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submitted 12 hours ago* (last edited 12 hours ago) by FuckyWucky@hexbear.net to c/chapotraphouse@hexbear.net

And that isn't going to last, take advantage of it while you can, America.

You can build domestic industry and jobs without this dumb shit. It's just going to reduce the purchasing power.

https://x.com/H0MOSUPERIOR/status/1841491682233061839

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[-] SadArtemis@hexbear.net 2 points 6 hours ago

Replying rather than editing on extra to my comment but- very simplified (and with the disclaimer that I'm no scholar and I'm literally typing on my phone):

Capital =/= production or the real economy.

Capital =/= value (though it is a unit meant to approximate value and transfer it)

Imagine if the US creates a missile. Let's say the production cost and valuation is... Uh, 100$usd. Let's say that Russia produces the exact same missile, functionally and materially identical (though in reality Russian missiles are better than western crap because of capitalization, lol). It's valuation and production cost is.. 25$usd.

What is the difference, exactly? What is the 75$ difference? As a really shitty and lazy and probably somewhat flawed simplification- this is the "capital," the "capitalization" you're talking about.

This is how you get wonderful capitalistic... Capitalizations, like say, the US army spending over 36$k per garbage bin (look it up... Lmao). This is how you get the world's most expensive and certainly the least cost-efficient healthcare system on the planet (and probably in all of history). This is how regurgitated capital ("capitalizations" or "financialization," if you will) in the form of money lending, then interest paid to service the loan, and so on and so forth- metaphorical circlejerks of debt and transactions ("services") the-more-you-know get measured as """productive economic activity.""" agony-mescaline

Anyways yeah, that's about it (heavily and shittily simplified). Once again I heavily recommend looking up prof. Michael Hudson, prof. Richard Wolff, and the Geopolitical Economy Report.

this post was submitted on 03 Oct 2024
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