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Business, Economics, and Taxes: Capitalism. Yay? >=(

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ScoobyDoo said:
To eliminate the chaff.

I wish there was a lot more of this to be honest. Everyone is consolidating stuff that doesn't need consolidation.
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I do too. I'm just surprised because companies usually don't break up like this. Not into chunks this big. Usually it's it spin off a single entity with liabilities or aren't profitable. This is a fracturing. It's very uncommon.
 
If their sources are correct (NY Times seemed to say otherwise but their story was from I think yesterday) China could be in for a world of hurt...which means everyone is.
 
If I knew the Chinese real estate market was a bubble then all the smart money already knew and already got out.

Let it all implode. If that's not baked in let the entire financial services industry go bankrupt. We'll dig out and the ticks will have been burned off.

Should have done it 15 years ago. Too big to fail is too big to exist.

I'll give up my retirement and eat cat food if it means my kid and grandkids are finally free of the banks and the Plutes.
 
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You are smart enough to know it isn't that easy. Fascism doesn't go away just cause economies fail...in fact they gain traction. If China screws this up the Right Shift worldwide will be massive.
 
Handyman said:
You are smart enough to know it isn't that easy. Fascism doesn't go away just cause economies fail...in fact they gain traction. If China screws this up the Right Shift worldwide will be massive.
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Last time this happened, Germany ahem mislaid 90% of their morons for the next 75 years. (With a little help from the outside world, and at some cost.)

But hey, the rebuild will be good for jobs, and Phoenix won't look any different as a post-nuclear war hellscape.
 
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On another note, it feels a bit odd having today off, like I should be doing something with the time. My new firm observes Veterans' Day, MLK Day, Washington's Birthday, and Juneteenth in addition to the usual holidays.
 
FadeToBlack&Gold said:
On another note, it feels a bit odd having today off, like I should be doing something with the time. My new firm observes Veterans' Day, MLK Day, Washington's Birthday, and Juneteenth in addition to the usual holidays.
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My company stopped observing "minor" holidays, so now the only ones officially observed by the company are New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas. Instead of the minor holidays, they gave everyone an extra 5 days of vacation per year to take whenever they want (previously these were "floaters", but unlike vacation time floating holidays couldn't roll over). It probably makes things easier now that we have operations in China and Japan.

So anyway, that means I'm working today.
 
Handyman said:
You are smart enough to know it isn't that easy. Fascism doesn't go away just cause economies fail...in fact they gain traction. If China screws this up the Right Shift worldwide will be massive.
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But fascism also occurs when corporations are too big to fail, are so pervasive and persuasive that they’re as powerful, if not more powerful, than governments themselves.
I don’t want the entire economic order to collapse per se, but just rescuing these huge firms because they speculate beyond belief with borrowed money isn’t a good long-term solution either. They’ll just keep doing it over and over again.
 
psych said:
But fascism also occurs when corporations are too big to fail, are so pervasive and persuasive that they’re as powerful, if not more powerful, than governments themselves.
I don’t want the entire economic order to collapse per se, but just rescuing these huge firms because they speculate beyond belief with borrowed money isn’t a good long-term solution either. They’ll just keep doing it over and over again.
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Exxon having enough money to bribe Joe Manchin isn't fascism.
 
psych said:
But fascism also occurs when corporations are too big to fail, are so pervasive and persuasive that they’re as powerful, if not more powerful, than governments themselves.
I don’t want the entire economic order to collapse per se, but just rescuing these huge firms because they speculate beyond belief with borrowed money isn’t a good long-term solution either. They’ll just keep doing it over and over again.
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I am not advocating for China to prop them up just like I didn't advocate for the US to prop up the banks. (Rover got very angry with me back in '08) but to pretend the 2 situations are the same is a ridiculous oversimplification.

Fascism isn't on the rise here because of corporate greed (though they enable it) it's because people are too blind and too stupid to stop it. dx is right Exxon being able to bribe Manchin isn't fascism it is the perfect outcome for Capitalism run amok. If the China economy fails it won't be just them that feel the brunt it will be the EU, the US, Britain and most of Asia. (many of whom are having similar Right Wing issues as us) We are talking possible Great Depression level crash and burn. (obviously that is the worst case scenario) The last time something like that happened we fought a World War over it.
 
psych said:
But fascism also occurs when corporations are too big to fail, are so pervasive and persuasive that they’re as powerful, if not more powerful, than governments themselves.
I don’t want the entire economic order to collapse per se, but just rescuing these huge firms because they speculate beyond belief with borrowed money isn’t a good long-term solution either. They’ll just keep doing it over and over again.
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No offense, but I hear a lot of this from righties lately. "The merger of big corporations and big government = fascism!" No, it doesn't, and that just proves you don't know what fascism is.
 
I have the most unusual Minnesotan coworker I've ever come across today.

He talks. A lot.

It's like working with a New Yorker, but he has an MN accent.
 
I know plenty of motormouth minnesotans. Just not with people they don't know usually :-D (Even then there are some who are like that. Usually dirty transplants though.)
 
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