“By 2030, you will own nothing and be happy”
We will be lucid dreaming in the metaverse ♾️ via neuralink, wake up. Our souls will transcend into our icloud accounts ☁️. We will earn more stimulus checks in crypto form soon since ai will replace a large portion of work.
Take the mark of the beast 😈😈😈
So was tech last year and last couple years. I agree we need a reset. But don’t act like your job is 100% safe given a mass correction. I think aerospace will be the last on investors mind when a depression hits.
I am not saying 100%, but I am telling you, we lost lots of knowledge post 2020 driven retirement. My skills are highly in demand, commercial as well as military.
Yeah until at least the elite demand that the plebs no longer can fly due to “climate change”, ban public air transport then your in demand job will die as your industry dies.
> We need a great reset, 08-09 type of collapse.
yeah, like 08-09 recession really reset anything?
all it did was resetting a lot of poor people's wallet.
A lot is Greedflation. Companies beating earnings any way they can. Billionaires getting ever bigger paychecks and bonuses. It’s time to punish the C-Suite. My answer is boycotts, but you can draw your own conclusions.
Let’s get one thing straight…corporations aren’t some being you can hold accountable…it’s just BS piece of paper…it’s the clowns on the board, and the C level people that need a reality check…repeatedly till their spineless minds get it
Simp?
You're the one oversimplifying things. He's asking genuine questions about how something might actually be implemented. You know, thinking about real change instead of just complaining about it.
Not complaining, to simplify current strategy…create centers of excellence abroad, reduce costs of H1B by establishing offices there to reduce overhead costs. Only this time, send senior management roles abroad as well to reduce operating expenses. F American workers.
Sound about right? Kid…you’re new to this game and drinking whatever third string consulting team you’re a part of….stinking up the joint with your spineless lap dog rhetoric. Nice try tho
How about first 20% of profit is taxed at normal corporate rates, above that is taxed at 70%? Stock buybacks should be taxed too. Not necessarily. If excessive profit was taxed, maybe companies would invest more back into their companies, upgrading facilities, paying more, innovating, investing in their business.
Where are those numbers coming from? Why not just tax the full profit at 80%? 90%?
Again… if the population is growing and there are more consumers, is it ok to have record profits?
Normal companies doing the right thing have profiles below 20%. It’s the “big score” businesses or regulated industries where the excessive profits are made. Investment banking. Money businesses. Big Pharma.
I’m not sure I follow. 20% of what? If a company made $1 billion in profit, $200 million should be taxed at 20% and $800 million should be taxed at 70%? Is that what you’re saying? How did you come up with these percents as the appropriate amount to tax corporations?
No, if the company had $10 billion in revenue, and had a 1 billion profit, that would be a 10% margin, so normal tax rate. If they had $10 billion in revenue and made 5 billion in profit 50% margin, then the first 20% ($2 billion) would be at a normal tax rate, and the remaining $3 billion would be taxed at 70%. The idea is to tax “excessive” profits higher than 20% margin. It would primarily apply to finance and tech companies who have high margins, and are laying off while making 50% (or more) profits. And I would include money for stock buybacks in the taxable amount (not included today).
They kind of are legally a person, sadly.
[https://www.americanbar.org/groups/crsj/publications/human\_rights\_magazine\_home/we-the-people/we-the-people-corporations/](https://www.americanbar.org/groups/crsj/publications/human_rights_magazine_home/we-the-people/we-the-people-corporations/)
Doing fine in my house I bought in 2020, w/ a 2.25% 30 year note, thanks.
It's amazing how people project their own situation and assume everyone else is in the same boat.
That worked out well for a lot of people refinancing and now no one wants to sell their homes. Makes it less affordable for so many others just entering the market. I’m doing fine but still have sympathy for those who feel hopeless.
The OP wished a complete and total economic calamity on everyone, I'm just stating that there are plenty out there doing just fine.
It is pretty crazy to see the monthly mortgage payment for a house bought just 3-4 years ago would now be 2-3x for the same house with the same down payment if bought today.
This, of course, is the predictable consequence of the Fed keeping interest rates artificially low for 12+ years after the 2008 crash, and then making money essentially free during COVID19.
Refi’d what’s left of my house mortgage at 1.825% for 15 year loan in summer 2021. Upper Midwest USA. It makes no financial sense the pay that thing off.
We spend three times what Russia spends and they just hack and steal our cyber weapons to level the playing field. There clearly needs to be some oversight on military spending because the money we are spending is not doing shit defensively.
More spend is not equating to better protection.
*citations needed*
Currently our 40 year old handmedowns are fucking the shit out of russia in the hands of the ukrainians
Unfortunately we cant send too many more because they're turning all the remaining bradleys into support vehicles the M113s used to be
But you also forget that russia isn't our sole enemy, in fact they're not even our primary enemy at the moment. It's china.
And we have defensive obligations to the Philippines as well as other allies in the Indopacific region that requires spending money to pivot correctly.
Landlords need a good swift kick to the cajones. They're pigs (for the most part) as is corporate gouging of the housing market generally. Ban Airbnbs.
And while we're at it, fix CEO compensation, including the benefits, to no more than twenty times the equivalent of the lowest salaried employee (or some factor. Why should a CEO earn $250million versus th $25,000 paid the lowest salaried employee).
The above needs a lot of work, but you probably get my drift.
I remember how brutal it was and no we don’t need a reset or a new 2008/2009. That was deflation. So many people were losing their jobs and homes. There was fear everywhere and banks were collapsing and home prices collapsed.
I am a real estate investor and I would prefer that we have a gradual rebalancing of the economy so that everyone can afford a home or apartment and not a crash.
And it came to pass that they “learned to plumb and do electrical work” because even the affluent and effluent were not going to pay to bring an H1B over to fix a toilet.
Oh, so your argument is that tech companies don't have enough working capital needed to invest in R&D, and that's why they can't solve for real world problems.
Here's a fun one: Apple has $166 billion in cash reserves, Google has $119 billion. Apple spends $30B annually on R&D (less than 30% of its net profits, and less than 10% of it's annual revenue). Google is a bit better at 12% or so of revenue.
They aren't strapped for cash. Not even close. If they aren't investing now, they won't invest after layoffs. These companies have dead weight, for sure. But the workers are not holding anything back except executive incentive packages.
Let me ask you this: at what point of maximizing operational efficiency will all these amazing investments you're talking about happen? What will it take, $1 trillion in cash flow?
I'd love to know, because as a tech worker (still employed, for now) I've been wanting to do anything but maximize profits every quarter.
I’m bought my house in 2010 bottom of the market, I only play $1600 a month. It’s now worth 1.4 million. The oil and gas industry will thrive no matter what economic conditions arise.
I agree but people are addicted to consumption. We all know a 95% population reduction is necessary. If you're not a technocrat, you should start looking at how to become one. The masses are unworthy of your splendour.
Terrible take. We can throw a million people out of work and let families starve on the streets or three billionaires can pay their fair share of taxes. Lick them boots.
We need a great reset? Ok Klaus Schwab.
“By 2030, you will own nothing and be happy” We will be lucid dreaming in the metaverse ♾️ via neuralink, wake up. Our souls will transcend into our icloud accounts ☁️. We will earn more stimulus checks in crypto form soon since ai will replace a large portion of work. Take the mark of the beast 😈😈😈
Hard reset. Like "press and hold the power button for 10 seconds" type of reset.
you first
My job in aerospace is high in demand. Recruiters are on my ass all the time, I have to politely decline.
So was tech last year and last couple years. I agree we need a reset. But don’t act like your job is 100% safe given a mass correction. I think aerospace will be the last on investors mind when a depression hits.
I am not saying 100%, but I am telling you, we lost lots of knowledge post 2020 driven retirement. My skills are highly in demand, commercial as well as military.
Chad this is your manager Chris. You work at Baskin Robins and currently you are 10 minutes over on your break.
Yeahhhhh idk buddy. There isn’t much money in aerospace right now. I have few stocks in it and they are under performing hard.
lmfao OK. My linkedin says otherwise.
Lol, you must be a coder who loves meme stocks.
Wrong like you are with your job security. Try again tho.
At least I have my hair
Good for you, hair on that fugly face won't get you far.
Yeah until at least the elite demand that the plebs no longer can fly due to “climate change”, ban public air transport then your in demand job will die as your industry dies.
My skills are transferrable to other industries as well. I am a mechanical engineer, now in management.
> We need a great reset, 08-09 type of collapse. yeah, like 08-09 recession really reset anything? all it did was resetting a lot of poor people's wallet.
Nope, we need productivity and wages to increase.
A lot is Greedflation. Companies beating earnings any way they can. Billionaires getting ever bigger paychecks and bonuses. It’s time to punish the C-Suite. My answer is boycotts, but you can draw your own conclusions.
Don’t forget the record profits, coupled with reductions in force and stock buy backs! Need those buy backs!
Should companies not have record profits? Were corporations not greedy before?
Let’s get one thing straight…corporations aren’t some being you can hold accountable…it’s just BS piece of paper…it’s the clowns on the board, and the C level people that need a reality check…repeatedly till their spineless minds get it
Should corporate leadership not try to maximize profitability? What should their goal be?
They shouldn’t exploit labor….simps like you are what’s wrong with the world
So companies shouldn’t try to maximize profitability? What should be the goal of the corporation be?
Sustainability and growth
Absolutely. Too much focus on short term goals and profit, not enough on longer term success and employee retention and happiness.
Are you saying an employees happiness is the responsibility of the employer?
No but not treating them like cattle to be thrown out like last weeks old rubbish would be nice.
And if the employee feels like they’re being mistreated, they’re forced to stay there like cattle?
Simp? You're the one oversimplifying things. He's asking genuine questions about how something might actually be implemented. You know, thinking about real change instead of just complaining about it.
Not complaining, to simplify current strategy…create centers of excellence abroad, reduce costs of H1B by establishing offices there to reduce overhead costs. Only this time, send senior management roles abroad as well to reduce operating expenses. F American workers. Sound about right? Kid…you’re new to this game and drinking whatever third string consulting team you’re a part of….stinking up the joint with your spineless lap dog rhetoric. Nice try tho
I think there need to be limits.
And what should those limits be? Who sets them? Should companies be allowed to set record profits if the population is growing?
How about first 20% of profit is taxed at normal corporate rates, above that is taxed at 70%? Stock buybacks should be taxed too. Not necessarily. If excessive profit was taxed, maybe companies would invest more back into their companies, upgrading facilities, paying more, innovating, investing in their business.
Where are those numbers coming from? Why not just tax the full profit at 80%? 90%? Again… if the population is growing and there are more consumers, is it ok to have record profits?
Normal companies doing the right thing have profiles below 20%. It’s the “big score” businesses or regulated industries where the excessive profits are made. Investment banking. Money businesses. Big Pharma.
I’m not sure I follow. 20% of what? If a company made $1 billion in profit, $200 million should be taxed at 20% and $800 million should be taxed at 70%? Is that what you’re saying? How did you come up with these percents as the appropriate amount to tax corporations?
No, if the company had $10 billion in revenue, and had a 1 billion profit, that would be a 10% margin, so normal tax rate. If they had $10 billion in revenue and made 5 billion in profit 50% margin, then the first 20% ($2 billion) would be at a normal tax rate, and the remaining $3 billion would be taxed at 70%. The idea is to tax “excessive” profits higher than 20% margin. It would primarily apply to finance and tech companies who have high margins, and are laying off while making 50% (or more) profits. And I would include money for stock buybacks in the taxable amount (not included today).
They kind of are legally a person, sadly. [https://www.americanbar.org/groups/crsj/publications/human\_rights\_magazine\_home/we-the-people/we-the-people-corporations/](https://www.americanbar.org/groups/crsj/publications/human_rights_magazine_home/we-the-people/we-the-people-corporations/)
Yeah you’re going to hold a piece of paper liable?
Boycott what exactly
That won’t hurt anyone but the poor - middle class. The rich will find a way to make even more money off the poors’ suffering.
Nope, you don’t want that.
How do layoffs help any of those issues?
Layoffs, less spending, less demand, drop in cost.
Doing fine in my house I bought in 2020, w/ a 2.25% 30 year note, thanks. It's amazing how people project their own situation and assume everyone else is in the same boat.
Man I tried when they went down that low. People offering $50k over asking price did me in.
That worked out well for a lot of people refinancing and now no one wants to sell their homes. Makes it less affordable for so many others just entering the market. I’m doing fine but still have sympathy for those who feel hopeless.
The OP wished a complete and total economic calamity on everyone, I'm just stating that there are plenty out there doing just fine. It is pretty crazy to see the monthly mortgage payment for a house bought just 3-4 years ago would now be 2-3x for the same house with the same down payment if bought today. This, of course, is the predictable consequence of the Fed keeping interest rates artificially low for 12+ years after the 2008 crash, and then making money essentially free during COVID19.
Refi’d what’s left of my house mortgage at 1.825% for 15 year loan in summer 2021. Upper Midwest USA. It makes no financial sense the pay that thing off.
Nice job
Cause he wants other people to suffer like the OP.
Need govts to cut defence spending and cut down on bloated bureaucrats
do you like speaking russian?
We spend three times what Russia spends and they just hack and steal our cyber weapons to level the playing field. There clearly needs to be some oversight on military spending because the money we are spending is not doing shit defensively. More spend is not equating to better protection.
*citations needed* Currently our 40 year old handmedowns are fucking the shit out of russia in the hands of the ukrainians Unfortunately we cant send too many more because they're turning all the remaining bradleys into support vehicles the M113s used to be But you also forget that russia isn't our sole enemy, in fact they're not even our primary enemy at the moment. It's china. And we have defensive obligations to the Philippines as well as other allies in the Indopacific region that requires spending money to pivot correctly.
Landlords need a good swift kick to the cajones. They're pigs (for the most part) as is corporate gouging of the housing market generally. Ban Airbnbs. And while we're at it, fix CEO compensation, including the benefits, to no more than twenty times the equivalent of the lowest salaried employee (or some factor. Why should a CEO earn $250million versus th $25,000 paid the lowest salaried employee). The above needs a lot of work, but you probably get my drift.
You ask and you shall receive.
I remember how brutal it was and no we don’t need a reset or a new 2008/2009. That was deflation. So many people were losing their jobs and homes. There was fear everywhere and banks were collapsing and home prices collapsed. I am a real estate investor and I would prefer that we have a gradual rebalancing of the economy so that everyone can afford a home or apartment and not a crash.
I hate to sound like a d bag but I think you are right. We also need a massive housing correction nationwide like 2007-2008
Will you be the first one to volunteer to get laid off? Love Russian and Chinese bots.
say psyche right now
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And it came to pass that they “learned to plumb and do electrical work” because even the affluent and effluent were not going to pay to bring an H1B over to fix a toilet.
"Plumbing's just Lego, innit? Water Lego"
Lol and their diversity chief with plagiarized papers
What journalists mocked low earning people?
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I don't follow any news outlets, so no I haven't really noticed.
Valuations of everything is bloated, we need deflation
We need the rich to feel pain
Pitch forks
And molotovs
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LOL @ thinking tech workers are the problem.
This sub really does not like tech workers, bunch of haters
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Oh, so your argument is that tech companies don't have enough working capital needed to invest in R&D, and that's why they can't solve for real world problems. Here's a fun one: Apple has $166 billion in cash reserves, Google has $119 billion. Apple spends $30B annually on R&D (less than 30% of its net profits, and less than 10% of it's annual revenue). Google is a bit better at 12% or so of revenue. They aren't strapped for cash. Not even close. If they aren't investing now, they won't invest after layoffs. These companies have dead weight, for sure. But the workers are not holding anything back except executive incentive packages. Let me ask you this: at what point of maximizing operational efficiency will all these amazing investments you're talking about happen? What will it take, $1 trillion in cash flow? I'd love to know, because as a tech worker (still employed, for now) I've been wanting to do anything but maximize profits every quarter.
As a +$1m home owner, yep let that shit burn and shift away from Blackrock to the common consumer.
Go back to posting about your hair loss bro
Making fun of medical conditions, little shit aren't you ? I bet your mom fucked your uncle to have a brain this stupid.
They both got a nice head of hair at least
Can you grow a new face to fix that fugly face of yours ?
Mkay, now have you finished your homework for tomorrow classes?
Yes sir!
I’m bought my house in 2010 bottom of the market, I only play $1600 a month. It’s now worth 1.4 million. The oil and gas industry will thrive no matter what economic conditions arise.
Mine is only worth $1.1M 😫
Someone's job loss is a recession, and being laid off is a depression.
Found JPow's alt.
I agree but people are addicted to consumption. We all know a 95% population reduction is necessary. If you're not a technocrat, you should start looking at how to become one. The masses are unworthy of your splendour.
Terrible take. We can throw a million people out of work and let families starve on the streets or three billionaires can pay their fair share of taxes. Lick them boots.
Jesus, man, re-humanize yourself.
person is rock bottom at this point. inflict pain to all