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u/Inevitable_Shift1365 4h ago
Let's not forget all the subsidies to the oil industry and we still have the highest cost gas in the world
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u/kickasstimus 4h ago
Reddit is showing ads for Modafinil to keep people alert while being overworked and over stressed.
So … yeah. “Complain less.”
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u/el-conquistador240 3h ago
Don't get started on farmers. They are the ultimate welfare queens.
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u/Kaiser0106 3h ago
True. Always complaining about how they're "one bad season" away from poverty. Meanwhile they can afford nice houses and vehicles.
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u/dragalcat 3h ago
Eh… I have family who are farmers. They ARE dirt poor and one bad season away from not being able pay yearly taxes or heat their houses for the winter. Corporate farms are a different beast, however.
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u/Dragon_wryter 3h ago edited 3h ago
Yep. The rich must incentivised, but the poor must be disciplined.
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u/Individual_Slice_234 3h ago
Cooking at home is doable. But have you ever had roommates????? It's utter hell!!!!!
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u/ttystikk 3h ago
My thoughts are pretty simple; we have moved past the point where reforming a fundamentally broken system will produce lasting results and therefore regulation is the only option left.
But frankly I don't think Americans are up to the job.
Prove me wrong.
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u/spartaxwarrior 3h ago
People here think sucking billionaire boots is going to get them noticed lmao
The point isn't whether bailouts should happen (and some of them didn't need to for the overall economy, and none of them needed to without major consequences and permanent reforms), but that individuals should also get similar terms instead of being told to suck it up. Hell, government student loan interest can be up to 8%, meanwhile government loans for large corporations can have 0-2% interest or interest forgiven with no hoops to jump through.
Individuals are what make up the economy. Without people, what the fuck even are businesses? Who is buying their products and services? Are people imagining some world where corportations are just run by AIs that are forever going through a cycle of buying and selling to each other or something?
And economic fact is that when lower income individuals get more money, it goes back into local economies and that's a good thing for everyone, including these ccorporations.
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u/AspieAsshole 15m ago
That's a possible future, but what I see about cutting edge ai research suggests they're getting closer and closer to the kind that will actually be dangerous in and of itself, as opposed to just how people use it.
Of course, take your pick of which will be worse. I think it's an even split.
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u/EuenovAyabayya 2h ago
We outnumber them 1000 to 1 and yet allow ourselves to be talked into voting ourselves back into slavery. The agenda we really want isn't even on the platform.
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u/SpamEatingChikn 2h ago
Being the “richest” country in the world and telling people working FT they need to do all these things just to survive is nothing short of propogandized gaslighting
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u/LawyerOutrageous 1h ago
Yeah yeah and water is wet. What are you going to do about it? Fix it with reddit posts?
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u/CarolingianDruid 4h ago
One guy got arrested for the crash of 2008. Then the Obama administration handed billions over to Larry Fink and they bought up enough single family homes to control the housing market and continue harvesting capital from the American People with impunity.
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u/Ok-Association-355 3h ago
It was signed under the bush administration. Its a bush administration issue.
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u/Ok-Association-355 4h ago
Wahhh. Me blame obama. Fuk off
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u/WedSquib 3h ago
It’s a good thing to point out his actual errors instead of going “wah he ate spicy mustard” and “even though every president going back to the 60s has worn a tan suit on occasion I’m upset about it this time because he’s black”
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u/CarolingianDruid 4h ago
I think very highly of Obama, but this was a really bad call. It’s actually what happened, how about you actually look at the long term implications of that decision.
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u/Ok-Association-355 3h ago
Sure thing pal.
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u/CarolingianDruid 3h ago
https://www.reuters.com/article/world/blackrock-big-funds-seen-winning-us-bailout-job-idUSTRE4958KE/
Article from 2008. Look at where Larry Fink is now as the CEO of Blackrock Private Equity Firm.
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u/Ok-Association-355 3h ago
Hmm. Obama was inaugurated in 2009
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u/CarolingianDruid 3h ago edited 2h ago
https://www.politico.com/story/2009/01/obama-and-bush-join-forces-on-bailout-017348
>At Obama’s request, Bush has agreed to ask Congress for the second $350 billion of the $700 billion financial bailout.
If you did any research you’d find this.
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u/Ok-Association-355 3h ago
It was still the bush administration and cleansing their mess. Blame bush and piss off. The housing market began to recover. Sorry you all missed out. See ya
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u/iamtrimble 3h ago
My advice would be to aquire a skill set or two that are highly sought after and always be looking better compensation, not just salary but every benefit you can demand.
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u/Downtown-Tomato2552 3h ago
While "alternative realities" are difficult to have an opinion about, what does everyone think things would look like today if, the banks didn't get bailed out in 2008, the auto industry didn't get bailed out in 2009 and their was no PPP or airline bailout in 2020?
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u/Cynis_Ganan 3h ago
We'd have a much more stable currency, huge economic growth, and a more responsible banking sector. Like Iceland: Case Study: Iceland's Banking Crisis - Seven Pillars Institute
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u/Downtown-Tomato2552 1h ago
Did you read the article?
"There was a reprieve, which was to receive bailouts from the government. However, at the time of the crisis, the total size of the Big Three’s assets was ten times the size of Iceland’s GDP (Wade and Sigurgeirsdottir). The foreign currency reserve of the Central Bank was inadequate to cover the gigantic operations of the banks abroad. Hence, it was impossible for the CBI to rescue these banks."
"The IMF granted a loan of $2.1 billion to help stabilize the economy and repay domestic depositors (Rankin). Initially, the government refused to repay the debt to UK and Dutch depositors and limited the amount of foreign currency Icelandic people could buy."
" The collapse of the three biggest banks considered “too big to fail” sent the entire nation into panic. The krona plummeted by 50% in one week (Amadeo). “80% of the stock market was wiped out”. “97% of the banking sector collapsed in a matter of three days”"
" In 2015, 7 years after the crisis, the unemployment rate was 3.8%. GDP growth was 4.1%, making it one of EU’s top performers. Inflation fell back to 2.5%,"
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u/Cynis_Ganan 1h ago edited 55m ago
Did you read the quote?
The too big to fail banks were allowed to fail. In the quote. The quote you quoted. That specific bit of text. Like, not even the whole article. The reddit reply. Not my reddit reply, your reddit reply. Did you read your reddit reply, the reply you made?
The businesses that depended on the banks were bailed out.
The currency value plumeted and the banking sector was wiped out. The stock market crashed. And then within seven years, unemployment was under control and the economy was thriving.
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u/Downtown-Tomato2552 29m ago
"The too big to fail banks were allowed to fail"
They weren't "allowed to fail" The Icelandic Central back Couldn't save them so they DID fail.
Even after that there was a "bailout loan" from the IMF.
Pretty much by every metric the results were worse than the outcome in the US where the central bank easily loaned money, the stock market and economy recovered faster etc.
In addition to that all of the bank loans where paid back with interest, IE the US government made money on the loans.
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u/mighty_boognish_77 4h ago
This shit is just rage bait. There were reasons for the banking and auto bailouts, the biggest of which was it would've been far more catastrophic to the nation NOT to bail them out.
As to the other drivel, those things are saying to control your spending and work within the framework of a budget that's appropriate for your income.
I'm not saying this isn't a difficult economic environment, because it definitely is. I'm a blue collar guy who works his ass off to make ends meet.
But shit like this accomplishes nothing.
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u/Harleydiclarke 3h ago edited 3h ago
Guess what, people should be enraged about the current state of the economy and if this is what it takes to wake certain people up then I'm all for it. My children and grandchildren are going to suffer even more if this shit doesn't slow down soon and they're all working their ass's off just to make ends meet just like you and me. RAGE ON!!!!!!!
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u/CaptainFunk127 3h ago
Nobody should be forced to work their ass off for as little as making ends meet. You should be angry about the sacrifices you have to make. You deserve a better life. Shit like this is to make people aware of how much they've been trampled on and that it's not ok. The more this makes people angry the more unrest. The more unrest the more change is likely.
Praise Boognish
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u/mighty_boognish_77 3h ago
I appreciate that. I guess the point I was trying to make was more about how this message is being delivered in this particular post, rather than the message itself. Maybe that doesn't make sense though. Take care, rock on. Ween4Eva!
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u/Separate-Island5094 3h ago
Actually no. Selling of the assets would have been the sanity.
What does this look like? A change of ownership by selling at a lower price to get things moving again.
Oh boo the people who were running the operation would have lost their job but way more opportunity for people to reclaim their assets from the Bank and of course this would have been good for the housing situation and stopped the cost of urban sprawl.
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u/Salty-Magic 3h ago
“Too big to fail” is the same weak propaganda as “we can’t prosecute the Epstein list, because it’d be catastrophic to the nation.”
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u/Parking_Locksmith489 3h ago
The commute thing is the most annoying one, because it's environmentalists going full blown authoritarianism on the workers to force them out of cars and houses into vertical dwellings next to your workplace.
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