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The Trillion-Dollar "Correction".
#1
Headlines screaming how the world's richest ten guys lost $100 bn in the sharemarket dip going on right now.

Lots of people think it's the harbinger of a bigger crash, due to inflationary pressure: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11992189

The funny part in all of this is, I bet you have no idea what's driving inflationary pressure and why it's so disastrous for the rich.

Wages.

Yes, wages are rising, and this is a disaster for the oligarchs.

Fuck me.
Love is... that one person whose freshly-warm toilet seat you don't find disgusting.
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#2
So, rising wages, pissed off oligarchs   Huh   ... does this have anything to do with Trump??   Huh

I'm not used to hearing of that stuff happening in that order anywhere on 'lefty' forums, so fill me in. 
Are you delighted that things are turning around?  
Is there light on the horizon for the hopes of liberals? 
.... or is it the headlight of the Newcastle Express??    


... sorry, stir of the day. Blush  ...  you know I have to do it.  The counselling didn't work. Angel Big Grin


There have been some quite amusing performances by the 'money guru' reporters lately.  They've given up trying to keep that 'gravitas' about economics and explaining stock market action.  They know that we know it's bullshit so now they're making a bit of a joke of it, and not doing a bad job. 

It actually makes a lot more sense when treated with humour,  we 'get' how much of the stockmarket movement is based on sheer guesswork and hunches and scares and greed.  It makes it all more real to us.

... but like politics, sometimes you wish you hadn't seen the shonky machinery that drives it all.  It's sure not comforting.
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#3
I think it's a given that any progressive activity will hurt the bottom line of the regressive stronghold.

If we could re-institute slavery, the markets would go nuts.
(and of course, our for profit prison system is giving it a fair shot.)

War is good for the economy.
That's a troubling phenomena


At least it should be..
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#4
(02-10-2018, 06:17 PM)Di Wundrin Wrote:  So, rising wages, pissed off oligarchs   Huh   ... does this have anything to do with Trump??   Huh

Nope, nothing at all. He's not even a bit-player in it. Simple economics of supply & demand - and with growing economy, labour is in demand, hence higher wages, and higher wages = higher prices = inflation. Inflation is Satan to economists, which is pretty ironic, since the only thing worse than high inflation is no inflation.

(02-10-2018, 06:17 PM)Di Wundrin Wrote:  Are you delighted that things are turning around?  

It's all bullshit. The wage increases will be swallowed by inflation and everyone stays where they are, except interest rates increase, which will kill people who bought a house in the past 5 years.

I explained to a group of people late last year how wages had stayed static for a decade, which is fucking absurd.

Why house prices are excluded from inflation is a bigger con than Trump married to Bernie Madoff. Every reason for it is nonsense, and when/if the big crash happens, it will be fucking obvious to everyone that it's nonsense. Imagine having 10% "inflation" while house prices are declining? That's what we're going to see.

Stupid, stupid, stupid.

(02-10-2018, 06:17 PM)Di Wundrin Wrote:  Is there light on the horizon for the hopes of liberals? 
.... or is it the headlight of the Newcastle Express??  

Sadly, just the train...   A purely false dawn.

(02-10-2018, 06:17 PM)Di Wundrin Wrote:  ... but like politics, sometimes you wish you hadn't seen the shonky machinery that drives it all.  It's sure not comforting.

It's not. I wish I were a lot dumber.
Love is... that one person whose freshly-warm toilet seat you don't find disgusting.
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#5
Phew I'm glad it's all bullshit, I was afraid there for a moment things might have been looking up, what the hell would we talk about? [Image: yellow-laughing-smiley-emoticon.gif]

There is not so low rumblling here too about how house prices were dsconnected from the CPI and whatever, I'm not good at the acronyms. Inflation was going down and houses were going balistic, now it's starting to turn here too but housing is the colossal elephant in the room when it comes to all the cost of living figures and telling us how well off we all are. It doesn't add up.

Well, they say that "ignorance is bliss", they weren't kidding.
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