looking at the markets makes it more apparent that performance madness is largely driven by 2008's quantitative easing having never been put through cessation. It was tried once with disasterous effects, and we entered this recession with the same debt still on the balance sheets. Wolfgang Streeck does a great job of explaining it in his book 'how capitalism will end'
Essentially through regulatory capture, capitalists have commoditized things you shouldnt, like labor and currency. As this progressed through the past decade the markets began to drift further and further from any meaningful ties to labor or consumer confidence and spending. Markets began to perform simply due to the fact that they were a market in most cases, and so we see in 2020 though the US suffers nearly 40% unemployment and a service economy that has a failure rate of nearly 50%, markets that float along with easy access to low interest or negative interest credit as a function of the post 2008 recession are nearly entirely divorced from reality. They no longer serve as a barometer for the overall state of a nation at all.
And now we enter the 2020 tax season next january with a promise that somehow this burden will be deferred yet enforced for the average citizen, which could honestly only be maintained with evermore low or negative interest loans this time issued directly citizens instead of major multinational corporations as part of a personal shift of public service (competent taxation policy in this case) to personal responsibility that began in 1993 with the US exit from the public sphere of education and ambulance services in the form of charter schools and ambulance bills. this was enhanced with the transition from low wages and savings to personal lines of low interest credit that inevitably wracked the market in 2008.
Was the above post AI generated? The statistics are made up - unemployment is not 40%. It is not the case that "now we enter the 2020 tax season next january." And I have no idea what "commoditization of currency" or "deferred yet enforced" means.
Essentially through regulatory capture, capitalists have commoditized things you shouldnt, like labor and currency. As this progressed through the past decade the markets began to drift further and further from any meaningful ties to labor or consumer confidence and spending. Markets began to perform simply due to the fact that they were a market in most cases, and so we see in 2020 though the US suffers nearly 40% unemployment and a service economy that has a failure rate of nearly 50%, markets that float along with easy access to low interest or negative interest credit as a function of the post 2008 recession are nearly entirely divorced from reality. They no longer serve as a barometer for the overall state of a nation at all.
And now we enter the 2020 tax season next january with a promise that somehow this burden will be deferred yet enforced for the average citizen, which could honestly only be maintained with evermore low or negative interest loans this time issued directly citizens instead of major multinational corporations as part of a personal shift of public service (competent taxation policy in this case) to personal responsibility that began in 1993 with the US exit from the public sphere of education and ambulance services in the form of charter schools and ambulance bills. this was enhanced with the transition from low wages and savings to personal lines of low interest credit that inevitably wracked the market in 2008.