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Cake day: June 17th, 2023

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  • When judges die while democrats have power, they nominate milquetoast compromise judges while republicans just go full far-right crazy. Democrats don’t fight to block the crazy republican judges nor do they even fight to get their own judges in. A great example is when Obama nominated Merrick Garland, an already lame pick, as a “compromise”. The republicans insisted on waiting until the 2016 election concluded and the next president was sworn in and the democrats didn’t fight back at all. Then as some dumb form of symbolism, they make Merrick Garland the Attorney General during Biden’s term and Garland proceeds to not prosecute Trump for four years. That should tell you how great he would’ve been as a supreme court judge.

    So even if democrats do get a judge in, it’s a compromised “centrist”. How do you think the court will end up when one side packs in far-right wackos and the other side puts in moderate right-wing losers? Seems pretty clear what the direction would be even if democrats won every election until the end of time.






  • I’m not arguing the market never comes back up, but there have been prolonged periods of time where markets do not recover to previous highs. After the great depression, the US stock market took about 30 years to recover to its previous high and continue growing (https://www.macrotrends.net/2324/sp-500-historical-chart-data). Similarly, it took Japan’s stock market 30 years to recover to its previous high (https://www.macrotrends.net/2593/nikkei-225-index-historical-chart-data) and it’s already on its way down.

    The stock market does not represent economic reality. There are too many tricks with leverage in many forms, including derivatives, which distort the true value. Too much importance is placed on this glorified casino and for the past few decades, the go-to solution has been to pump money into the system at any sign of trouble. It’s not sustainable to keep feeding this beast for the sake of the ultrawealthy who own the vast majority of it.

    A stock market crash does not necessarily mean a run on the banks. There was a run on the banks after the stock market crash of 1929 because banks were over-leveraged with loans used to pump the stock market. That same mistake is being made now, but the difference this time is the government guaranteeing deposits. There are other issues where the government may not be able to fulfill those guarantees, but at that point, is this fragile system worth keeping up? We can’t keep it up forever.

    It’s not FUD to point out that infinite growth is not sustainable. On the flipside, the permanent optimism of claiming the line will always go up in the end and not taking into account the amount of time it can take for that to happen is irrational. The key as always is to diversify, but the makeup of that diversification can vary greatly and the stability of the stock market is not guaranteed.







  • hark@lemmy.worldtoMemes@lemmy.mlFairy Tales
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    1 month ago

    About 90 million people listened to everyone and their (non-conservative) mother say how this might be the most important election

    We get told this every election, but then democrats cooperate with republicans every step of the way. Most recently, democrats had an opportunity to force a government shutdown and use that as leverage against the republicans, but instead they instantly folded like they always do. I recognized this pattern when Obama promised hope and change but then mostly continued Bush’s policies when he got elected (e.g. corporate bail-outs, deportations, and warmongering). Democrats follow republicans as they journey further and further to the right.