I'm not asking this as a rhetorical question, but I came across a self-proclaimed feminist on Twitter who works on Wall Street, arguing that Wall Street isn't the enemy of the working class and that thinking this is "pedestrian." Does anyone have any good primers on how Wall Street has effected the (global) economy since the financial crisis of 2008?
twitter.com
archive.fo
Saying things like 'Wall Street pays your 401k' is the same as saying 'your feudal seigneur gives you protection'. Yeah it might be true but it doesn't have to be that way, we can do that stuff for ourselves. Wall Street does not deserve any credit for arrogating all resources to itself and then 'generously' doling some of them back out while keeping most for itself.
God liberals need to be fucking roped
this. people who try to apologize wall street fuckery with arguments like that might as well say "The guy fucking you in the ass is not your enemy, because sometimes he will use a small amount of lube, or give you a reach-around. He will probably just end up fucking you in the ass, then booting you out of his car, so you better count your blessings!"
Books:
do these people think society is simcity or something
History often concerns itself with actors and their motivations, as well as their material conditions. So that's par for the course.
read debt
wall street is not productive, it's the worst kind of capitalist, it's the facilitator of imperialism, it only benefits a tiny sliver of highly concentrated wealth, it is purely extractive. Capitalism worked better during the soc-dem period when institutions like that were suppressed.
If it were to be dismantled the Average Joe would feel relieve. Normal people have no dependency on wall-street, We were actually better at managing stuff like pensions and disabilities -funds before they got financialised, and it would be easy to separate those legitimate claims from the financial world.
The super-wealthy like to intertwine their claims to wealth with the needs of average people, in a attempt to lock in their claims. However that is futile, this type of obfuscation is computationally inefficient. If you wanted to dismantle this, you would not attempt to de-obfuscate them (tracking them down) you only need to find the claims that pertain to the pensions, community-centres, … If you want to find the exit of a labyrinth, the easiest way is to go straight to the exit, without ever entering the labyrinth.
Smells like usury in here…
sweet bourgeois take bro
it ignores completely how 401k is a scam hoisted into people by wall Street so business wouldn't have to pay pensions any more, putting the onus on workers to "fund their own retirement"
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is this a thing everywhere in us? wtf.
anyway, even liberals often think finance is corrupt and retarded, theyre pretty much impossible to defend, esp since last crisis
how can anyone lie to themselves so hard ? when its in their interest
Pedestrian take; don't get run over.
Simply put, sociopaths and psychopaths are attracted to and rewarded by Wall Street's power structure. Conscientious individuals are not the winners there.
Haven't read this one yet myself, but finance is Michael Hudson's specialty and this is probably his most relevant book.
Furthermore, here's a great primer essay on the topic from his blog:
michael-hudson.com
top tier liberalism.
So in other words, every one of Marx's optimistic predictions were wrong, his pessimistic predictions and absurdities weren't nearly far enough for how bad it is, and we would have been infinitely better off if Germany had won WWI, and the subjugation of finance has condemned us to effectively hellworld.
There are no nightmare vision goggles strong enough to dispel this.
Wall Street is why the factory in my town moved to Indonesia.
who do you think has been writing your history books you total fuckhead
Ask me how I know you two are still in high school.
I think we need to start talking about mutualism again
Turns out it's not quite as obsolete as we though
Shamelessly shilling this interview with french marxist economist bringing legitimate points about the problems finance raise for industry itself : youtube.com
they are completely alienated from material reality due to financialization
They are merely acting in their class-interest like the system demands of them.
Well, that and they have a high percentage of sociopaths and psychopaths among their ranks because capitalism kinda encourages amoralisitic and generally shitty behavior if it can produce a profit. To them the ends don't need to justify the means because the means don't matter in the grand scheme of things while the ends (aka. the profit motive) is everything.
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GROW UP RETARD YOU ARE WHY OWS WENT NOWHERE
This x10000
Whether he did or didn't doesn't change what I said.
Probably.
Underrated