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Thread: The Automation Spiral (obligatory loleconomics thread v2)

  1. #1801
    GeromeDoutrande's Avatar
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    This is how the (Twitter verified) Bank of Jamaica communicates inflation targets:


  2. #1802
    mewninn's Avatar
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    https://www.nytimes.com/2020/08/27/b...me-powell.html

    Jerome H. Powell, the chair of the Federal Reserve, announced a major shift in how the central bank guides the economy, signaling it will make job growth pre-eminent and will not raise interest rates to guard against coming inflation just because the unemployment rate is low.

    In emphasizing the importance of a strong labor market and saying the Fed will tolerate slightly faster price gains, Mr. Powell and his colleagues laid the groundwork for years of low interest rates. That could translate into long periods of cheap mortgages and business loans that foster strong demand and a solid job market.
    Mr. Powell’s announcement codifies a critical change in how the central bank tries to achieve its twin goals of maximum employment and stable inflation — one that could inform how the Fed sets monetary policy in the wake of the pandemic-induced recession.

    The Fed had long raised rates as joblessness fell to avoid an economic overheating that might result in breakaway inflation — the boogeyman that has haunted monetary policy ever since price gains hit double-digit levels in the 1970s. But the Fed’s updated framework recognizes that too low inflation is now the problem, rather than too high.

    “It seems like a pretty subtle shift to most normal human beings,” said Janet L. Yellen, the former Fed Chair. But “most of the Fed’s history has revolved around keeping inflation under control. This really does reflect a decisive recognition that we're in a very different environment.”
    Powell rejects traditional Fed philosophy of steppy steppy on workers

  3. #1803

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    Aren't there record amounts of unemployed still around due to beervirus?

  4. #1804
    Movember 2011 RazoR's Avatar
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    Quote Originally Posted by depili View Post
    Aren't there record amounts of unemployed still around due to beervirus?
    When you lay people off in fear of economy crashing so the economy crashes because you laid people off in fear of the economy crashing




    I am fairly sure this was an actual segment on Daily Show but i cba

  5. #1805
    Lief Siddhe's Avatar
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    You must spread some Reputation around before giving it to RazoR again.
    I was somewhere around Old Man Star, on the edge of Essence, when drugs began to take hold.

  6. #1806
    Keckers's Avatar
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    So Tesla is apparently worth more than VW, Ford and Toyota combined?

    Absolutely no bubble to see here.
    Look, the wages you withheld from the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord of Hosts. You have lived on earth in luxury and self-indulgence. You have fattened yourselves for slaughter.

  7. #1807
    Donor Spaztick's Avatar
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    Quote Originally Posted by Keckers View Post
    So Tesla is apparently worth more than VW, Ford and Toyota combined?

    Absolutely no bubble to see here.
    Believe in Daddy Elon.

    Also Star Citizen is doing fine.

  8. #1808
    Movember 2012 I Legionnaire's Avatar
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    Quote Originally Posted by Keckers View Post
    So Tesla is apparently worth more than VW, Ford and Toyota combined?

    Absolutely no bubble to see here.
    Stock prices are based off perceived future value, not current value.

    I agree though, it's pretty nutso

  9. #1809

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    The stock market is just a mood ring for the investor class. As long as they're happy, it'll keep going up. Doesn't need to make sense.
    Quarantined and loving life.

  10. #1810
    Jack Coutu's Avatar
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    Quote Originally Posted by Steckersaurus View Post
    The stock market is just a mood ring for the investor class. As long as they're happy, it'll keep going up. Doesn't need to make sense.
    Yeah nothing is as useless to society as our current version of investment

  11. #1811
    Movember 2011Movember 2012 Nordstern's Avatar
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    Quote Originally Posted by rufuske View Post
    He's retarded, especially if he has some rare mints.
    Only one "rare mint" in the lot, worth $40. Most coins sold at a dealer, got $3k, which was in line with expectations.
    "Holy shit, I ask you to stop being autistic and you debate what autistic is." - spasm
    Quote Originally Posted by Larkonis Trassler View Post
    WTF I hate white people now...
    Johns Hopkins CSSE COVID-19 Dashboard

  12. #1812
    Malcanis's Avatar
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    Quote Originally Posted by Isyel View Post
    And btw, you're such a fucking asshole it genuinely amazes me on a regular basis how you manage to function.

  13. #1813
    Totally Not Larkonnis's Avatar
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  14. #1814

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    TSLA took a -20% shit today.

  15. #1815
    Movember 2011Movember 2012 Nordstern's Avatar
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    Quote Originally Posted by August View Post
    TSLA took a -20% shit today.
    VXX trailing stop executed, booked a 9% profit. I should have set the stop when it was $34, oh well.

    YTD return on stonks: 62.8%, outperforming all major indices. This sounds good until you realize I had a 64% return in June, and made the dumb decision to buy travel stocks then. Oops.
    Last edited by Nordstern; September 9 2020 at 12:03:24 AM.
    "Holy shit, I ask you to stop being autistic and you debate what autistic is." - spasm
    Quote Originally Posted by Larkonis Trassler View Post
    WTF I hate white people now...
    Johns Hopkins CSSE COVID-19 Dashboard

  16. #1816

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    I'm not a fan of holding VXX, but it can certainly work out. I take the other approach. When volatility becomes high, I wait until it reaches a high enough level then I buy option puts that expire two to three weeks out. I'm expecting VIX to be ugly this week and next week, so I'm sure there'll be more entry and exit points coming up.

  17. #1817
    dzajic's Avatar
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    Quote Originally Posted by Totally Not Larkonnis View Post
    1. Prison is not a utopia
    2. Ovecrowding experiment =/= utopia
    3. Rodents =/= homo sapiens

    Sent from my SM-G930F using Tapatalk

  18. #1818
    Shaikar's Avatar
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    Quote Originally Posted by dzajic View Post
    Quote Originally Posted by Totally Not Larkonnis View Post
    1. Prison is not a utopia
    2. Ovecrowding experiment =/= utopia
    3. Rodents =/= homo sapiens

    Sent from my SM-G930F using Tapatalk
    But Lark does self-identify as a mouse. Squeak!
    Quote Originally Posted by Candy Crush
    idiotic posts out of context

  19. #1819
    Keckers's Avatar
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    "Wouldn't it be great if we freed society from completely alienated work and social relations in order to allow people more time to chase authentic experiences and live fulfilling lives"

    "Actually we locked up a load of mice with plentiful food but they started eating their babies. Checkmate socialists"
    Look, the wages you withheld from the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord of Hosts. You have lived on earth in luxury and self-indulgence. You have fattened yourselves for slaughter.

  20. #1820
    The Pube Whisperer Maximillian's Avatar
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    The mouse utopia experiments were about the effects of overcrowding not socialism. While there is a lot of debate in behavioural psychology circles over the results the idea was that once mice / rats were forced into near constant interaction - referred to as hyper-socialisation - that normal rodent behaviour went haywire and aberrant behaviour took hold. Rodents born into such conditions never regained normal behaviour even when they were removed from the experiment, meaning the population became extinct.

    In fact you could compare the results more to the effects of social media than to prisons or socialism.

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