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Thread: The Automation Spiral (obligatory loleconomics thread v2)

  1. #3261
    tulip's Avatar
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    Quote Originally Posted by mewninn View Post
    Quote Originally Posted by tulip View Post
    It's embarrassing when a country ran by a communist party demonstrates to the markets that they're willing to let free market forces fuck big companies that get over leveraged, whilst we would immediately use public money to prop them up.

    I'm aware communist in name only but still...
    being honest here, but that's a very stupid sentiment. The CCP is not doing this because they believe in free market principles or even care about them in the slightest. If they believe in a market at all, it's one that serves the nation-state and furthers their pursuit of global hegemony

    They're letting these things fail because they want to cool down their housing market and this is gonna be a controlled demolition of that bubble. If things start to look like another GFC, there's a 100% chance of bailouts and the government stepping in to buy/manage the toxic assets to firebreak the crisis, don't be naive lol
    But that's the point, by brooking no failure in their market in order to grow it and better use it as an international weapon they're closer to real capitalism than many other nations. They're a totalitarian state they could do anything they wanted to the people running that company, they have literal concentration camps... But they're using the market to teach the market a lesson.
    Quote Originally Posted by Tarminic View Post
    Just for the record, "sending a needy text" is never the right answer.

  2. #3262
    Lowa [NSN]'s Avatar
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    Im going to have to think that if a $300B house falls down, there will be some sort of reaction on the world stage. It may not actually be something that touches the west but since its all made of fairy dust anyway someone can just decide the roof is falling and - surprise - it does.
    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.

  3. #3263
    dzajic's Avatar
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    $300 billion is peanuts these days. To affect global markets that would have to be $1 trillion at least.

  4. #3264
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    Quote Originally Posted by Lowa [NSN] View Post
    Im going to have to think that if a $300B house falls down, there will be some sort of reaction on the world stage. It may not actually be something that touches the west but since its all made of fairy dust anyway someone can just decide the roof is falling and - surprise - it does.
    This is the real truth. The main impacts on the west will be very indirect; sentiment, demand, investment, commodity prices. We simply dont have the systemic cross-exposure that characterised the 2008 crisis. Now that's not to say those indirect factors can't have an outsized effect; its going to be a shitty time to be a Western Australian mining firm (boo hoo)...


    ...however this crisis is counter-inflationary (outside of China) just as the West is entering into an inflationary crisis (energy and food driven) of its own. It could be a lot worse.

    UK Markets opened up almost 2% this morning.


    If you are looking for a 'sky is falling' situation you dont need to look as far away as China. UK energy supply markets are in a deathspiral and the human consequences could be profound.

  5. #3265

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    Quote Originally Posted by Lallante View Post
    Quote Originally Posted by Lowa [NSN] View Post
    Im going to have to think that if a $300B house falls down, there will be some sort of reaction on the world stage. It may not actually be something that touches the west but since its all made of fairy dust anyway someone can just decide the roof is falling and - surprise - it does.
    This is the real truth. The main impacts on the west will be very indirect; sentiment, demand, investment, commodity prices. We simply dont have the systemic cross-exposure that characterised the 2008 crisis. Now that's not to say those indirect factors can't have an outsized effect; its going to be a shitty time to be a Western Australian mining firm (boo hoo)...


    ...however this crisis is counter-inflationary (outside of China) just as the West is entering into an inflationary crisis (energy and food driven) of its own. It could be a lot worse.

    UK Markets opened up almost 2% this morning.


    If you are looking for a 'sky is falling' situation you dont need to look as far away as China. UK energy supply markets are in a deathspiral and the human consequences could be profound.
    COVID didnt kill enough old and vulnerable people, so we are going to try something else!

  6. #3266
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    Quote Originally Posted by Equium Duo View Post
    Quote Originally Posted by Lallante View Post
    Quote Originally Posted by Lowa [NSN] View Post
    Im going to have to think that if a $300B house falls down, there will be some sort of reaction on the world stage. It may not actually be something that touches the west but since its all made of fairy dust anyway someone can just decide the roof is falling and - surprise - it does.
    This is the real truth. The main impacts on the west will be very indirect; sentiment, demand, investment, commodity prices. We simply dont have the systemic cross-exposure that characterised the 2008 crisis. Now that's not to say those indirect factors can't have an outsized effect; its going to be a shitty time to be a Western Australian mining firm (boo hoo)...


    ...however this crisis is counter-inflationary (outside of China) just as the West is entering into an inflationary crisis (energy and food driven) of its own. It could be a lot worse.

    UK Markets opened up almost 2% this morning.


    If you are looking for a 'sky is falling' situation you dont need to look as far away as China. UK energy supply markets are in a deathspiral and the human consequences could be profound.
    COVID didnt kill enough old and vulnerable people, so we are going to try something else!
    COVID is still playing

  7. #3267

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    At least covid killed enough UK factories etc that there are big shortages on many things, for example CO2, which in turn causes issues with the supply of meat and packaged foods...

  8. #3268
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    Quote Originally Posted by depili View Post
    At least covid killed enough UK factories etc that there are big shortages on many things, for example CO2, which in turn causes issues with the supply of meat and packaged foods...
    Wasn't that brexit which caused this shit?

    Sent from my Pixel 5 using Tapatalk
    Quote Originally Posted by Djan Seriy Anaplian View Post
    Also that didn't sound like abloo bloo to me, PM me and we can agree on a meeting spot and settle this with queensberry rules, that's a serious offer btw. I've been a member of this community since 2005 and i've never met a more toxic individual.

  9. #3269
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    Quote Originally Posted by depili View Post
    At least covid killed enough UK factories etc that there are big shortages on many things, for example CO2, which in turn causes issues with the supply of meat and packaged foods...
    Um, the CO2 shortage has nothing to do with Brexit, its driven by temporary (but indeterminate) shut downs at just two factories owned by CF Fertiliser which produce food grade CO2 as a biproduct, which in turn was driven almost exclusively by the spike in energy prices, particularly gas. Those 2 plants are something like 6% of the entire national natural gas demand!

  10. #3270
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    Brexit is many things, all of them bad but that in particular would be a somewhat tenuous link although the fall of the value of the pound hasn't helped
    Last edited by Paradox; September 22 2021 at 05:18:26 PM.


    Poland treats me like shit and I hate them as a result of it

  11. #3271
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    Quote Originally Posted by Lallante View Post
    Quote Originally Posted by depili View Post
    At least covid killed enough UK factories etc that there are big shortages on many things, for example CO2, which in turn causes issues with the supply of meat and packaged foods...
    Um, the CO2 shortage has nothing to do with Brexit, its driven by temporary (but indeterminate) shut downs at just two factories owned by CF Fertiliser which produce food grade CO2 as a biproduct, which in turn was driven almost exclusively by the spike in energy prices, particularly gas. Those 2 plants are something like 6% of the entire national natural gas demand!
    Unfortunately those plants also produced approx 57% of the UK's CO2 supply. The mark of Brexit on this issue is a bit nebulous, although importing CO2 supplies from the continent (if available) would have been considerably easier if we had still be in the EU. We get the majority of our natural gas from the north sea still, although there is a significant proportion from Norway and Russia.

    One thing you could look into is the drop in strategic reserve for gas, which the government curtailed a few years ago in the name of austerity, expecting the industry to pick up the slack, but industry being greedy industry, they didn't bother to maintain the reserve and thus we are in a situation analogous to the Texas power failure a couple of months ago in the US.
    Shitting up eve for .... well, longer than most of you scumbags.

  12. #3272
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    China with no regard for crypto life! Holy shit.

  13. #3273

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    Quote Originally Posted by August View Post
    China with no regard for crypto life! Holy shit.
    China declares all crypto-currency transactions illegal

    https://www.bbc.com/news/technology-58678907

    This? or is there more?
    Schopenhauer:

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

  14. #3274
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    lol bye bye bitcoin

    The sooner the better frankly. UK please follow suit.

    https://www.newscientist.com/article...g-chinese-ban/
    Last edited by Lallante; September 24 2021 at 05:55:46 PM.

  15. #3275
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    Savage

  16. #3276
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    So if you're a poor country with access to cheap and dirty power bitcoin is becoming your ticket to prosperity
    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.

  17. #3277
    Caldrion Dosto's Avatar
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    Quote Originally Posted by Keckers View Post
    So if you're a poor country with access to cheap and dirty power bitcoin is becoming your ticket to prosperity
    Because clearly no money laundering is going on in Bitcoins....

  18. #3278
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    Quote Originally Posted by Caldrion Dosto View Post
    Quote Originally Posted by Keckers View Post
    So if you're a poor country with access to cheap and dirty power bitcoin is becoming your ticket to prosperity
    Because clearly no money laundering is going on in Bitcoins....
    Two things can be true at the same time.
    Tanks: theBlind[URBAD] (in my heart there will always be a place for [FAIL])
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  19. #3279
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    Kazakhstan's coal power industry is having a field day with ex-chinese mining rigs

    Honestly bitcoin is a dystopian parody of capitalism

  20. #3280
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    Or it's an inevitable end point as the contradictions inherent in capitalism manifest
    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.

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