bobalot

The problem is that in a closed economy, a increase in production without increased consumption will result in over production and closed down factories.

It isn’t in capitalist’s long term interests to increase production and cut wages across an entire economy. Having a very high net savings rate (whatever you don’t consume is by definition, savings) is not a good thing as a country.

America’s early growth was based on being a high wage an high consumption country.

However, in an open economy, you can export your excess savings (and underconsumption) to other countries. This was an issue during the great depression (called “beggar thy neighbour”).

It is a big problem in the global economy right now with China, Taiwan, Korea, Germany, Denmark, etc. all having stagnant or low consumption shares of the economy while exporting their net savings to persistant trade deficit countries like the United States, UK, Australia and Canada (noting Australia and Canada sometimes have surpluses when commodity prices are high).

It relies on the net deficit countries being willing to accept net capital inflows and all the issues with having persistent trade deficits (deindustrialisation, high debts, etc.) forever, which isn’t possible.

So in short, increasing profits and cutting wages (and/or the overall workforce) might work for an individual greedy douchebag but it is a terrible thing for the entire economy.

Yeah, the constant negative circlejerking on Lemmy is getting pretty tiresome.

More competition is better.

Outside Musk subs like /r/elonmusk, /r/Tesla and /r/spacex, Elon is widely mocked across reddit.

Reddit is a shithole but let’s be real here.

It’s like he was having a stroke while typing that up.

The far-left to far-right pipeline is wild.

It’s like they had no ideological consistency in the first place.

I always liked reddit better since people actually discussed real things.

😂

I was on there for 10 years and it has been nothing but a massive circlejerk for the majority of the subs with obvious bots and astrosurfing.

The Israeli government shamelessly lies.

Remember the secret super villain base under Al Shafia hospital?

4 million households in Australia have solar panels.

They are great value.

Enshittenification

Lemmy like Reddit is a circlejerk.

Bernie lost because less people voted for him.

If it wasn’t for the undemocratic caucuses, he would have lost earlier.

Windows 3.1 was the first one my family had.

Israel was never interested in a Palestinian state.

You can’t ethnically cleanse people and build Jewish settlements while proclaiming you want peace.

Why back up fantastic claims when you can just circlejerk on Lemmy?

Have you always been an insufferable wanker?

All these solutions (tax breaks, etc.) don’t appear to fix the more fundamental problem of it is too expensive to have a kid, work / life balance does not allow it and homes are too expensive.

I thought I was going to be rickrolled but this is better.

I pay $79 AUD for 250Mb download / 20Mb upload.

This makes so much sense.

I always thought, surely their higher ups must know this is utter garbage?

They do but it’s just to scam investors.

I didn’t miss that.

But I do miss the content, structure and vastness of the old internet.

Now it has been turned into a strip mall dominated by Facebook, Google, etc. and enshittenification.

I really miss the early internet.