Want to wade into the snowy surf of the abyss? Have a sneer percolating in your system but not enough time/energy to make a whole post about it? Go forth and be mid.
Welcome to the Stubsack, your first port of call for learning fresh Awful youāll near-instantly regret.
Any awful.systems sub may be subsneered in this subthread, techtakes or no.
If your sneer seems higher quality than you thought, feel free to cutānāpaste it into its own post ā thereās no quota for posting and the bar really isnāt that high.
The post Xitter web has spawned so many āesotericā right wing freaks, but thereās no appropriate sneer-space for them. Iām talking redscare-ish, reality challenged āculture criticsā who write about everything but understand nothing. Iām talking about reply-guys who make the same 6 tweets about the same 3 subjects. Theyāre inescapable at this point, yet I donāt see them mocked (as much as they should be)
Like, there was one dude a while back who insisted that women couldnāt be surgeons because they didnāt believe in the moon or in stars? I think each and every one of these guys is uniquely fucked up and if I canāt escape them, I would love to sneer at them.
(Credit and/or blame to David Gerard for starting this.)
Ed Zitron is now predicting an earth-shattering bubble pop: https://www.wheresyoured.at/dot-com-bubble/ so in other words just another weekday.
I am someone who does not understand the economy. Both in that itās behaved irrationally for my entire life, and in that I have better things to do than learn how stonks work. So I have no idea how credible this is.
But it feels credible to the lizard brain part of me yāknow? The market crashed a lot during covid, and an economy propped up by nvidia cards feelsā¦ worse.
Personally speaking: part of me is really tempted to take a bunch of my stonks to pay down most of my mortgage so it doesnāt act like an albatross around my neck (I mean Iām also going to try moving abroad again in a year or two and would prefer not to be underwater on my fantastically expensive silicon valley house at that time lol).
My problem with this is that I donāt know what the actual spark for collapse would be. Like, we all know this is unsustainable vaporware, but that doesnāt seem to affect the market at all. So when does this collapse? People have been talking about the collapse for two years now. Is there anything that prevents the market from just remaining insane forever and ever in perpetuity?
The market can remain irrational longer than you can remain liquid (a classic quote typically gifted anyone who wants to ātime the marketā, but generally very applicable to anyone these days)
I donāt (directly) have a financial horse in this, Iām just afraid the market can remain irrational so long my brain becomes fucking liquid
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Thatās exactly what I mean when I say I donāt understand the stock market.
Likeā¦ how is Tesla stock a thing? I donāt understand it.
Edward Niedermeyer write a book to answer that very question (cheating on taxes + organize gangs of invested fanboys who suppress negative news online)
Stock markets in the rest of the developed world seem less bubbly than the US market.
Because theyāll make humanoid robots that will conquer the world. At least thatās the current story.
Considering how Musks businesses are being prepped up by just his force of personality and not any real proper business practices Iām not sure we should belief any predictions of doom. See also how cryptocurrencies are still a thing, and just the price of gold (which doesnāt really make sense re the actual practical usage of gold (the store of value in bad times thing doesnt really make sense to me, who is gonna buy your gold when the economy crashes? Fucking Mansa Musa?).
I know a bit more about stocks and businesses (both due to education, a minor talent in it, and learning some of it for shadowrun dm purposes (yeah im a big nerd)) and all this doesnt make any real sense to me re the economic/business fundamentals.
We should be careful to not turn into zero hedge re our predictions of the bubble popping (āIt has accurately predicted 200 of the last 2 recessionsā quote from rationalwiki), even of we all agree it is a huge bubble, and I share the same feeling that he is right on this. (See also how the ai craze is destroying viable supply businesses like the ram stuff (and more parts soon to come if the stories are correct))
We live in stupid times, and a very large amount of blame should prob fall on silicon valley, with the ipo offloading of bags bullshit. (And their libertarianism for others socialism for us stuff (see the bank which was falling over which turned them all into statists))