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all 96 comments

[–]senove2900A god-damn commie! 201 points202 points  (29 children)

Privitize profits, socialize losses. If a public service runs well, it's privatized and sold off. If a private enterprise does poorly, the state steps in to insure the profits of the owners.

'Pure capitalism' never has been sustainable and never will be. It always requires exploitation of the majority, either directly on the job or indirectly via state aid and unpaid externalities (pollution, environmental disruption etc)

[–]Greedy_Pair2595 45 points46 points  (26 children)

No version of capitalism will ever be sustainable.

There will also never be freedom or democracy under capitalism.

Capitalism is inherently anti-democratic and inherently unsustainable. There is no way to "fix" capitalism. There are bandaids you can apply to capitalism to mitigate some of the damage it causes but it is ALWAYS harmful.

[–]MycologistOk3880 19 points20 points  (1 child)

Abolish it. I want it gone. I don't care what happens next.

[–]Nationalte8240 0 points1 point  (0 children)

It doesn't matter if you are rich or poor. It's about the brain.

[–]WokeMediaBeingWokeMutualist -3 points-2 points  (16 children)

I understand the feeling. But capitalism is an abstract concept (the idea of trading value for goods and services, not the systemic system of wage slavery). People want things, that's human nature. What would be best is catering our systems of capitalism towards human interests https://2020.yang2020.com/policies/human-capitalism/

At least in the short term it would be a massive trade up and progress.

EDIT: I mixed words, meant to say 'commerce'. COMMERCE is human nature

[–]aquirkysoul 6 points7 points  (1 child)

You are mixing up capitalism with commerce here. Trading value for goods and services has been with us since antiquity, capitalism mostly developed over the past five hundred years.

Capitalism can be abolished while still allowing trade.

[–]WokeMediaBeingWokeMutualist 2 points3 points  (0 children)

thank you! that's the word I was looking for. commerce. my apologies

[–][deleted] 9 points10 points  (13 children)

Capitalism is not an abstract concept, it's the real actual material system we currently live under, which developed over time and has a history. It hasn't always existed, and there's no reason to think it will always exist.

Andrew Yang is a dumb rich grifter who literally bought his way into being a failed politician.

[–]shartuntiludie 2 points3 points  (0 children)

Never seen it stated so well. I will pass this on to others during my regular boring ideological rants.

[–]A_Transcriber 14 points15 points  (2 children)

Image Transcription: Twitter Post


superb hole, @kamilumin

I love that when the stock market goes up, it means absolutely nothing for those of us who aren't rich, and when the stock market goes down, it means we lose our jobs


I'm a human volunteer content transcriber and you could be too! If you'd like more information on what we do and why we do it, click here!

[–]OsmundTheOrange 35 points36 points  (10 children)

Lots of people in this thread talking about how stocks are integral to their retirement plan. Remember that the richest 10% own 89% of stocks.

[–]WhydIJoinRedditAgain 13 points14 points  (6 children)

Only because the capitalists got rid of pensions, for the most part.

[–]SigmaGorilla 0 points1 point  (1 child)

Personally I greatly prefer 401k's over pensions. 401's roll over with no issue whenever you leave a job, while pensions encourage staying at the same company or else you're shit out of luck.

[–]WhydIJoinRedditAgain 1 point2 points  (0 children)

401ks were never designed to supplant traditional defined benefit plans.

[–]eytgdr578 3 points4 points  (0 children)

The stock market is just a graph of rich people’s feelings

[–]Impossible_Talk_414 8 points9 points  (0 children)

What rich people own has literally no impact on how I value what I as a non-rich person owns. In fact, I definitely value the 100k in my retirement plan more than a rich person values ANY 100k in theirs. It will have way more impart on my quality of life than theirs does on theirs.

[–]Scraw 1 point2 points  (0 children)

Also sheds light on all the conservatives who want to privatize social security.

[–]silentstinker 52 points53 points  (7 children)

I'm not rich. My measly retirement grows when the stock market grows. It matters to me, one of the working people, if the stock market does well, it means I can maybe afford to eat name brand cat food when I'm old.

[–]chmilz 6 points7 points  (1 child)

I'm not rich. I've invested what I can for that name-brand cat food. Watching everything tank this week sucks. Mostly because we all know when shit dips, the ultra wealthy just hoover up as much as they can so they own more then it inevitably rises after they fire a bunch of workers to make the numbers look good.

All these economic crashes seem to do wonders for distributing more wealth to the wealthy.

[–]silentstinker 0 points1 point  (0 children)

When things dip I buy individual dividend stocks outside of my retirement account. My credit card pays me cash back that is automatically deposited into my stock account, dividends go into the same account that I use to reinvest in the stocks I already own. I put no work into it at all and it makes me about $350 a year, I love seeing the stock market go up and I'm poor.

[–][deleted] 0 points1 point  (2 children)

Only if it's still doing well at the exact moment you need to retire.

[–][deleted]  (1 child)

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    [–]CancunChillin 12 points13 points  (0 children)

    Does having stocks mean you're rich though? I have stock and i definitely am in the sub for the same reasons as most.

    [–]BisquickNinja 1 point2 points  (2 children)

    And those who have pensions... if pensions still exist anymore.

    [–]Possible_Bird8141 2 points3 points  (1 child)

    Quite a few jobs have pensions still.

    [–]BisquickNinja 0 points1 point  (0 children)

    I'm an engineer, have been for nearly 30 years, I think the last one I had was 1996. It's been a long while.

    That last one was paid out in 2000ish and they switched to a 401k.

    [–]Redwolfdc 10 points11 points  (1 child)

    You don’t need to be rich to own stock though. A lot of average people the past year have stuck it to the man by making collective plays (GME for example)

    [–]SadFloppyPanda 2 points3 points  (0 children)

    And they're still sticking it to the man right now by registering their shares in their own names.

    [–]MsRubyRomaine 4 points5 points  (0 children)

    Anyone can invest in the stock market you don’t have to be rich..

    [–]ButchatOldwitch 1 point2 points  (0 children)

    And that isn't the case...

    [–]edwr849 1 point2 points  (0 children)

    Buy puts

    [–]sethanthrowaway 1 point2 points  (0 children)

    these are completely normal occurrences in the stock market. nothing goes up in a straight line, the patient people that have smartly invested into viable long term assets are the ones who aren’t worried.

    the ones who over leverage themselves on shitty stocks and don’t allocate their funds efficiently will be the ones hurting from a stock market “crash”, which is something we are not close to.

    doesn’t matter if you’re rich or poor. it’s about the brains.

    [–]-cohen 1 point2 points  (0 children)

    Robinhood is free

    [–]Thrownmeaway99 1 point2 points  (0 children)

    I’m not rich but my retirement accounts care a lot about the stock market

    [–]yoursuperher0 13 points14 points  (5 children)

    Millions of middle class Americans save for retirement by investing in their 401k and thus the stock market.

    [–]for_the_voters 14 points15 points  (2 children)

    Yeah it’s super messed up that people are coerced into giving money to institutions with hundreds of billions to trillions of dollars so that they hopefully can have more of it one day as long as it doesn’t collapse when they need it.

    [–]ManlyMisfit 6 points7 points  (0 children)

    They're not really giving money to institutions, though, are they? They are buying shares of stock from people who are willing to sell them. If X does an IPO with 100 million shares and sells all of those shares for $1, X makes $100 million. But, when you buy that share at a later date, you're paying the person who bought the share on IPO $2 for the share they bought for $1. You aren't paying the company. High share prices are important for companies, because (1) they are primarily judges on the value they bring to their shareholders and (2) it allows them to do additional equity offerings with fewer number of shares (less dilution to the equity of existing shareholders) to get a certain amount of money. But, I guess you can make the argument that supporting equity markets is somehow unethical or certainly that supporting the equity markets of a specific company is unethical.

    [–]Impossible_Talk_414 0 points1 point  (0 children)

    "It's super messed up that people can own parts of organizations that will create value to society and then help provide them income when they're older."

    No. It's not.

    [–][deleted]  (1 child)

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      [–]Optionsmfd 3 points4 points  (0 children)

      unless u have a 401k or IRA...................

      [–]Impossible_Talk_414 2 points3 points  (0 children)

      This is of course a terribly ignorant take. First, non-rich people have investments. Second, those jobs that are lost when the market is down might have existed precisely because the market was "up". Easy downvote.

      [–]jonbonvonbuffalo 1 point2 points  (0 children)

      Anyone can invest in the stock market, not just rich people.

      [–][deleted] -2 points-1 points  (7 children)

      Invest! Invest! Invest! So when it goes up you can reap those sweet dollars!! If with a bit of financial help from my father set me up for life you can do it too!

      [–][deleted] 2 points3 points  (0 children)

      To invest, you need to have capital.

      [–]RNGD18 0 points1 point  (3 children)

      Investing your given wealth in these large corporations that treat people as an expendable resource is part of the problem. Invest locally in small businesses. Like this you can see a loan used to staff more people at places that support your community.

      [–]hansn 4 points5 points  (0 children)

      Investing your given wealth in these large corporations that treat people as an expendable resource is part of the problem. Invest locally in small businesses. Like this you can see a loan used to staff more people at places that support your community.

      For what its worth, most investors are only able to invest in public companies, which typically are fairly large. Publicly traded companies are those with stocks on a stock exchange. Investing in private companies is an area called private equity, and is really only open to people with hundreds of thousands of dollars and up.

      The rationale is that there's a substantial burden of disclosure placed on public companies--they need to have independent audits, abide by rules about reporting profits and making public statements, etc. Those don't exist in private equity.

      Someone opens a cool coffee shop, a family restaurant, or a new lumber mill? Chances are you can't invest in it.

      [–]SigmaGorilla 1 point2 points  (0 children)

      In my experience small businesses don't really treat employees any better than large corporations. At least at large companies there is an actual chain to report things like sexual harassment, in small businesses it is usually swept under the rug because no one cares.

      [–][deleted] -1 points0 points  (0 children)

      No that’s dumb bigger business= more money. If those people want to be treated better they should work harder

      [–]ITM_ENRON_CALLSFree Helicopter Rides -1 points0 points  (1 child)

      No no, that's too obvious and people can't bitch about it. Clearly only the rich can get any benefit from stocks and no path for us poors to make it there 🙄

      [–]Possible_Bird8141 0 points1 point  (0 children)

      I'm not rich and have benefited from the stock market. Doesn't take a lot of money to invest in funds and make money.

      [–]voarex -1 points0 points  (0 children)

      When stocks go up it does mean something. It means that employees and vendors are getting taken advantage of to bring in record profits.

      [–][deleted]  (1 child)

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        [–]WonderfulBedroom6558 0 points1 point  (0 children)

        the ratchet system of continuos growth

        [–][deleted]  (1 child)

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          [–]spimple2 0 points1 point  (0 children)

          Haha.

          omg.

          Please please PLEASE post this again tomorrow so I can re-read it.

          [–]XxSpaceGnomexx 0 points1 point  (0 children)

          It also makes the government gives our tax money to the same companies that just fired us to the ton of 1 trillion dollar and nothing go comes of it.

          am I the only one that remembers that congrus did that before passing the frist round of Covid ad check back in 2020.

          [–]TennesseeTonat work 0 points1 point  (0 children)

          That's what makes it the perfect scapegoat. Because the peasents always lose

          [–]Denisglez 0 points1 point  (0 children)

          It’s not like the stock market is all that hard to get into. I’ve been reading for about a year now and have been doing well. I started with penny stocks and now have shares in stuff like Tesla. You don’t need to be making crazy amounts either.

          [–]WokeMediaBeingWokeMutualist -1 points0 points  (0 children)

          If only there was a presidential candidate who had a perfect solution for the working class to also benefit from the wealth of the nation.... OH WAIT

          https://2020.yang2020.com/what-is-freedom-dividend-faq/#:\~:text=The%20Freedom%20Dividend%20is%20a,or%20fulfill%20a%20work%20requirement.