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submitted 9 months ago by lledrtx@lemmy.world to c/workreform@lemmy.world
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[-] Coreidan@lemmy.world 1 points 9 months ago

Bold of you to assume they were talking about the stock market

[-] snooggums@kbin.social 1 points 9 months ago

Upthread:

This is a terminal stage market capitalism fire sale. The snake is eating its own tail having conquered the board.

[-] Coreidan@lemmy.world 1 points 9 months ago

And? How do you get stock market from that? They are obviously talking about the economy as a whole and not the stock market

[-] snooggums@kbin.social 1 points 9 months ago

The stock market is the reason for chasing quarterly profits and a massive part of what gets counted as the economy. It is the main driver of all the shitty late stage capitalism practices we are discussing.

[-] Coreidan@lemmy.world 1 points 9 months ago

The stock market is certainly part of the problem but it’s not everything.

Capitalism in its entirety is the issue. Capitalism is based on infinite growth which is unsustainable and impossible.

The stock market is just a tool to extract wealth from the populace. Without the stock market it would still happen but with less efficiency.

You have the same problems with or without stocks.

this post was submitted on 19 Jan 2024
860 points (97.7% liked)

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