Quote (thesnipa @ Apr 5 2022 12:00pm)
We'll look back with a thankful tip of the cap to corporations for expanding welfare once UBI is implemented en masse once corporations eliminate the jobs entirely.
that welfare deflating worker wages has made the lives of poor people far better with stagflation of the costs of goods too. we can raise the wages of mcdonalds employees and make their life nominally better and by extension make the costs increase for dozens of poor people for every one employee making their lives nominally worse.
i'd respect the antiwork movement a lot better if they acknowledge the min wage has increased by several dollars as a result of the pandemic worker shortage, but am downvoted there every time i broker the subject, so they can screw off and enjoy being ruled by sex predator dog walkers.
We're at a pretty interesting crossroads in modern history. Globalism and technology has had a deflationary effect on the world. It increasingly looks like that era is dying. Resource nationalism is on the rise and we're seeing the world being fragmented into camps with more countries trying to either simplify supply chains or bring them home. For key things like chips you're seeing how the US wants Taiwan semi to build factories in the US, which is already happening in AZ, because it's critical to us and having China breathing down their neck is leaving us vulnerable. I think the US is actually in a relatively good place compared to anywhere else in the world. We have high tech, we have farm land and food security, we have commodities like oil, gas, metals, etc that we can dig up.
Most of the world is not in this situation. Many countries were lifted out of poverty because of globalization and now face huge internal issues of energy and food security. Look at Peru or Sri-Lanka in recent days. European countries are scrambling to implement gasoline vouchers, with costs for these programs into the billions as many workers are saying that it's uneconomical to continue to work as truck drivers with the price of gas. And this all feels like just the 1st inning of it all. There is no end sight for the war, we're at the relative 'slow' part of the cycle in oil consumption, what happens in the summer? Supply chains are not getting that much better either. For example look at port wait times in Shanghai the number 1 global port currently:
https://twitter.com/MacroAlf/status/1511021024157917184On top you have some wild climate swings with a winter that's one of the hottest on records followed by the last few days of record level cold spells in many parts of the world. Maybe i'm just too much of a glass half empty kind of a guy idk but i genuinely think things will get worse.
This post was edited by ofthevoid on Apr 5 2022 10:46am