Comment on The Enshittifinancial Crisis
HubertManne@piefed.social 14 hours agoSee that is the thing. “If the company has no productive use of the capital”. Borrowing is essentially money creation. Utilizing it just to artificially increase stock value is just an economics game at that point precisely because its not doing something productive. Companies are supposed to be productive in the real world but now all companies spend more of their money playing economic games over making prducts or providing services. This is the classic complaint and the reason for the late stage capitalism thing. When money is the goal everything increasingly is setup to make money but not actually do the thing the money is supposed to incentivize.
Jayjader@jlai.lu 13 hours ago
Something something when a metric becomes a target something something it ceases to be a useful metric. Only in this case the metric is fungible and can be traded for almost anything else in the world. No wonder it became the target.
The older I get, the more I think Tolkien and Herbert had it right (despite disagreeing with much of their politics); gift economies, subsistence farming, and self-reliance are the way to go to prevent us from destroying ourselves.