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This wouid be my... Hmm... Third... I think...?... Once in a lifetime historical market crash. The 2008 one stole my teenage years.
You know, guys, I'm starting to get this strange feeling that our economic model doesn't really work.
Infinite growth in a finite reality. Numbers go up up up but minerals and food don't exponentially grow, in fact they deplete.
Shareholder profit > sustained profit is what broke it.
There's nothing wrong with say, Mark Cubans drug store model of 15% capped profits. If it were publicly owned however it's legally liable to pump that up to infinity until the model breaks for shareholders to make quarterly gains. Short term thinking replaced long term strategy.
Even Costco knows you keep the $1.50 hot dog as a loss leader but if it were up to the ghouls in suits it would be $6.99 today and $7.99 tomorrow.
I don't think the issue is growth related, I think it's rather about more and more money going to the top 1%. And that issue is accelerated in USA due to badly regulated corporate capitalism. Greedy shareholders and short time thinking are signs of that, because they keep getting away with it. Looks like this isn't going to change until there is a massive crash..
Isn't that just the other side of the same coin?
It's the top 1% that is pushing for the short term gains... It's being accelerated because everyone else and their pension funds try to match or beat them at it...
Unfortunately, it seems we’re reaping what we sow by switching from Keynesian to Neoliberal economics. It was going ok when the demand side had money to spend. We’ve had several decades of paying for that now.
The model everyone should want is unionized-cooperatives for every existing and new company
Sharing all the profits in the company for all companies
Also, for those companies to stay private and not go on stock market if they want to stay sustainable, & grow well
That's the biggest thing that would change alot of stuff
I certainly want it. As a matter of fact, as of yesterday, I'm now a co-representative of my workplace's union club. I wholeheartedly stand for unionised cooperatives.
Good on you!!! Hope you can inform more people about them too so they can make their own unionized-cooperarite in their own company, or a new company
That's part of the job. Though here in Denmark we have very strong union laws to begin with. However, my particular job has a lot of foreigners in it, from places like Bangladesh (a country with very poor worker's rights), so informing them about the strength of unity and solidarity has been very productive.
That's awesome, good on you all for helping other countries to have the same
When the stocks are up, some guys can buy a new yacht, when the stock market tanks, poor people lose their jobs.