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Everything is Shit: Tracking the Great Enshittening


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33 minutes ago, immamac said:

American GDP in general is a scam. I wonder if all credit derived payments were removed from GDP how actually fucked it would be. 

Like where is all the actual cash that is in the money supply vs all the debt that is treated as cash. I think most revenue is all based on literally made up money. 

All money is made up.

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Counterpoint: John Mulaney has never had a real fucking job, was raised by parents who are some of the best lawyers in Chicago, educated at the best schools (one literally at the end of the block from me, St Clements, 0.2 miles),  and his parents payed for/allowed his lifestyle.

Half of people in credit card "debt" pay it off in less than a month.

Pull your hair out.

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24 minutes ago, kevwun said:

I just got woken up by a blue alert on my phone for a dude in hall county which is in the fucking panhandle.  I am in Port A.  Thanks alot assholes.

Same but in Houston, thought something actually serious was happening like a refinery disaster or Putin/Kim/Xi letting nukes fly but no… was some dumbass “blue alert”…like the cops state wide would give a shit and all sign up to get woken up at 4am if I got shot…

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On 10/2/2024 at 8:42 AM, immamac said:

Yeah, I was just elaborating for those who want to know what YCombinator is all about. 

I spent 25 years in the venture capital/startup world. When I first started, it was a brilliant concept that launched powerful fantastic companies that changed the world in a positive way. 

It then quickly became essentially a Ponzi scheme to get rich by dumping crap companies on all of us. One of many ways to do that was by taking advantage of index investing, which buys companies regardless of their quality.  VC’s and founders know full well they are pitching fraud, but don’t care. Investor beware. WeWork was a great example, and now VC’s have funded that grifter yet again. Capitalism is partially broken right now. 

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48 minutes ago, kevwun said:

I just got woken up by a blue alert on my phone for a dude in hall county which is in the fucking panhandle.  I am in Port A.  Thanks alot assholes.

 

22 minutes ago, Evil Bill Obrien said:

Same but in Houston, thought something actually serious was happening like a refinery disaster or Putin/Kim/Xi letting nukes fly but no… was some dumbass “blue alert”…like the cops state wide would give a shit and all sign up to get woken up at 4am if I got shot…

You don't turn all of that shit off as soon as you get a new phone?  That's on you.

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3 minutes ago, WBT said:

 

You don't turn all of that shit off as soon as you get a new phone?  That's on you.

I mean I wouldn’t mind getting actual useful alerts for actual emergencies happening near where my phone is located so no I don’t turn them off… but stupid ass “blue alerts” might be the thing that gets me to do it 

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On 10/2/2024 at 12:03 AM, huge said:

I don’t use Reddit properly.

All they do is email me their advice column section.

I don’t care that your sister called you a whore on your wedding day!

Also no one cares about incubators outside of techbros and dilettantes.

Reddit.com/r/NSFW

Reddit.com/r/gonewild

On 10/3/2024 at 1:32 PM, immamac said:

American GDP in general is a scam. I wonder if all credit derived payments were removed from GDP how actually fucked it would be. 

Like where is all the actual cash that is in the money supply vs all the debt that is treated as cash. I think most revenue is all based on literally made up money. 

The thing about a fractional reserve system is that most money is just entries in a ledger. 

 

Also most large firms have to use accrual basis accounting.

 

My well-regarded business law professor said accounting was lying by another name.

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On 10/3/2024 at 2:06 PM, gmr548 said:

All money is made up.

What?  We’re only 36 trillion in debt!  We lead that race by a huge margin compared to any other country and the EU.  The dollar is a total house of cards that would collapse in a second except for the fact that so many other countries count on its trade.  So we just keep printing more Monopoly money when we need more. 

Edited by Hook1997
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21 minutes ago, Hook1997 said:

What?  We’re only 36 trillion in debt!  The dollar is a total house of cards that would collapse in a second except so many other countries count on its trade.  So we just keep printing more Monopoly money when we need more.  

The debt matters to the extent it drives deficits but otherwise it's just a number. 

Deficit to GDP are more interesting ratios because they're both vectors (debt is a scalar, it would be like comparing miles to mph). Debt to wealth would be an interesting ratio.

The other factor is that the world financial system is basic built on t-bills and when they tried to find something else to use it ended up pretty badly.

 

 

 

One day the Ricardians may be correct but they've had 200+ years of being wrong at this point.

 

 

Ultimately all money has to be made up. Gold is a useful industrial commodity and it goes well with Persian skin tones but its value as money is only far beyond those things because a bunch of people agree that's how it should be. Greenbacks are no different. And, unlike gold, greenbacks are backed by the full faith and credit of the US government which only morons try to fuck around with. Along with the biggest and best performing large economy in the world, the second largest nuclear arsenal (and who knows how many Russian bombs actually work) 11 actual aircraft carriers, 10 more ships that pretty much every other country on earth would count as aircraft carriers a fuck ton of nukes, and a seemingly insatiable appetite for consumer goods. 

Edited by elfenix
No idea why my phone assumes I'm using its as a contraction when I usually use it as a possessive
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Zeihan says that throughout History the nation with the most powerful navy had the universal currency.  Rome, Spain, America.  The Navy keeps the shipping lanes open and trade just leans to their currency.  Until some upstart usurps us, the rest of the World hasta use the Greenback.  Whether they any to or not.

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3 minutes ago, Parliament said:

Zeihan says that throughout History the nation with the most powerful navy had the universal currency.  Rome, Spain, America.  The Navy keeps the shipping lanes open and trade just leans to their currency.  Until some upstart usurps us, the rest of the World hasta use the Greenback.  Whether they any to or not.

You left out England between Spain and us.

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