this post was submitted on 11 May 2024
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It's very obvious that amerikkka is circling the drain now, but clearly this didn't just happen in a vacuum. It must've started crumbling at some point... but when?

Some people might say it started after 9/11, others might say it goes back to the Raegan administration. A few might even say it started after losing the Vietnam War, or when they went off the gold standard. Or maybe even earlier...

What do you think? three-heads-thinking

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[–] [email protected] 17 points 4 months ago (1 children)

I feel like the subprime mortgage crisis broke something deeper. I can’t put my finger on it, but it seems like this is the point when political power completely capitulated to finance capitalism.

[–] [email protected] 14 points 4 months ago (2 children)

In 2020 they literally increased the money supply by like 20% by printing trillions of dollars and just handed it out to corporations to do stock buybacks. It certainly was completely captured by that point

[–] [email protected] 10 points 4 months ago

There was also the bailout of Silicon Valley Bank last year. It was a blink-and-you'll-miss-it headline, but man. Like Lehman Brothers, but the Federal ~~Bank~~ ahem Reserve stepped in before the bankruptcy actually hit the stock markets.

[–] [email protected] 7 points 4 months ago

Yeah the response to the 2020 crisis was unsurprising. That war had already been fought and lost (or won, if you’re a finance ghoul)