| Capitalism is.......(part xxxx) 08:11 - Mar 3 with 499 views | BanksterDebtSlave |
Hold on to your hats....
https://www.theguardian.com/business/2021/mar/03/bitcoin-and-robinhood-will-end-
"For decades, the “solution” to this problem was to “democratise” finance so that poor and struggling households could borrow more to buy homes they couldn’t afford, and then use those homes as cash machines. This expansion of consumer credit — mortgages and other debt — resulted in a bubble that ended with the 2008 financial crisis, when millions lost their jobs, homes, and savings.
Now, the same millennials who were shafted over a decade ago are being duped again. Workers who rely on gig, part-time, or freelance “employment” are being offered a new rope with which to hang themselves in the name of “financial democratization.” Millions have opened accounts on Robinhood and other investment apps, where they can leverage their scant savings and incomes several times over to speculate on worthless stocks." |  |
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| Capitalism is.......(part xxxx) on 08:28 - Mar 3 with 430 views | StokieBlue |
That is entirely voluntary though although I do agree that people shouldn't be speculation on the market without the right knowledge and capital and social media shouldn't be highlighting these things as "get rich quick" schemes.
However nobody is forced to speculate on stocks or crypto, it's an entirely personal decision. It's not like being shafted by something completely out of your control like increasing house prices for instance.
When do people have to take some personal responsibility?
SB |  |
| Avatar - IC410 - Tadpoles Nebula |
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| Capitalism is.......(part xxxx) on 08:49 - Mar 3 with 394 views | BanksterDebtSlave |
| Capitalism is.......(part xxxx) on 08:28 - Mar 3 by StokieBlue |
That is entirely voluntary though although I do agree that people shouldn't be speculation on the market without the right knowledge and capital and social media shouldn't be highlighting these things as "get rich quick" schemes.
However nobody is forced to speculate on stocks or crypto, it's an entirely personal decision. It's not like being shafted by something completely out of your control like increasing house prices for instance.
When do people have to take some personal responsibility?
SB |
Spoken like a Libertarian style anarchist Stokie...it was the availability of 'cheap' credit that got them not an increase in property prices fwiw.
I was more interested in the wider implications of the article tbh implying that we are heading for the next dip on the rollercoaster. | |
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| Capitalism is.......(part xxxx) on 09:53 - Mar 3 with 330 views | monytowbray |
| Capitalism is.......(part xxxx) on 08:28 - Mar 3 by StokieBlue |
That is entirely voluntary though although I do agree that people shouldn't be speculation on the market without the right knowledge and capital and social media shouldn't be highlighting these things as "get rich quick" schemes.
However nobody is forced to speculate on stocks or crypto, it's an entirely personal decision. It's not like being shafted by something completely out of your control like increasing house prices for instance.
When do people have to take some personal responsibility?
SB |
Stocks are part of what built this mess. It’s the financial wild west and a form of gambling where the house always wins (see; GameStop), alas that saga was enjoyable to see.
The Capital vs Labour balance needs to drastically swing back really if we want to see any real progress towards a fairer society. |  |
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