Yeah, not sure why you all don't just put your money in traditional financial instruments and institutions. Not sure about this whole "cryptocurrency" thing. IDK. Just doesn't seem real.
General Electric should be the poster child for the whole corrupt "We're-doing-great-and-our-stock-is-flying-oh-shit-now-its-tanking" financial establishment. They'll all be doing great up until the day, the very minute they run out of money to buy back their own stock.
GE one month : "We're doing great! Earnings are up! Stock is up!"
GE the next month : "Oh shit, suddenly we're out of cash! Our debts exceed our free cash! We've been hiding our revenue losses with shady accounting and cooked books. Shit! Time to cut our stock and dividend in half. Get rid of the CEO! Jettison everything! Lay off thousands!"
Of course the executives are the only ones who get a golden parachute. Everyone else gets a pink slip.
So... Forgive me, Torque - but it begs this philosophical question: Isn't this just unfettered capitalism in action?
Don't get me wrong, I am not trolling you or trying to catch you out.
But...
We seem to be at the peak of a long era of 'laissez faire' rampant capitalism - which has just produced debt slavery for the world's masses and incredible wealth and power for the few. Without any alternative competing systems to rein it all in since the 'victory' over communism and socialism, we simply seem to have completely accepted modern capitalism 'raw in tooth and claw'.
I actually agree with most of what you say here and basically it's obvious the current system is corrupt to the core - and on a simple, human level - yes, patently unfair.
So if it's not working for the common good - do we tear it all down, or are we just trying to make sure we are getting a slice of the pie?
Just wanting to be rich is 'joining them, not beating them'. Wanting to change it requires new ideas, new heroes thinking of new ways - and people prepared to be part of the solution, not just wannabes who want to be part of the elite that cause the problem - with lambos to prove it.
Is parachutes for the rich and pink slips for the ordinary Joes ok?
Or not.
I am not pretending I have an answer to this and I am part of this system by default, but I would be interested in your thoughts
I really can't answer this or expound on my thoughts right now because it would require a book. And I'm too tired to write a book, and of course I don't want to be accused of adopting JJG level walls of text, lol.
Suffice to say, it wouldn't have become run away rampant predator capitalism if corruption hadn't be allowed to infiltrate the entire system. Even prominent hedge fund managers don't know what the fuck is going on anymore, nothing makes any sense. Some sanity would come back to the markets if:
1. Gov't needs to stop actively managing the markets through Fed and CB intervention (just look at the bond market, it's ridiculous.. comical. Who's fkn buying that shit?)
2. End stock buybacks - they used to be illegal, most people don't even know that
3. More transparency in corporate earnings reporting - end the loopholes and fuzzy accounting practices
4. CEOs and executives need WAY more accountability for company performance and earnings - quit rewarding them for bad behavior
5. Let the fucking equities market have it's bear market for gods sake. Quit propping it all up by tethering everything to FAANGs and then constantly goosing the FAANGs with CB fiat money