how come it feels like quality of life was better when the economy was growing slower?
>>61205811Facts don't care about your feelings
>>61205820i will continue to trust my razor sharp intuition over "the experts" thank you very much
>>61205811because you were a naive kid
>>61205811Because there's less rush and noise to 'keep up'This high pace velocity of life makes it feel like you're falling behind. And it is designed to do exactly that
>>61205811The economy is growing rapidly due to business' ability to lighten their workforce due to technological advances. More competition for jobs means lower pay, so everyone is legit becoming poorer yearly the more technology helps businesses scale better, which isn't going to change/slow down any time soon. The average person is going to suffer this cost severely and we are unlikely to fix it any time soon.
>>61205811The real answer that these retards won't admit is that that growth only benefits a tiny number of people relative to the total population
>>61206543True, it’s why the stock market has record profit margins baked in now and why we have a “K shaped” economy where the rich in America are doing so well while everyone else suffers.People are wondering how stocks are trading at such high valuation multiples, it’s because any increase in revenue for a company increases their bottom line profits 3-4x as much as it did 30 years ago since they have no employees and minimal costs due to their tech advantage.
>>61205811You’re onto something there
>>61206581You're not accounting for the amount of debt every company is in to achieve all of that.
>>61205811your expectations were different.
>>61206547>(((tiny number of people)))yep
>>61209214lolwat? NVDA has around $9B of "debt" but sitting on $56B in cash reserves.Facebook has $50B in debt and $50B cash on hand while they sit on literally trillions of dollars in assets.Google has $40B in debt and $100B cash on hand and $500B in assets.Debt is meaningless when you can instantly pay it off at any time, they are only in debt because they choose to be because it's favorable to their business.
>>61209293Cool, that's all the stuff on their books. And their various suppliers? Their customers? The state of their cash equivalents?As an analogy: if I had enough cash and crypto to pay off my house, great. Unless liquidating my crypto is part of a panic that tanks its value. Unless my municipality goes bankrupt and can't afford to keep utilities running. Unless capital markets collapse because everyone around me is in debt up to their eyeballs.I didn't say each company, I said every company.
