- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
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To make matters worse, well, for my generation here in Denmark, 1983 is the smallest generation alive. That means we have the least voting power. Between us and larger voter pools, it’s pretty clear who politicians will cater to.
In the US 1984 was the nadir in births. So a similar experience.
It never really felt to me like the tech bubble crash was that big a deal to many people outside of a group of greedy rich assholes. There’s always collateral damage of course, but the only change I really witnessed was a stop to people getting paid 20x the median salary after spending a few weeks with a Teach Yourself Perl in 24 Hours book.
Me when capitalism
Capitalism works if we factory reset it every 10 years or so.
That 10 years coincides with US debt and bankruptcy law. “Like a free Uno reverse card”, a quote that needs be in grade school textbooks.
Oh yes, that’s true
Capitalism works when it’s allowed to work, and part of that is strong social safety nets… For the people, not the companies.
If we’d let banks and businesses fail in 2008 it, it would have been devastating at the time, but we wouldn’t be in this hot mess today. Because the government is so friendly to failed businesses, models that play fast and loose can make huge profits, squirrel away that cash, fail, and then get bailed out by the taxpayer. Meanwhile, slower and more stable institutions get outcompeted in the short term, and don’t get bailed out when they withstand the failing economy events.
Privatize the profits, socialize the losses.
Oh, and we need actual monopoly laws. No way in hell Amazon isn’t a monopoly.
And the wealthy manage to come out on top every single time.
When you’re the ones manufacturing the crisis, it’s easier to prepare and profit from it
Buy blue chip stocks during recessions and sell after recovery
Brother I’m still recovering from the last time I took the internet’s advice on stocks.
Unrelated, but fuck Ryan Cohen.
I think this thread has been very clear about what stocks to buy and it’s your fault if you don’t get it (when you figure it out, let me know too)
Instructions unclear, invested life savings in a company that produces blue corn tortilla chips.
I invested early but ate them after a month because I was afraid they’d get stale.
I accidentally ended up with a semi trailer full of blue corn tortilla chips?
Well tostitos is owned by pepsico which is a matured company of 126 years so I would consider that a blue chip blue corn chip stock
Kinda hard to buy when you dont have any fuckin money
If you didn’t buy so many pumpkin spice lattes and avocado toasts you would have been rich by now
Got it. I’m gonna have a nice hot avocado late and some cinnamon sticks on pumpkin toast
I’m starting to notice a problem…
Wait are you serious?
I’ve never joked in my life
Instructions unclear, invested life savings in pumpkin spice latte and avocado toast stocks
You god dang gen z’s are going to get my CFA designation revoked
I’m actually an elder millennial, but I guess I can hold off on any further investment until you get your Classified Fowl Arbitration cert reinstated 🤷
I renounced my Chick-fil-A designation after I got disciplined for playing the south park episode
I see you’re also an expert in bird law
When they should really come out 6 feet under.
What happened in 2002? Was that from the war on terror?
War of terror.
Didn’t that pay off so well. How many American soldiers were killed, injured, or traumatized? How many innocent Afghani and Iraqi civilians were murdered? And for what? ISIS and the Taliban now have complete control over that entire region.
And to the people saying how much better Bush was than Trump as well as the dumb as fuck democrats embracing that fucking war criminal Cheney, I say you all need to get your god damned head examined. Trump’s election denialism was born out of the Brooks Bros riot in Florida during the 2000 election and Trump is absolutely hoping for some terrorists to kill Americans so he can declare martial law and suspend elections in order to remain president indefinitely. Bush and Cheney lead to this. This was every republican’s goal.
Worth remembering that Trump didn’t recreate the Republican Party, he just embraced the manipulative aspects of republicans and made that his entire thing. Would I rather have Bush or Trump? It’s honestly a tough one. I could see Trump killing our democracy. Maybe that’s worse than the Iraq and Afghanistan war war.
9/11
That didn’t cause a significant economic downturn, though.
It absolutely did, at least for anything travel related.
End of the dot com bubble.
https://en.m.wikipedia.org/wiki/Stock_market_downturn_of_2002
But it happened mostly in 2000:
https://en.m.wikipedia.org/wiki/Dot-com_bubble
And coincidentally 9/11
The September 11 attacks also contributed heavily to the stock market downturn, as investors became unsure about the prospect of terrorism affecting the United States economy.
Was the 2002 a year of recession? Or is the stock market downturn considered a recession because rich people lost money?
Unlike wealth, losses usually trickle down. When companies go bankrupt their employees loose their jobs. Millionaires actually love recessions, Jack Welch said:
Never miss out on an opportunity like a good recession.
The 2002 recession was not as global and universal as later ones. The dot com bubble mostly affected tech companies, and the internet was not as common as nowadays. I asked my parents once how they felt that recession, when I first read about it later, I was in school in 2002. They said they didnt even know there was a recession that time, in eastern europe it wasnt noticably worse than the chaos of the 90s
There is a simpsons episode about the bubble, s13e18, aired in 2002:
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Seems to math to me? 2002 to 2008 is 6 years, 2008 to 2020 is 12 years, 2020 to 2025 is 5 years
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Don’t worry. People like my parents will blame poor people for accepting loans that they can’t pay.
Respectfully, why the fuck would you buy yourself a $100,000 truck?
Could need a pickup with the tool boxes and shit built in, or maybe a hydraulic lift. My family owned a construction company for decades, and we always had one of those in the driveway, and while I don’t know how much they were, they were definitely more expensive.
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$100k? Suspicious, not sure the cybertruck is the investment you think it i/s…
He works with software so it’s probably because it occasionally snows where he lives and his micropenis.
Ahh I see… that checks out lmfao
After skimming @[email protected] post history I didn’t notice anything about working in tech nor having it snow where they live, but I did notice a lot of posts about killing their neighbors, which was concerning to say the least
I did a quick check and they’re definitely Canadian and recently went to CES. So I think “snows” is a given and “works in tech” is extremely likely.
I really hate looking at people’s post history though, so please don’t harass person.
See, I exchanged my 100% S&P500 401k to SPAXX in December, waiting for the crash. I’ve made 10%~ doing nothing! It took me a while to realize, but I’m finally going to buy the dip.
What a visionary. This guy fucks, am I rite?
How can you make 10% in a few months when spaxx annual return is less than 5%?
The delta between the losses in the S&P 500 and gains in SPAXX.
#MATH!
For the folks slow on the uptake, my ape brain has seen enough crashes to finally realize what was coming, and I got out at peak and going to jump back in after it dips to a certain threshold.
You netted 10% vs broad market. You “made” 2%
You literally stated the story of my fucking life.
It starts to make sense when you realize that each of those events is basically a fire sale for billionaire investors.
Just look at income inequality before/after each of those events.
This is the truth.
The economic crisis’s have all been real, they all really have been huge events that have restructured life for everyone, it’s just that they’re not accidental, they’re not unforseen consequences of policy decisions nobody could have imagined… they’re engineered, or foreseen with great clarity.
And every time, the rich get richer and the poor get poorer and the so-called middle-class shrinks even more. Prices go up, we all have to work a few more hours in the week, we get less in return, our future dreams dwindle, and we plug into social media and AI slop and drugs and alcohol to placate us while we say “I just gotta save up enough so I can…”
And those savings NEVER increase. There is always some event, some family crisis, some medical problem or a car breaks down or your parent dies or the company you work at gets bought out and your 6 years of experience only makes you a liability for the new management team who wants to make a culture of “young, energetic pioneers.” (who they can pay less.)
The wealthy are at their happiest and strongest when they exist as they have for centuries, land-owners up high, living off the hard work and struggles of thousands of people beneath them, shaving a bit off everyone’s pay, offloading their problems to people who are already struggling. They want to run around in the manor and keep getting wasted and banging winches while we serfs toil in the fields we don’t own.
Seeing shit like this play out just makes it harder to keep going. At this point it’s a matter of when I do it, not if. What point is there if it’s only getting worse? I’ve seen my best years by now
Your choice, of course.
But there’s something to be said for living as well as well can in spite of the bullshit. Especially if there’s folks that rely on us.
The most punk thing for me to to as a person of queer is to keep living, but God is it hard to find the spirit.
I get that.
I take some comfort that - I know I won’t outlive every asshole, but I think I can outlive a bunch of them.
(This bunch in particular. A bunch of them are ancient.)
I wish upon a star that we could be a generation that takes power back for the average worker and uses our strength in numbers as leverage to have a better quality of life by making the wealthy pay their fair share.
But it’s looking like our historic legacy is going to be that of a fool generation that votes against their own interests and refuses to stand up for themselves.
A very embarrassing time to be an American.
we could be a generation that takes power back
The bigger problem right now is that unlike revolutions of old, this time there are millions of people who adore and cherish their overlords and would literally fight to the death to protect them for no other reason than ideological.
Even if it all went down tomorrow, even if we all locked arms and marched on Washington and installed a group of compassionate leaders who want to make sure all people are treated fairly and that we all had basic rights… we would still have to share this land with the millions of people who hate us for wanting better outcomes. There would still be hostile, evil forces twisting the minds of the stupid into hating their neighbors.
It’s such a larger problem than the wealthy hoarding all the money. We’re facing the absolute limit of human capacity to mitigate outside influence, we have every possible entity, commercial or political, trying to make us feel a thing, make us think a thing, make us serve them. We are attacked all day from every side with malicious lies and narratives meant to make us be quiet and hide. Even if it doesn’t work on most of us, if it only works on a fraction of a fraction of the people, we still have millions who hate you and want you dead simply because you might think that your tax money should go into making all our lives better equally.
Reactionaries are paper tigers. They’ll flee or switch sides when the going gets rough.
The bigger problem right now is that unlike revolutions of old, this time there are millions of people who adore and cherish their overlords and would literally fight to the death to protect them for no other reason than ideological.
This is a message the media owners want us all to accept.
In my experience, very few people want to die or commit violence for some billionaire’s agenda.
Most people just want to live their lives and maybe live to see the assholes in charge have to pretend to care what the rest of us think.
For your own mental well-being, stop reading the news. Unsubscribe and block all news communities.
By all means everyone should take breaks from the media and not doomscroll constantly. But if you disengage completely you will have given the people making the world like this everything they want. They want you to be apathetic and disengaged. They want you to stay home on every election day. They want you to ignore everything they are doing, because criminals can work better when there’s no one watching what they are doing.
So, for your mental well being please do take regular time off from the 24hr news cycle but also, look into how you can help to turn back the tide. See where you can volunteer if you have the time, join your PTA and keep an eye on your local library (these have been major targets of right wing nut jobs looking to undermine progress), or if you are too busy then just simply repost the positive messaging from those few in our government who are doing all they can to hold the line against this regime. Challenge the thoughts of those you know who are either giving in to apathy or voted for Trump but are even slightly doubting his actions. Every crack can be a door. And, most importantly, VOTE IN EVERY ELECTION.
Many of us are ambivalent. We are overwhelmed by the terrible things happening around us. We can stick our heads in the sand, but we can’t help fix things if we don’t know what is happening. I take breaks from Trump/Musk news, but I can’t stay away forever if I want to fight for my family, and maybe my country.
That is what a third of non voting Americans have done and its working out great for all of us. /s
I didn’t say don’t vote. You can look stuff up around election times. But general day to day there is really no point in looking at the news.
I didn’t say you said don’t vote. I said that the type that doesn’t pay any attention until it affects them is the type that doesn’t vote.
Not gonna happen. Ignorance is what got us here.
Don’t forget - you were also BORN into a once in a generation economic crisis: The savings and loan crisis of the 1980s and 1990s was the failure of approximately a third of the savings and loan associations in the United States between 1986 and 1995. These thrifts were banks that historically specialized in fixed-rate mortgage lending.
Wait, I miss this, did a new recession just drop?
We were in the beginning stages of a recession Sept 2019, before COVID hit, and the Trumpster is doing the same shit now, so…
Not officially, no.
But yes, it’s already here.
We never really recovered from COVID.
If it hasn’t yet it’s about to. 1-5% daily drops across the stock market for the past month pretty much and now with a 10%+ minimum tariff on all imports means everything is going to get way more expensive. I’ll chew a brick if we’re not in a recession by the end of the year
At that point, is it a recession or should we just call the 2020s: depression part 2 AI boogaloo?
Yeah I’m pretty sure it’ll end up turning into the Great Depression 2.0 with ✨AI Enhancements✨
I heard this with that stupid woooww sound every IG post has in it
That brick might be your only source of essential minerals and nutrients by the end of this year. You’ll need to learn how to go without, and make that single brick last until 2028. Also, you’ll need to work 80hrs a week to afford it.
At this point I’m just ignoring my 401k and hoping time in the market makes up for this fuckery…
Just keep contributing the same amount if you can. Best case scenario you are buying low and it will go up a lot in the future, worst case is money is not worth anything so it doesn’t matter anyway. Unless you are retiring in like, 5 years, then you might be fucked.
Yeah, this is pretty much where I am right now. And no, I’ve still got 2-3 more ‘once in a lifetime recessions’ to live through before I retire, which is why I’m ignoring it. That’s future spooky’s problem.
…fucked
This tracks as generation’s are getting increasingly closer together now. I’m supposedly the same “generation” as people who graduated from school before I was born. Last few years there’s a new generation every few months - zoomers, generation alpha, beta cucks, etc.
