this post was submitted on 21 Oct 2024
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[–] [email protected] 9 points 2 months ago (1 children)

Anything can happen. We can discover time travel tomorrow. The economy cannot run on wishful thinking.

[–] [email protected] 0 points 2 months ago (2 children)

It can! For a while. Isn't that the nature of speculation and speculative bubbles? Sure, they may pop some day, because we don't know for sure what's a bubble and what is a promising market disruption. But a bunch of people make a bunch of money until then, and that's all that matters.

[–] [email protected] 5 points 2 months ago (1 children)

The uncertainty of it is exactly why it shouldn't suck up as much capital and resources as it is doing.

[–] [email protected] 1 points 2 months ago (1 children)

Shouldn't, definitely. But for a while, it will keep running, because that's how a lot of speculative investment works.

[–] [email protected] 5 points 2 months ago (1 children)

I agree, and the problem is finance capitalism itself. But then it becomes an ideological argument.

[–] [email protected] 0 points 2 months ago

The argument could be made economically rather than ideologically.

Capitalism has a failure mode where too much capital gets concentrated into too few hands, depressing the flow of money moving through the economy.

But Capitalists start crying "Socialism!" as soon as you start talking about anti-trust.

[–] [email protected] 4 points 2 months ago

Tulips all the way down..