Is it true that everything in the developed world is overvalued by ~70%

[jerrycan dan]

Heard some guy IRL on the bus say this yesterday.
I am a brainlet but it kinda makes sense, most ppl here are employed doing services which should not be valuable on their own. Tons of companies which are alive on the stock market are supposedly dead IRL.

When the economy shits itself soon, will this be corrected? What will that look like for average people in the short term?

 

[Transcended Trucel]

Heard some guy IRL on the bus say this yesterday.
I am a brainlet but it kinda makes sense, most ppl here are employed doing services which should not be valuable on their own. Tons of companies which are alive on the stock market are supposedly dead IRL.

When the economy shits itself soon, will this be corrected? What will that look like for average people in the short term?

I mean in percentage of gdpbterms no. but knowing the sheer number that a product costs for sure especially food is heavily overpriced and property

 

[Emba]

Yes. The only thing that is undervalued is gasoline! (And maybe silver)

 

[Kardacel]

Value seems to be objective in a sense because production & trade is based on measurable energy exchanges. I put in x amount of energy to produce x goods so there's a calculable value somewhere. In modern society value is just numbers, up & down, figures, stock candles, beeps & boops.

Heterodox economics, nothing needs to be explained because everything is just worth whatever people are willing to pay.

It has no relation to the material economy, the numbers only matter when it comes to exchange & real exchanges only happen at the beggining & end of the energy cycles of trade/production.

The effect of the stock market & financial economy is not to arrive at sensible/accurate price signals, the effect is the opposite, total distortion of price signals. The largest corporations like Amazon are effectively self-managed, self-contained centrally planned economies this way they can minimize the damage. This is also why China will never, ever allow the US to exchange with Chinese stock market.

We are paying some of our most intelligent people a lot of money to snort coke and play with imaginary numbers and no-one really knows what to do about it.

 

[lightskin2thousand0]

We are paying some of our most intelligent people a lot of money to snort coke and play with imaginary numbers and no-one really knows what to do about it.

IQ mogs me, what did he mean by this

 

[jerrycan dan]

The largest corporations like Amazon are effectively self-managed, self-contained centrally planned economies this way they can minimize the damage.

I have also heard this take
Does this mean gommunism is a good idea now that we can do record-keeping with a computer and an internet connection?

 

[Deleted member 4159]

Definitely, look at the housing market. $1 mil for a condo in certain major cities.

 

[Kardacel]

IQ mogs me, what did he mean by this

Stock brokers, wolf of wall street, investment bankers, etc.

I have also heard this take
Does this mean gommunism is a good idea now that we can do record-keeping with a computer and an internet connection?

I am pro-Communism but primitivism can also work.

 

[vic624]

Does this mean gommunism is a good idea now that we can do record-keeping with a computer and an internet connection?

Yes. Simply being able to have 5-year plans that could be objectively scrutinized and improved upon would amazingly help Western society. I hope this century has "democratic communism" that is improved from last century's communism by allowing freedom of information.

 

[Kardacel]

Very high IQ video.

 

[Deleted member 19756]

The US stock market is definitely overvalued. We're probably headed into a very bad recession soon.

 

[jerrycan dan]

Very high IQ video.

Cockshott is based

 

[Ellsworth]

I’ve heard this but phrased in a different way. That 70% of every dollar in the economy is wasted.

 

[jerrycan dan]

I’ve heard this but phrased in a different way. That 70% of every dollar in the economy is wasted.

Women are probably responsible for a disproportionately large amount of that JFL

 

[Ellsworth]

Women are probably responsible for a disproportionately large amount of that JFL

For sure.

 

[needsolution]

yes bro

 

[Deleted member 19079]

yes bro

srs

 

[needsolution]

srs

you are overvalued too

 

[Deleted member 19079]

you are overvalued too

dedly

 

[needsolution]

dedly

 

[Deleted member 15752]

Kinda unrelated. But man, we are oversaturated in every fucking area unless you are top 1% in terms of jobs.

Shits so fucking impossible to get nowadays.

 

[Barrix]

Not that it's overvalued, it's just that it owns most of the world and it's economies are extremely large coupled in with a big population.