I’m clearly no economist so maybe I’m missing something obvious, but I cannot wrap my head around why so many believe that the market is just some sort of fundamental, unchangeable property of the universe that is and always will be. Why do we assume that the dollar will always be valuable?
I could be incorrect, but it seems like there is no guarantee that there will be a rebound after a crash (see: 2008). It more so just seems like parts of capital crumble and become inaccessible to people who once had access, thus causing complete inaccessibility for all who come after.
So, boom and bust seems like the greatest misnomer of all time.
Every time it dips or crashes it’s much more likely that it will rebound than never come back. There’s an entire nation working non stop to ensure the highest profits and best returns. Theyll make you a slave before they let the market crash permanently. If you think the dollar is going to tank then invest in tangible assets like gold or ammo.
Edit: and while you sit on the sidelines waiting for a crash its going to double and triple while your ammo pile just sits there waiting
Why the fuck do people call gold a tangible asset. It’s just some dumb metal.
The tangible part isnt heat bothers me it sthe ‘asset’ bit. Gold is only useful ina. Civilization that values shiny shit. If things collapse, shiny shit will not keep its value. Ammo will tho.
Because its touchable but hard to get large quantities. Aluminum is just a dumb metal but I could fill my backyard with it in short order.
It more so just seems like parts of capital crumble and become inaccessible to people who once had access, thus causing complete inaccessibility for all who come after.
Marx wrote about more or less this. One way that capital gets to keep expanding is that sometimes a bunch of value gets destroyed, dispossessing the former owners and concentrating it further into fewer hands. At least that was my read, I’m not as studied as some of the other folks here so take with grain of salt.
Because the alternative is that capitalism is officially pronounced dead as a doornail. Like others have pointed out: we did rebound after 2008. Line kept going up.
The important thing to always keep in mind here is that the line going up and the actual economic circumstances of the average person are completely and totally disconnected at this point (assuming that they ever even were connected at all). The average person has been getting fucking hammered day in day out for the past few years while profits and “greedflation” keep going up. Living conditions for the average person can (and almost certainly will) keep getting worse year after year and as long as line goes up the economy is doing just fucking fine as far as most of the media, political, and capitalist class is concerned.
EDIT: to add further; people assume the rebound will always happen because to them its basically impossible to talk about the alternative for multiple reasons. Straight up: if the rebound doesn’t happen then basically you might as well be talking about the end of the world to most of these people in a place to comment on this shit. Literally their entire livelihoods are built on the assumption that the rebound will happen. Capitalism not only assumes but requires perpetual unending growth as part of the premise. Asking them why they assume the rebound will always happen is almost like asking why you assume the sun won’t explode tomorrow. Even if you had reason to suspect that it was going to explode tomorrow…its almost pointless to discuss cause what exactly would you even do about it?
Line goes up refers to fictitious capital, which has essentially no connection to the real economy. The rate of profit hasn’t recovered from 2008 nevermind the 70s (90s to 00s neoliberalism gave a bit of a boost), profitability is worse than ever.
Is that what “line goes up” means though? I’m assuming it’s not exactly a technical phrase but I always thought it referred more to GDP, or immediate profits for the already wealthy (in which case the line has been going up), or even just the health of specific stocks. If it’s referring to the rate of profit in general, then the overall trend of the line can’t go up, right? Not trying to argue, just understand. My knowledge of this stuff is rudimentary at best.
Line Goes Up is usually specific to the stock market, it’s from Wall Street Bets as far as I know. It was a response to the fed unloading infinite cash with low low interest during the 2020 covid crash which was mostly dumped onto the stock market (making everything go up).
You can’t usually look at only a specific country to get an idea of the mass/rate of profits because capital is global. But most large western developed economies have undergone a slump in profitability since 2008 and the same with the world as a whole (notable exception being China).
why so many believe that the market is just some sort of fundamental, unchangeable property of the universe that is and always will be
an enormous amount of time, effort, and money has been spent (and still is spent) to make it seem that way
many believe that the market is just some sort of fundamental, unchangeable property of the universe
American default ideology worships The Market as a god
