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Thread: The Automation Spiral (obligatory loleconomics thread v2)

  1. #3401
    Movember 2011Movember 2012 Nordstern's Avatar
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    Quote Originally Posted by August View Post
    ARKK's returns since its 2014 inception has now underperformed the market. And they're still double downing on the dumb. Meanwhile, Cathie Woods was partying in the Bahamas two weeks ago. Must be nice.
    I bought ARKX the first day because I wanted to get in on the ground floor. The elevator has since gone to the sub-sub-basement. Stubborn me refuses to get off.

    Other me watches all the WSB loss porn while sitting on his intact GME dragon's hoard, ready to buy "create jobs".

    edit: Oh, looks like Wayfair has given back all it's pandemic gains.
    Last edited by Nordstern; May 11 2022 at 01:13:19 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...
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  2. #3402
    The Pube Whisperer Maximillian's Avatar
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    The age of free money is coming to an end. Any Corporation that has used debt to expand and cannot make a profit from normal operations is now on a countdown to insolvency.

  3. #3403
    Keckers's Avatar
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    Don't underestimate the ability of the financial system to change the rules in order to keep the game running.
    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.

  4. #3404
    Movember 2011Movember 2012 Nordstern's Avatar
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    If a publicly traded company burns through 94% of the cash raised in its IPO in one year, what are the chances of:

    - bankruptcy within six months
    - another share offering within six months
    "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 (updated link)

  5. #3405
    The Pube Whisperer Maximillian's Avatar
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    It's the Sunk Cost Fallacy, where the inability to walk away from money already lost means pouring in more money in the hope of rectifying the situation. But with interest rates rapidly climbing everyone is looking at their own balance sheets because the cost of servicing debting is increasing by multiples over just a few months.

  6. #3406
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    Cryptos vomiting all over themselves. I sold most of my stuff so I’m liking this. Down about 30% (eyeballing) on the stuff I did hold though, lmao. Hope no one still has Luna.

    Edit: I almost put 10k down on Luna a few months ago to take advantage of the interest rates. Thank Jesus I didn’t because I just know that my retarded self would HODL and be completely wiped out in a matter of two mere days. I ended up going with the path of taking advantage of bank sign up bonuses to basically get 10% interest rates lmao.
    Last edited by August; May 11 2022 at 01:30:42 PM.

  7. #3407
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    Double posting for the sake of FHC: you may want to take your cryptos off Coinbase. Maybe I’m paranoid but their stock prices are plunging and they have a new bankruptcy policy that will fuck you up.

  8. #3408
    rufuske's Avatar
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    Everything will give back their pandemic gains. The whole exercise in money printing will result in prices still going to their rational level, while every 'poor' will be loosing money via inflation and downright depreciation of their retirement funds. Face it. Investment bankers used covid as an excuse to runaway with trillions and now everyone will foot the bill. Goldman, JP, BNY, City, BofA are having time of their life with excess liquidity, CS is still dealing with Archegos fallout, Deutsche would be the one coming on top, but Ukraine happened, and that sweet, sweet oligarch laundering money is currently out of reach. HSBC is sitting in a corner wondering if there is anyone realizing who was borrowing money for all the chineese companies with Evergrande still being insolvent, but propped up, because if it defaults everyone is fucked since everything with a vague smell of it won't pass as collateral. So everyone moves to dumping their crypto reserves to skew financial reports coming up.

    Tl;dr whole financial system is fucked, and if people knew anything about big money banking there would be riots. But JP will sponsor another LGBT parade and everyone will get pent up arguing about it, with noone left to look in the books.
    Last edited by rufuske; May 11 2022 at 08:07:18 PM.

  9. #3409

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    Quote Originally Posted by rufuske View Post
    Everything will give back their pandemic gains. The whole exercise in money printing will result in prices still going to their rational level, while every 'poor' will be loosing money via inflation and downright depreciation of their retirement funds. Face it. Investment bankers used covid as an excuse to runaway with trillions and now everyone will foot the bill. Goldman, JP, BNY, City, BofA are having time of their life with excess liquidity, CS is still dealing with Archegos fallout, Deutsche would be the one coming on top, but Ukraine happened, and that sweet, sweet oligarch laundering money is currently out of reach. HSBC is sitting in a corner wondering if there is anyone realizing who was borrowing money for all the chineese companies with Evergrande still being insolvent, but propped up, because if it defaults everyone is fucked since everything with a vague smell of it won't pass as collateral. So everyone moves to dumping their crypto reserves to skew financial reports coming up.

    Tl;dr whole financial system is fucked, and if people knew anything about big money banking there would be riots. But JP will sponsor another LGBT parade and everyone will get pent up arguing about it, with noone left to look in the books.
    aye

    And there are the marbles of industry like the Philips ceo getting near 2 million in bonus despite having lost >700m because of the faulty apneu machine failures and 80% of stockholders voting against or the dutch national airport/klm despite getting 3 bill in covid money still paying their behind the scenes baggage handlers and other personnel less than a shelf stocker in a supermarkets earns because 'they cant afford it'. Airport did pay back 350m to the state who -low and behold- holds 70% of the shares themself.

    Fucked up shit man

    Also a standard beer is now 3,60 euro looooooool get rektd i turned my balcony into a bar
    Schopenhauer:

    All truth passes through three stages.
    First, it is ridiculed.
    Second, it is violently opposed.
    Third, it is accepted as being self-evident..

  10. #3410
    rufuske's Avatar
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    Quote Originally Posted by Sacul View Post
    Quote Originally Posted by rufuske View Post
    Everything will give back their pandemic gains. The whole exercise in money printing will result in prices still going to their rational level, while every 'poor' will be loosing money via inflation and downright depreciation of their retirement funds. Face it. Investment bankers used covid as an excuse to runaway with trillions and now everyone will foot the bill. Goldman, JP, BNY, City, BofA are having time of their life with excess liquidity, CS is still dealing with Archegos fallout, Deutsche would be the one coming on top, but Ukraine happened, and that sweet, sweet oligarch laundering money is currently out of reach. HSBC is sitting in a corner wondering if there is anyone realizing who was borrowing money for all the chineese companies with Evergrande still being insolvent, but propped up, because if it defaults everyone is fucked since everything with a vague smell of it won't pass as collateral. So everyone moves to dumping their crypto reserves to skew financial reports coming up.

    Tl;dr whole financial system is fucked, and if people knew anything about big money banking there would be riots. But JP will sponsor another LGBT parade and everyone will get pent up arguing about it, with noone left to look in the books.
    aye

    And there are the marbles of industry like the Philips ceo getting near 2 million in bonus despite having lost >700m because of the faulty apneu machine failures and 80% of stockholders voting against or the dutch national airport/klm despite getting 3 bill in covid money still paying their behind the scenes baggage handlers and other personnel less than a shelf stocker in a supermarkets earns because 'they cant afford it'. Airport did pay back 350m to the state who -low and behold- holds 70% of the shares themself.

    Fucked up shit man

    Also a standard beer is now 3,60 euro looooooool get rektd i turned my balcony into a bar
    For a craft IPA it's a pretty much regular european price. Now, imagine, people live in Poland, earn polish salary and have to pay the same. Fun times. Kinda wondering how long it's going to take for people to realize other uses of hammers, pitchforks, scythes etc. We're gonna have a party like europe haven't seen since around 19th century in 3-5 years.

  11. #3411
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    Quote Originally Posted by Nordstern View Post
    Quite good

  12. #3412

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    Quote Originally Posted by rufuske View Post
    Quote Originally Posted by Sacul View Post
    Quote Originally Posted by rufuske View Post
    Everything will give back their pandemic gains. The whole exercise in money printing will result in prices still going to their rational level, while every 'poor' will be loosing money via inflation and downright depreciation of their retirement funds. Face it. Investment bankers used covid as an excuse to runaway with trillions and now everyone will foot the bill. Goldman, JP, BNY, City, BofA are having time of their life with excess liquidity, CS is still dealing with Archegos fallout, Deutsche would be the one coming on top, but Ukraine happened, and that sweet, sweet oligarch laundering money is currently out of reach. HSBC is sitting in a corner wondering if there is anyone realizing who was borrowing money for all the chineese companies with Evergrande still being insolvent, but propped up, because if it defaults everyone is fucked since everything with a vague smell of it won't pass as collateral. So everyone moves to dumping their crypto reserves to skew financial reports coming up.

    Tl;dr whole financial system is fucked, and if people knew anything about big money banking there would be riots. But JP will sponsor another LGBT parade and everyone will get pent up arguing about it, with noone left to look in the books.
    aye

    And there are the marbles of industry like the Philips ceo getting near 2 million in bonus despite having lost >700m because of the faulty apneu machine failures and 80% of stockholders voting against or the dutch national airport/klm despite getting 3 bill in covid money still paying their behind the scenes baggage handlers and other personnel less than a shelf stocker in a supermarkets earns because 'they cant afford it'. Airport did pay back 350m to the state who -low and behold- holds 70% of the shares themself.

    Fucked up shit man

    Also a standard beer is now 3,60 euro looooooool get rektd i turned my balcony into a bar
    For a craft IPA it's a pretty much regular european price. Now, imagine, people live in Poland, earn polish salary and have to pay the same. Fun times. Kinda wondering how long it's going to take for people to realize other uses of hammers, pitchforks, scythes etc. We're gonna have a party like europe haven't seen since around 19th century in 3-5 years.
    Isnt a Pol Pivo like 1.10 e? IPA at a bar here is 5 to 7 euro's mate. Its 3.60 for standard shit beer from the 180 liter tap.
    In NL i see a massive run from bars to guarden friday/saturday parties. Rent a tap and keg, beer is 1 euro max. Get a BBQ for a bit extra. Most of the time we all just chip in per person at a fixed price (usually 10 or 15 euro's for all evening).

    Get fucked spending >80 euro's at a bar for a simple beer evening.
    Schopenhauer:

    All truth passes through three stages.
    First, it is ridiculed.
    Second, it is violently opposed.
    Third, it is accepted as being self-evident..

  13. #3413
    rufuske's Avatar
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    Quote Originally Posted by Sacul View Post
    Quote Originally Posted by rufuske View Post
    Quote Originally Posted by Sacul View Post
    Quote Originally Posted by rufuske View Post
    Everything will give back their pandemic gains. The whole exercise in money printing will result in prices still going to their rational level, while every 'poor' will be loosing money via inflation and downright depreciation of their retirement funds. Face it. Investment bankers used covid as an excuse to runaway with trillions and now everyone will foot the bill. Goldman, JP, BNY, City, BofA are having time of their life with excess liquidity, CS is still dealing with Archegos fallout, Deutsche would be the one coming on top, but Ukraine happened, and that sweet, sweet oligarch laundering money is currently out of reach. HSBC is sitting in a corner wondering if there is anyone realizing who was borrowing money for all the chineese companies with Evergrande still being insolvent, but propped up, because if it defaults everyone is fucked since everything with a vague smell of it won't pass as collateral. So everyone moves to dumping their crypto reserves to skew financial reports coming up.

    Tl;dr whole financial system is fucked, and if people knew anything about big money banking there would be riots. But JP will sponsor another LGBT parade and everyone will get pent up arguing about it, with noone left to look in the books.
    aye

    And there are the marbles of industry like the Philips ceo getting near 2 million in bonus despite having lost >700m because of the faulty apneu machine failures and 80% of stockholders voting against or the dutch national airport/klm despite getting 3 bill in covid money still paying their behind the scenes baggage handlers and other personnel less than a shelf stocker in a supermarkets earns because 'they cant afford it'. Airport did pay back 350m to the state who -low and behold- holds 70% of the shares themself.

    Fucked up shit man

    Also a standard beer is now 3,60 euro looooooool get rektd i turned my balcony into a bar
    For a craft IPA it's a pretty much regular european price. Now, imagine, people live in Poland, earn polish salary and have to pay the same. Fun times. Kinda wondering how long it's going to take for people to realize other uses of hammers, pitchforks, scythes etc. We're gonna have a party like europe haven't seen since around 19th century in 3-5 years.
    Isnt a Pol Pivo like 1.10 e? IPA at a bar here is 5 to 7 euro's mate. Its 3.60 for standard shit beer from the 180 liter tap.
    In NL i see a massive run from bars to guarden friday/saturday parties. Rent a tap and keg, beer is 1 euro max. Get a BBQ for a bit extra. Most of the time we all just chip in per person at a fixed price (usually 10 or 15 euro's for all evening).

    Get fucked spending >80 euro's at a bar for a simple beer evening.
    4-5 for a decent IPA at a bar. If you know where to look and what to buy, you can get good good IPA for 1 euro:

    Last edited by rufuske; May 13 2022 at 04:47:21 PM.

  14. #3414
    Movember 2011Movember 2012 Nordstern's Avatar
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    Paul Volcker's ghost on line 1. He says "75 basis points is fucking weak".
    "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 (updated link)

  15. #3415
    Movember 2011Movember 2012 Nordstern's Avatar
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    WE DID IT, BOYS

    DOW UNDER 30,000
    "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 (updated link)

  16. #3416
    August's Avatar
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    I’ve been looking into borrowing crypto in case the conditions become right to do so, and lo and behold, there are now rumors that BlockFi, one of the largest crypto lenders, are having cash problems.

    https://nypost.com/2022/06/17/crypto...urce-says/amp/

    I am telling you, if BlockFi goes down, that is gonna be one hell of a dip.

    P.S. In view of this, and recent drama with DeFis in general, I guess there’s no reasonably safe way to leverage your crypto in a recession. The TradFi route of taking out a personal loan or zero-APR introductory offer credit card is probably the best way to get even more cryptos, but that leverages your personal credit and not your crypto assets. Oh well!

  17. #3417
    Lowa [NSN]'s Avatar
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    Sorry my ignorance but taking loans against crypto to secure an asset that is uncontrollable and subject to massive manipulation seems like the dumbest thing ever?
    Quote Originally Posted by Tarminic View Post
    I would create a dragon made out of vaginas. Then I would create a dragon made out of dicks. Then I would have them fight to the death.

  18. #3418
    Keckers's Avatar
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    Why on earth would you think a 'safe' way to leverage crypto could ever exist without that feature being explicitly designed into a given token? The whole concept (and advantage) of decentralisation falls apart when you have a rely on trusting a third party to act in escrow.
    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.

  19. #3419
    August's Avatar
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    Quote Originally Posted by Lowa [NSN] View Post
    Sorry my ignorance but taking loans against crypto to secure an asset that is uncontrollable and subject to massive manipulation seems like the dumbest thing ever?
    If you have a lot in crypto, and you want to make a short term investment, it can be good to take a loan against the crypto. Avoids triggering a taxable event and the loan rates are usually much lower than TradFi rates.

    If BTC reaches 6k or ETH 200, are you telling me that you would not bring the dumpster truck for it?

    Relatively safe, not safe. DeFi has made a good showing of itself during the bull market, and bull markets are the norm. There has been plenty of time to exit the space with clear signs the bull market is over for months before the mass liquidations came. But I agree with you, Keckers, that such a token is sorely needed.
    Last edited by August; June 18 2022 at 03:07:10 PM.

  20. #3420
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    Quote Originally Posted by Keckers View Post
    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    I'm slightly hopeful the non-dividend based speculative share value fad is dead now and we can return to "real" economics based on "real" concepts of value.
    Quote Originally Posted by Tarminic View Post
    Just for the record, "sending a needy text" is never the right answer.

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