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Economics, and Finance articles. Engine @reddit2telegram Sister channel @r_war
what if the us goverment allowed the financial system to collapse back in 2009?
what would the aftermath be if the us government back in 2009 was like f-ck it let it all collapse. what do you think happens?
https://redd.it/1ekdkrs
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The Nikkei plunged 7% on market open, trading was halted, index now down 21+% since July
Is anyone getting those 2008 déjà vu vibes yet?
https://www.straitstimes.com/business/japan-s-stock-rout-enters-third-day-with-nikkei-in-bear-market
TOKYO - Japan’s equity rout entered a third day as weak US jobs data added another blow to investor confidence left fragile from a surge in the yen, higher interest rates and geopolitical tensions in the Middle East.
The Nikkei 225 Stock Average slid as much as 7 per cent in morning trading on Aug 5, driving the blue-chip gauge’s drop from a record high to over 21 per cent - a loss that signals a bear market. The benchmark, which entered a technical correction last month, has tumbled almost 12 per cent over three days.
The broader Topix sank more than 6 per cent All 33 of its industry groups have fallen since the Bank of Japan (BOJ) raised interest rates on July 31, triggering a surge in the yen that has cast a pall over the earnings outlook for exporters. Even insurers and banks that were expected to benefit from higher rates are now some of the biggest losers since the BOJ’s hike as global equity markets slump.
Signs of weakness in the US economy sparked a slump on Wall Street on Friday (Aug 2) and a plunge in Treasury yields.
https://redd.it/1ekbcu0
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$350 Million in Marijuana Sold Legally in July in California, $2.4 Billion Year-to-Date
https://themarijuanaherald.com/2024/08/350-million-in-marijuana-sold-legally-in-july-in-california-2-4-billion-year-to-date/
https://redd.it/1ek90wy
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Boeing bleeds another $125M on Starliner program, bringing total losses to $1.6B
https://techcrunch.com/2024/08/01/boeing-bleeds-another-125m-on-starliner-program-bringing-total-losses-to-1-6b/
https://redd.it/1ek3siz
@r_econ
Boeing bleeds another $125M on Starliner program, bringing total losses to $1.6B
https://techcrunch.com/2024/08/01/boeing-bleeds-another-125m-on-starliner-program-bringing-total-losses-to-1-6b/
https://redd.it/1ek3msb
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Oligopolies and monopolies aren't talked about enough. Imagine if we broke up big corporations in every industry and created competition.
https://redd.it/1ejyhd7
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Wayfair CEO flags alarming change in consumer behavior
https://www.thestreet.com/retail/wayfair-ceo-flags-alarming-change-in-consumer-behavior
https://redd.it/1ejx42z
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This 23-floor Manhattan office building just sold at a 97.5% discount — a sign of how much the pandemic upended the market for office buildings in New York City
https://www.nytimes.com/2024/08/01/nyregion/manhattan-office-building-auction.html
https://redd.it/1ejw58b
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23% of low-income Americans are living without a bank account
https://www.cnbc.com/2024/08/02/23percent-of-low-income-americans-are-living-without-a-bank-account.html
https://redd.it/1ejuab6
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Warren Buffett Is Selling Stocks and Raising Cash. How Worried Is He About the U.S. Economy?
https://www.barrons.com/amp/articles/warren-buffett-berkshire-hathaway-economy-d08e652a
https://redd.it/1ejk6tx
@r_econ
The Price of Economic Freedom: How One University Faculty Destroyed the Lives of Millions and the Environment
The Chicago School of Economics, a faculty of economists from the University of Chicago, promised to bring about economic freedom and prosperity to generations to come. Led by the influential Milton Friedman, this school of thought advocated for laissez-faire economic policies, deregulation, and limited government intervention. However, the reality is far from the utopian dream promised by the Chicago School. Instead, their theories have led to the exploitation of the working class, the concentration of wealth among the elite, and the destruction of the environment.
The cornerstone of the Chicago School's ideology is the concept of trickle-down economics, which suggests that economic growth and prosperity will naturally flow from the top down, benefiting all members of society. However, this theory has been proven time and time again to be nothing more than a myth. In reality, the wealthy have only grown wealthier, while the working class has seen their incomes stagnate and their purchasing power diminish. The once-thriving middle class has been decimated, leaving behind a society of haves and have-nots.
The deregulation of industries, a key component of the Chicago School's agenda, has allowed corporations to run amok, prioritizing profits over people and the environment. The exploitation of workers has become rampant, with companies like Amazon and Walmart paying poverty wages while reaping record profits. The lack of regulation has also led to environmental disasters, such as the Deepwater Horizon oil spill and the Flint water crisis, which have devastated communities and ecosystems.
Furthermore, the Chicago School's ideology has led to the erosion of labor unions and collective bargaining, stripping workers of their power to negotiate for better wages and working conditions. The decline of unionization has resulted in a significant decrease in worker protections, leaving them vulnerable to exploitation and abuse. The once-mighty labor movement, which fought for and won many of the rights and benefits we enjoy today, has been reduced to a shadow of its former self.
The concentration of wealth and power among corporations has also led to the distortion of our political system. The influx of corporate money in politics has created a system of legalized bribery, where politicians are beholden to their donors rather than the people they are supposed to represent. This has resulted in policies that benefit the wealthy and powerful at the expense of the majority.
The environmental costs of the Chicago School's ideology are equally devastating. The pursuit of profit above all else has led to the destruction of our planet's natural resources, from the pollution of our air and water to the destruction of our forests and wildlife habitats. The climate crisis, which is largely driven by corporate greed and neglect, poses an existential threat to our very survival.
The Chicago School of Economics, and its chief proponent Milton Friedman, have brought about a dystopian nightmare, rather than the promised land of economic freedom and prosperity. Their theories have ruined generations' income and future, and have contributed to the destruction of our environment. As the consequences of their ideology continue to unfold, one can only hope that future generations will learn from the mistakes of the past and create a more just and equitable society.
And as for Milton Friedman, he can burn in hell for all I care.
https://redd.it/1ejj5bm
@r_econ
FBI Issues Serious Crypto Warning Amid $300 Billion Bitcoin, Ethereum, Solana, BNB And XRP Price Crash
https://www.forbes.com/sites/digital-assets/2024/08/03/fbi-issues-serious-crypto-warning-amid-300-billion-bitcoin-ethereum-solana-bnb-and-xrp-price-crash/
https://redd.it/1ejgoja
@r_econ
This Economy is rather simple…
It is great if you own a house, own stocks (even up until yesterday), own gold, and have a job that has given raises to keep up with inflation.
It is terrible if you have a lot of credit card debt, if you have a job where your boss didn’t give you raises, if you didn’t get a higher paying job during the Great Resignation, if you don’t own a house and you have a brand new truck at 10% interest.
https://redd.it/1ej3j6v
@r_econ
Warren Buffett’s Berkshire Hathaway dumps $75.5 billion worth of stock and halves Apple stake
https://fortune.com/2024/08/03/warren-buffett-berkshire-hathaway-q2-earnings-report-stock-sales-apple-stake/
https://redd.it/1ej9xj5
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Four Randomized Control Trials In Economics
https://www.maximum-progress.com/p/four-randomized-control-trials-in
https://redd.it/1ej7wll
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🚨 Bitcoin and Crypto are Crashing in Worse Day since FTX Closure
https://redd.it/1ekdl01
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The end of the ‘carry trade’? How Japan’s yen could be ripping through U.S. stocks
https://www.cnbc.com/2024/08/02/carry-trade-how-japans-yen-could-be-ripping-through-us-stocks.html
https://redd.it/1ekbovk
@r_econ
Kamalanomics: Harris' Economic Vision for America's Middle Class
https://www.ft.com/content/949ead2b-68e2-4064-9cfa-187ec629a84b
https://redd.it/1ek49t8
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Sounds reasonable right
https://redd.it/1ek50wa
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Brazil temporarily takes over Argentina’s embassy in Venezuela as country's economy in freefall following Presidential election and protests
https://brazilreports.com/brazil-temporarily-takes-over-argentinas-embassy-in-venezuela/6418/
https://redd.it/1ejwmop
@r_econ
Priced out of housing, many younger disillusioned voters embrace populism
https://www.politico.com/news/2024/08/03/unaffordable-housing-populism-00172552
https://redd.it/1ejuayt
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Coca-Cola to pay $6 billion in IRS back taxes case while appealing judge's decision
https://finance.yahoo.com/news/coca-cola-pay-6-billion-001528228.html
https://redd.it/1ejwa23
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60% of todays workers are in occupations that didn’t exist in 1940
https://redd.it/1ejui22
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Nippon Steel raises full-year profit forecast, confident on U.S. Steel deal
https://www.japantimes.co.jp/business/2024/08/04/companies/nippon-steel-raises-forecast/
https://redd.it/1ejquft
@r_econ
Well that’s it boys, call your mothers, the top is in 📉
https://redd.it/1ejly61
@r_econ
Has the AI bubble burst? Wall Street wonders if artificial intelligence will ever make money
https://www.cnn.com/2024/08/02/tech/wall-street-asks-big-tech-will-ai-ever-make-money/index.html
https://redd.it/1ejhfyn
@r_econ
US Senate Majority Leader and Other Senators Urge DEA to "Promptly Finalize" Marijuana Rescheduling
https://themarijuanaherald.com/2024/08/us-senate-majority-leader-and-other-senators-urge-dea-to-promptly-finalize-marijuana-rescheduling/
https://redd.it/1ej9gcx
@r_econ
the Federal Reserve is essentially saying that the U.S. shot itself in the foot with its export controls on China (which was illustrated by Intel's recent staff layoffs)
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr1096.pdf?sc_lang=en
https://redd.it/1ej8cwa
@r_econ
A viral chart suggests a recession is coming after the Fed cuts interest rates
https://www.marketwatch.com/story/a-viral-chart-suggests-a-recession-is-coming-after-the-fed-cuts-interest-rates-but-dont-panic-yet-52bd9794
https://redd.it/1ej8lm1
@r_econ
Troubling: Starting Tuesday, United Airlines Requires $65 Pre-Authorization For Basic Economy Passengers To Check-In Online
https://viewfromthewing.com/troubling-starting-tuesday-united-airlines-requires-65-pre-authorization-for-basic-economy-passengers-to-check-in-online/
https://redd.it/1ej51zs
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