          They have the self-described reputation as economically responsible, but in reality, they always screw up the economy. Carter, Clinton, Obama, and Biden all entered office with an active Republican economic downturn of their own making, and we’re forced to clean up the Republican mess before they could get their own agenda underway.

          Biden not only had an economic recovery to navigate, he also had to launch an emergency Covid vaccination program, and he accomplished both ahead of schedule. If he had dealt with the severe national security threat of MAGA, and crushed them, and kept them out of office under the 14th Amendment, he’d be one of the Top 10 presidents of all time. Instead, his Covid/Economic successes will be forgotten, and he’ll be in the bottom 15.

      • anomnom@sh.itjust.works
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        6 hours ago

        I’m an Oregon Trailer, are you counting the savings and loan crash, or am I missing one in the 90s?

        • savings & loan
        • dot com
        • 9/11
        • housing bubble
        • Covid
        • AI
    • vin@lemmynsfw.com
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      14 hours ago

      It’s good to have crashes regularly, that’s when you can buy on the cheap

    • Pavidus@lemmy.world
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      21 hours ago

      That’s more or less how I deal with any economic numbers these days. Just one mans salary. No big deal.

    • DrDystopia@lemy.lol
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      18 hours ago

      He eventually buys up all ai companies for nickels on the megadollar and copy strikes all unauthorized ai providers.

      The only resistance left is the decentralised group of people running outdated and decensored LLM’s for erotic RPG.

      We’re doomed

  • Archangel1313@lemmy.ca
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    21 hours ago

    It always amazes me just how stupid all these billionaires actually are. It just highlights the fact that they did not actually “earn” that wealth, in the first place. If it were truly a matter of talent and skill, they wouldn’t be crashing the economy every five to ten years…but here we are, for the fifth(?) time in the last few decades?

    • buddascrayon@lemmy.world
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      20 hours ago

      You may think it’s stupid but these people are still going to make ass loads of money out of this entire ordeal. Because the entire system is rigged in their favor.

      • Lfrith@lemmy.ca
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        13 hours ago

        Its like the movie Big Short where despite news of bankruptcies stocks kept going up for a long time. It was when the banks shored up their own shorts that they actually let the market crash.

    • Kyrgizion@lemmy.world
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      21 hours ago

      The crashes are deliberate. It allows them to scoop up infrastructure for pennies on the dollar. It’s not a coincidence that the largest ever upward transfer of wealth occurred during COVID. That was the elite consolidating their holdings. And evidently, they’re not exactly satisfied yet and want even more.

    • IrateAnteater@sh.itjust.works
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      21 hours ago

      Crashing the economy is only stupid if you don’t have enough liquidity to capitalize on it. That or if you actually give a shit about people.

    • Croquette@sh.itjust.works
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      19 hours ago

      They aren’t stupid, they are gambling and they toss their weight to stack the bet in their favor long enough so that they can cash out and not be left with the bag when it crashes.

      Every recession, richs get richer and we get poorer.

      • cv_octavio@piefed.ca
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        21 hours ago

        The real stupid takes are the correlations between wealth and intelligence we made along the way.

      • killea@lemmy.world
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        20 hours ago

        In a way it requires you to be an apex predator of your own species. They are necessarily stupid but greedy and psychosocially fucked. Maybe smart in certain ways but blindingly stupid in others. And also cannibals, which occurs to me now, since they basically hunt and consume the essence of poorer humans. Can we make that cannon?

  • Ilixtze@lemmy.ml
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    15 hours ago

    Oh Let it burn, let it burn, let it burn, oh won’t you let it burn, oh won’t you won’t you let it burn, oh let it buuuuurn oh won’t you let it burn, oh won’t you let it buuurn! 🎵

  • someacnt@sh.itjust.works
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    15 hours ago

    You mean the big short guy will earn money? Interesting. Hopefully that means I also happen to earn money as well.