Can we slap a big giant Biden "I Did That" sticker on the economy now?
this post was submitted on 31 Jan 2024
7 points (65.2% liked)
politics
24628 readers
3160 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 2 years ago
MODERATORS
... is it really a war if it's with our allies? We all benefit when we all succeed.
Russia is in the Shitter due to war and China just imploded (see Stock Market / Shanghai index as well as Evergrande)
Which enemy are you trying to compare us to? Iran? North Korea? Taliban controlled Afghanistan?
US dollar is very strong.
But the comparison being made in the article is with Japan, the UK, Germany, etc.
Yeah, because those are the other nations with an actually improving economy.
I guess China nominally has 5%+ growth, but the stock market and unemployment makes it seem like a fake figure.
I’m not sure how long Germany and Japan will do well though. Demographically it’s as bad as China. The U.S. will be one of the few economic winners over the next couple decades
Germany and Japan don't have to worry about their largest Real Estate company being a massive fraud. (Evergrande) and that all the loans they issued going bankrupt. Both countries have (slightly) improving stock markets, while China's stock market has been in decline for years now.
China suffers from so much youth unemployment that they also stopped publishing the figure. Its... really really bad actually. All the signs are pointing to massive amounts of falsification of records, rather than being honest in China. Suggesting that yes, China's economy is terrible and they want to hide that fact from the world.
Japan and Germany have long-term problems. But China has short term problems occurring right now. Its not even comparable.
Our global Market Capitalist system is wholly incompatible with "We all benefit when we all succeed." It punishes that and rewards the opposite by design.
Our global economy is about getting mooooaaaaar than the person/nation on the other side of the table, and about exploiting people.
The core principle of market capitalism is to give the people hoarding capital most new capital that is generated, while separating the people that generate that capital from the capital they generate. It's a vicious cycle meant to keep power, which capital is, safe from the unwashed masses/capital livestock.
Mutual benefit is what market capitalism is designed to prevent.
Our global market capitalist system is wholly compatible with "We all benefit when we all succeed." In fact, one might argue that's the foundation of an efficient market economy. The problem is that it also incentivizes decision-makers to maximize firm benefit at the cost of general society, and the past 40+ years of neoliberalism brainrot have unleashed an investor-class with very few restraints on their decision-making.
You look at this global economic system and think its broken and needs to be repaired. I look at this global economic system and think it's doing exactly what it was designed to do and needs to be replaced.
I hope you're right and I'm wrong. Our many species threatening crises would be a lot easier to address, and us humans, we love the idea of easy. But that economy through its proponents has been claiming to be the sole entity that can solve all the problems it's created for those 40+ years of being unshackled from meaningful regulation, and the problems of inequity, corruption, regulatory/governmental capture, exploitation, and oh yeah the very air we all COMMUNally breath have only gotten significantly more dire as a direct result of market actions, and those markets have only entrenched themselves deeper into the decision making processes of the world governments once meant to keep them in check once upon a time.
You say brain-rot is the cause, but I say this system is designed to cause that brain-rot. It turns regular people into practicing sociopaths.
It's all academic though. You can't get the market capitalists to suddenly be nice, consider how their actions effect others, and think about how everyone can win, and I can't lower them into acid. They're gonna do what they're gonna do, because capital is power and they have almost all of it. No matter what you or I believe, their madness and destruction of civilization and Earth's biome will proceed.
I mean, I believe that capitalism has outlived it's usefulness and has few answers to the problems we face. I simply also believe that the system itself isn't optimized for a zero-sum mentality.