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this post was submitted on 09 Jun 2024
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2008, the global financial crash, the subsequent shift of trillions of all the currencies towards the already-rich, then Covid hammering the final nail in the coffin of proving that governments care about the people only inasmuch as they provide value.
We’ve had sixteen years of people getting poorer and poorer, shit getting more expensive, and the news outlets they read pointing towards immigrants/gays/leftists as the problem.
The right take those messages and amplify them. They tell people that only they can speak truth to power, when the reality is far more nuanced than that. But people don’t want nuance, they just want to be able to pay their bills. The people aren’t stupid though, they know that the windbags can’t really change anything, but the status quo hasn’t done shit to help them, so fuck it, we’ll vote for the other guy.
“They’re all the same anyway”
I get the frustration, but where is the evidence the far right would care an iota more about people? Specially during covid almost every far right government did worse, in terms of actual dead people, than any left one
Sometimes people don't vote by logic. They see stuf going to shit, hear grand promises of how "we'll fix everything, the establishment is incompetent/evil", and hope they'll deliver.
That's not the criteria, the criteria is whoever is the loudest in criticizing the status quo. And the far right is the loudest
The far right would make everyone poorer but wouldn't change the class structure, so they are allowed to exist while the left gets suppressed. See for example how many of the titans of industry in west germany who supported the Nazis got off scot free (or with much commuted sentences) and got to keep their assets. The system works :)
@DJDarren @Bye do you think we're close to another financial crisis?
I’d say we are right on top of one
@andrewta so I'd say it's deflating, right?
Central Bank rates are reducing in EU. In USA not yet or maybe growing. China is still in the crisis with signals of recovery more and more delayed
No. In the US at least, wages are up for blue collar work, and that’s where the economy was most vulnerable. Inflation has been bad but it’s coming back under control and wages can outpace it in the next couple years, median wage growth already has (yes I have a hard time believing this too, but that’s the numbers).
The last financial crisis had a flagrant cause in default-prone loans. There isn’t such a problem right now.
The largest crisis we are running into is a crisis of propaganda, where people are being told “everything is terrible” when in fact the numbers show that everything is pretty great… except for white collar tech workers (me!).
I think the tech market will rebound the second that the fed lowers rates again, because tech is fundamentally capital intensive and speculative. So you need cheap money to fuel tech. Video games deflated/corrected a bit but that’s fine, those people can work on other things.
Ridiculous assessment.
Everyone is being told its all fine, but the insane CPI massaging has gotten beyond out of hand. There are very little gains for the proletariat masses RN, mostly losses.