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Half a trillion dollars wiped from once high-flying fintechs (ft.com)
17 points by JumpCrisscross on July 18, 2022 | hide | past | favorite | 2 comments



Inflation is coming down! The Fed's interest rate increases are finally making overpriced assets come back down, the dollar is regaining value.

Oh you mean the only prices that matter are leaf-node employee wages? You wanted inflation in people asking for raises to fall, leaving market capitalizations totally out of the basket? Hahaha.

In many ways the guy flipping burgers at McDonalds understands the economy better than any Nobel Prize economist. During Trump, he knew things were pretty good, there was competition between employers for employees, nobody was unemployed, you were getting by and there would be no recession because they wouldn't switch jobs or ask for a raise. I've never asked for a raise, or switched jobs. I understand the important thing is to have an income, though small, that is profitable. Something, some income coming in, in America that gives you status based on either being employed or not. It's an incentive to lose money on shit jobs, like credit score, a good little bitch rewards program.





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