American Economics Thread

siegecrossbow

siegecrossbow

Field Marshall
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magmunta

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Chevalier said:
https://twitter.com/i/web/status/1974996637404762430

case example of modern American business and company practices.
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Taking loads of debts and then declaring bankruptcy is illegal. That's not how it works. Also, no one would give that company 5b debt without collateral equity. Also, if the new owner starts selling buildings without paying the debt, the debtor can take the money through the court. That's not how it works. But the fact that housing has been financialized in the west is clear to me; that's why the middle class disappears. It's never been this easy to be billionaire, and so hard to be a millionaire.
 
2handedswordsman

2handedswordsman

Junior Member
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magmunta said:
Taking loads of debts and then declaring bankruptcy is illegal. That's not how it works. Also, no one would give that company 5b debt without collateral equity. Also, if the new owner starts selling buildings without paying the debt, the debtor can take the money through the court. That's not how it works. But the fact that housing has been financialized in the west is clear to me; that's why the middle class disappears. It's never been this easy to be billionaire, and so hard to be a millionaire.
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I love how you led yourself to this insight. Taking loads of debts and then declaring bankruptcy is illegal, but you see this is the rule. Unbreakable rule. It's difficult because of the omertas, not because of incompetence. Anyway, incompetence in squeezing people for your own profit? Good ontological question to furthen your insights lol
 
Sinnavuuty

Sinnavuuty

Captain
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siegecrossbow said:
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Forced reeducation/confiscation of assets when????
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“The economy is being powered in big part by the spending of the extraordinarily well-to-do, who are cheered by the surging value of their stock portfolios,” he said. “If the richly (over) valued stock market were to stumble, for whatever reason, and the well-to-do see more red on their stock tickers than green, they will quickly turn more cautious in their spending, posing a serious threat to the already fragile economy.”
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Look at this... if the stock market evaporates, the economy goes down the drain. A completely artificial economy.
 
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