FINAL CRISIS NOW
Investors should brace themselves for a vicious recession made worse by large corporate debt levels, according to Guggenheim's Scott Minerd.
"The next recession is going to emanate from the corporate sector," Minerd wrote. "There is likely to be a sharp decline in employment and a sharp decline in profitability, followed by widening credit spreads as the market discounts the expectation of higher corporate defaults."
YES.
According to retarded marginalists and some Marxists it is the increase in employment that causes the decline in profitability. Why would both employment and profitability fall in tandem if it had such a relationship?
Be on guard against Porky apologism that claims that the cause of inflation is too many people working. This is definitely not the case. I do believe that industry and finance is probably being stretched thin–by capitalist standards and conditions.
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Can someone explain for a total brainlet plz
You're about to lose your job at Burger King
Fug :d
...
Baruch HaShem.
ur dad is going to lose his job at burger king
joke's on you my dad's uneployed
Will there be a wave of bankruptcies like Toys R Us? Dozens of Sam's Clubs closing overnight without warning?
refer to:
All I want is a third world uprising that actually overthrows capitalism
We already have a stock market thread. Unless you just want to make a new one for whatever reason.
the third world working class is utterly defeated tho
t. spic
but that's for stock market stuff
this one's for posadas memes
That's what the peasants are for fam, cyber Maoism is the way out of this hell
Good thing I work at a hospital.
Your jobs going to become literally unbearable.
You dudes do realize that the west is more ready to accept fascism than communism right? This wont work out well for us at all. In fact the "liberal" democracies we live in have subtly built the infrastructure for fascism already.
We already have global fascism. The question is what happens when that collapses. If history is any guide, self immolation through global war.
Fascism is also doomed because they literally can't win wars. Darkest before dawn, etc.
That might not save you either.
If enough internal disorder comes with the attempt to impose fascism, then things could work out for the best in the end. A US government trying to keep the continental US in one piece probably isn't going to be so able to act as the enforcer for international capital anymore, ditto for the rest of NATO. A crash in the west would force the PRC to reconfigure its own economy, since the export market for cheap consumer goods just vanished, and the party there would probably take some action to further curb the power of the bourgeoisie. Latin America and West Africa would go red in a week, all of the American stormtrooper ripoffs would die fighting insurgencies in the Black Belt, southwest, and major cities, the KPRF would be swept into power in Russia, middle-eastern puppet states would be quickly dismantled as the money to pay their subjects not to revolt runs out.
There's a growing shortage of both doctors and nurses in the United States. The feds will literally pay your medical school tuition if you work in an area without adequate medical care for two years after graduation. The demand for healthcare and with it the standard of living would have to fall pretty low before there was a surplus of medical professionals (besides cosmetic surgeons and possibly dentists).
I'm slightly unnerved, but I still see that the sooner we come to the decisive crisis, the better. The way capitalism has been recently going on cannot —no, must not— continue.
I'm still on the job market, lads. I'm scared
yeah
statnews.com
because of record hospital closings
forbes.com
and then there are retreating health insurers that are abandoning whole states because they aren't profitable
working in a hospital isn't going to save you when no one can afford to go
What to do when times are good so you don't starve and die when times are bad:
1. Don't rent a home, live with family if possible.
2. Don't own a car if you don't absolutely need to, insurance and maintenance will bleed you dry.
3. Pay down debt instead of investing, not having to pay interest every month is a guaranteed return.
4. Unionize if doing so won't result in your getting fired.
Billing will be so much simpler
Also because they don’t solve the contradictions of capitalism, they only keep shit going a little longer by physically repressing anybody who dares criticize it. Even that becomes ineffective once the whole system begins to fall apart and people begin to become dissatisfied with the fascist government. This tends to happen fairly quickly too, since fascist governments have historically been absurdly corrupt and inept. Italy and Germany probably would have collapsed in a couple decades even without the war. If say, America went fash during the next recession they would probably only get another 50 years max before they are back to square one: an irreparably collapsing economy and a massively dissatisfied population.
BIPPITY BOPPITY
FULFILL THE PROPHECY
realistically though
what will the leftist response to this actually be?
and more importantly, which "left" will be its face and most of its body?
as a burger im pessimistic.
The thing about America is that its citizens are so delusional and retarded that they could see their entire country regress into third world conditions and go
or
or most likely
>thisds is all because of those dam negroes un' jewds DDD:<
Unironically nothing productive in the USA can happen until at least 30% of their population has been genocided
This, but extra unironically
I firmly believe that the time will soon come when communists will have to form organizations that engage with the populace as directly as possible, helping them survive in a country that abandons them to corporations that exploit them, and explaining exactly why this shit keeps happening.
AAAAAAAAAAAAAAAAAAAAAAAAAAAAA
１００ ＭＩＬＬＩＯＮ ＷＡＳ ＪＵＳＴ Ａ ＷＡＲＭＵＰ ドもホヱぽ淫
The left in America needs to actively proletarianize the lumpen proles and labor aristocrats, give them access to the experience of working on the shop floors together, going home together, drinking together like the Red suburbs in France or the Petersburg Soviet. This is the subjective experience that produces a class that exists FOR itself, the postwar American subject has no subjective experience and language about class conflict, much like the French peasants who elected Napoleon III (France's Trump essentially).
HEAR THEM SCREAM
HEAR THEM ROAR
THE PROLES ARE ABOUT TO BEAT MAO'S HIGH SCORE
I've got a feeling that this will still somewhat be in vein and they'll start blaming LE DRUMPF for all the ills and just shill for Bernie and the Democrats.
I hate to be pessimistic, but I honestly see the American system co-opting a succ-dem system as opposed to creating socialism, be it an-com/col/syn, Council communist, Democratic con federalist or a Maoist/ ML system.
America is a couple of generations behind the rest of the world when it comes to class consciousness due to their post-WWII history.They need to be torn down first before they will abandon their petite bourg sensibilities.
Also burger and pessimism is appropriate we are FUGGED.
Like even the best case scenario left organization in this country is limited to unarmed youth groups and independent parties less influential than the damn libertarians (and yeah yeah redneck revolt but two dozen /our guys/ can't hold off the national guard). Just move to rural areas in the west and hope whatever innawoods survivalist is playing warlord in your county is better than the fascists. Maybe try slab city, they're all crazy armed cunts but at least they like drugs and fun.
But tbh, the most likely and worst case is that federal-level collapse just doesn't happen and we're all stuck in a permaliberal one party police state with no end in sight until effective state secessionist movements are formed, and those will probably be indirect puppets of whatever world powers are left.
21st century America's chaos is going to resemble 20th century China's first half, we're gonna have a few upstart revolutionary figures and coup de tas
Burgers are so fucked.
Agreed, the late imperial Chinese dynasties were just as out of touch with reality as modern American ruling class.
It's almost like we need to evolve into socialism…
But as said, either way things will still continue to tumble the fuck down. Suc-dem won't be the solution, but I could see that it might be a small meme before falling into fascism.
Honestly lately I've been entertaining the idea of trying to move to Cuba if things get much worse here.
The worst thing is is that America is one of the few places in the world that contains rare earth minerals. Meaning that they could survive without trade.
the survivalist who tries to play warlord is almost certainly a facist and you know it.
clapistan has bad prospects.
that said, my original question was actually assuming no federal collapse. I doubt that will really happen.
what I wonder, more, is whether there will even be a real materialist, class-socialist response to get crushed, or if it'll be exactly like
says.
The us doesn't grow its own cocoa or vanilla, and that's just off of the top of my head. I haven't even thought of the chaos that would happen if the US were to suddenly decouple from the global economy.
Rare Earth minerals are more common than the name implies. The problem is that most countries beyond China simply weren't willing to pay the environmental impact. Note I said weren't. :)
Cocoa and vanilla aren’t nessicory for modern civilization. There only nessicory as consumer goods. If they were banned there would be a few protests, but under a fascist government those protest would be shut down real quick.
It's much less a problem for US firms than it is European or Chinese firms. Say what you will about America, but the corporate raiders have been effective in reducing their companies' debt loads by destroying pension plans and vulnerable retailers. This gives them ample protection from inflation, especially Fed rate hikes. Not so in China and Europe, where corporate borrowing rates are at all time highs. This is where the system has a collective stroke and drags everything down. American firms will get fucked when trade wars inevitably break out (including the one being started by Trump), and their multi-national operations become totally untenable. This is where America's tech sector collapses in particular, leaving a generation of high-tech graduates without any job prospects but crushing student debt.
It's all going to burn.
America will survive because America's leadership is already pure evil and have raided the younger generation to sustain the old. There's not much room for things to drop, the notion of a "pension" has already been obliterated and soon the notion of "social security" will too. Americans tolerate this for some reason.
The rest of the planet, not so much. Soon the rest of the world will be forced to face the truth that prosperity isn't unlimited, a reality Americans faced a decade ago.
American porkies never learned this lesson either. They only seem "evil" because America is basically a fascist country and allows the bourg to do as they please without much push back. I do agree that the rest of the world will have to change to become more like America (i.e. institutionally murder all illusions about the possibility of social democracy with a rusty knife) but America is also going to get fucked.
At least fascists provide welfare.
I'm of the opinion most non-Americans will spit it out and revolutions will occur. America will get fucked long term due to student loans, which will create a new impoverished underclass while undermining the legitimacy of institutionalized education.
Made by the nazsocdem gang
Nazsocdemistan has a national holiday where all the little kids get to drown Rosa in the river
But I tough DC didn't made events like these anymore plus Morrison has yet to write hypercrisis.
Neoliberals are worse. To call America fascist is to give it too much credit.
Well it is possible that more people working would decrease profits, but I agree that we are far away from such a case.
This crisis will take place, like any ther before it, becaue the rate of profit is getting to an istorical low.
feels pretty good man
there is a crisis haunting comics, the crisis of capitalism
Comics were capitalist from the beginning you loon, the entire point was rich and biologically gifted supporting the system by "crimefighting" (putting down revolutionaries) in their free time.
Shit's heading for Pol Pot (Pol Pot)
Society will fall
'Cause you didn't read Cockshott (Cockshott)
Didn't hear the communists' call, yeah
And now much dark time follows
Buildings fall to the ground (to the ground)
I'm sure I won't miss work though
IT'S THE FINAL CRISIS
dudududuuuh dadadadaaah dudududuuuh…
I wouldn't take this dude's words without consideration. Finance and banking porky (primarily central banking porky) has had two faces over the past year or so. He has been upset because he has though wages are shrinking margins, and he has been upset because he is afraid inflation is coming. These are both telling when put together.
For one, they don't make as much sense together. If wage share of revenue is increasing, and thus shrinking profit margins, that means that increases in employment (and increases in bargaining power) are not going to higher prices, they're just going directly to workers. This upsets finance porky because he wants those margins for himself. But you can see the tension, if finance porky is upset about the possibility of wages eating into profit margins, why is he upset about non-existant inflation as well? In fact, we haven't seen a significant uptick in inflation. there have even been many financial articles discussing whether or not we are in some new age where e-commerce and reliance on computers/IT for productivity (whose costs are falling more than a lot of other industries) means that the dynamics of inflation have changed.
Well, he could be upset about inflation because it actually serves his interests in a sense. Even if the fed raising rates might crunch the economy a bit, might even push a recession, it isn't a concern of big finance porky because he is already well equipped to weather normal economic storms and come out on top for the boom. It benefits his class position because the recession drive labor back into the ditch of the reserve army of labor, which porky can use to make new cheap investments and expand his own position.
But I do think we should be worried about corporate debt levels. The higher that leverage is, the lower the ceiling is on tolerance of failure in the economy. If a critical amount of debt is unable to be serviced, then we have a crisis.
Prolly the Nationalist Left.
You have nothing to worry about herr lefty.
Crossover events were created by DC and in recent years they been chasing marvel's tail when it comes to movies but they're rolling their own strategy in the world of comics and they're doing better than marvel imo
Not all capes are roch but they're all reactionaries.
You should pic either socbol or dembol. Socdems are already nats.
CULTURAL MARXISM DID THIS REEEEEEEEEE
How do we reconcile the notion of a final crisis with the rejection of dialectical materialism as formulated by Marx? It's clear that communism is not inevitable, and that there may be dialectically emerging systems that are not compatible with socialist ideals. Shouldn't we consider Chinese Authoritarian Capitalism a dialectical response to neoliberalism? Why should we be excited for a "final crisis" (if there can even be such a thing in current conditions) given that the left has absolutely no organization?
Even if there’s no final crisis of history there can be a final crisis of capitalism
Fascism is doomed because its predicated on the absurd idea that you can impose a social order onto a people and that they'll grow into it, rather than just letting it fall to pieces and taking the rest of the society with it.
The shrinking margin between the costs of education and starting wages exacerbated by in-sourcing is also a factor. Furthermore, our entire medical system in the US is tooled for the end life comfort care of the Boomer caste. It's no surprise that it's falling apart the way that it is.
Holy shit man, this isn't the 17th century.
Are you sure you understand Marxist crisis theory? Yes, the "final crisis" might not be around the bend but the implication of automization, FroP, limits on production imposed by the money commodity etc. show that the end of capitalism is inevitable. Yes, we may all die in a nuclear war in the ensuing chaos but I don't think there's anyway to put the genie back in the bottle. I don't think we could go back to feudalism–no matter how much the elites may wish for it.
It's alarmingly clear that neoliberal capitalism is coming to an end, but isn't it possible to consider Authoritarian Capitalism, or capitalism between increasingly feudalistic companies, a dialectical progression? My question more broadly is whether the final crisis as articulated by Marx is materially outdated.
Not really, because changing the form of the state does not resolve the contradictions of capitalism.
neoliberal is authoritarian, simply with a velvet glove at times
You are right.
Everyone else here is behaving like stupid kids who can't take responsibility for anything and can only wait for things to change without them taking part in it.
Which makes me wonder about the average age of leftypol posters.
To Holla Forums's defense, a socialism for the 21st century hasn't been properly articulated yet.
And what are we waiting for? For the Other to do it for us?
And I'm using "Other" because I think Communism for this century has to pass through Zizek
...
question:
are the people there horrible boootlicking sycophants who rearrange their values and perceptions to render whatever their company does/boss wants as good?
were your peers in school generally like this, except preemptively, bending over for imagined potential future employers?
im going to start school again in the fall, and this is the impression I get of CS students.
Well hey man it's not easy. Marx read like every piece of philosophy that had proceeded him to articulate Marxist philosophy.
Don't worry I hear that economic crises are actually really good for startup companies
Probably. See part of the whole thing (which incidentally coincides with the whole hurr marx was privledged xddd bullshit) is that I wouldn't attribute a lack of theory to laziness or millennial not having any responsibility or whatever rather I'd attribute it to two things.
1.) Non-liberal leftism has virtually no popularity right now and so all the leftist thinkers are old and dying out because they were raised in the 20th century, but anyone born in the late 20th/early 21st century probably want nothing to do was actual existing socialism.
2.) Those of us that do are too busied and surpressed by the capitalist machine to do anything. I mean for me, between work and university once I'm done with the stuff I need to do to get by I'm lucky if I have enough energy to actually cook myself a real meal let alone dedicate even more time to writing some political philosophy which even if I did publish it, wouldn't help me pay bills. Your attribution to the political inertness of the proles to a juvenile mindset is porky-logic tbh.
attribution ''of'*' the political inertness of the proles
If we have time to be here, we have time to do more useful shit.
The whole problem is articulating what "useful shit" means in current conditions. If Fisher's right, then the west can't even conceive of what a different mode of production would actually look like–his dying before writing Acid Communism certainly didn't help.
The only things I can conceive of worth investigating for us, not that my thoughts are worth much, is to forge a new aesthetic-political vision that can't be easily commodified and liberalized the way Psychedelia, Rave Culture, and OWS did.
Anything aesthetic will be subject to the memetic effect and commercialized given time.
Jesus, D. I'll take a quarter of a Lenin over this shit any time.
what's an acid communism?
Dunno m8, i'm acceleratonist too but i feel we need more economists in the movement, we are for the major part humanities' guys and even if our analysis of the cultural factors seems to be da best of the ones there are now, i'm not very sure of the economics part.
So wtf does this mean? Hold debt? Hold cash, gold, jewelry, land?
where do I put my BOA balance?!?!
Anyone see that ~03:55 EST transmission for 30-60 seconds on CBS NY?
Looked like a desperate call for something cryptic. fucking couldnt get my phone to record in time, anyone grab it?
into the trashcan
How do we know crypto wasnt what they made to succeed usd?
How do we know crypto wasnt what they made to succeed usd?
This is scaring the shit out of me you guys :/
I am a recovering NEET and currently I work a dead end job and living with my mom. I'm trying to go back to community college this fall as well.
If the economy implodes while I'm still trying to pick up my life I really don't know how I'll survive. Really scaring the shit out of me.
I can't fucking wait for the world to prove me right that the dumbass test scores and "connections" in the service of building a resume is all a sham, it's gonna be fucking great.
I'm so disillusioned by college that I might learn more if all the educational systems just crash and force us to get a education ourselves. I'm not really learning anything, I have to learn calculus by myself anyways.
what was it?
Seconding this.
Britbong MA student here, honestly can't wait for all those 'employment skills' I was taught during my undergrad to become completely useless. I also wonder how the Tories will weasel their way out of this one, I swear if their solution is a repeat of David Cameron's big society I'm going to bloody scream.