I don't think those hypes are proppin up any the economy. Basic needs, like food, do. Those hypes are like the furniture in top floor of that building.
this post was submitted on 12 Oct 2023
179 points (91.2% liked)
Memes
45527 readers
1056 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
Sure, that's the real economy, but the way the west measures it is largely based on how the stock market is doing.
I'm in the west and i don't. I think we like to use GDP and Inflation. Those could be better, but they are not too bad. The stock market is mostly for gambling.
A lot of the mainstream economists in the west focus on the stock market, even of you don't personally.
Meanwhile, GDP and inflation are not great measures either. GDP in particular is very problematic because it doesn't measure productive labor. For example, health insurance industry is a large chunk of the GDP in US. It employs a lot of people while producing nothing for value for society
And the problem with inflation is with how it gets measured. For example, food and housing prices are growing far faster than the official inflation numbers.
Forgot quantum computing hype!
Quantum computing? That's so 2010. 😅
Blockchain hype
Dead, buried, brought back to life, shot, brought back to life again and grafted to AI, beaten with a shovel, and currently laying in its own piss hoping 2024 is better to it.
Oh and Swift is apparently using chainlink for bank transactions, although most are wondering why on earth this would make chainlink holders any richer instead of the dev team and Sergey himself.
(it won't)
I think the actual story here is more interesting than the joke, to be honest. Where did this happen?
it's from an earthquake in Taiwan https://www.straitstimes.com/asia/east-asia/taiwan-earthquake-tilting-residential-complex-used-to-be-most-expensive-in-hualien
The beam already on the ground should say "irresponsible monetary policy"
That's just blockchain hype in disguise 🥸
I'm talking about the Fed, but you better believe that money found its way into crypto and startups with dubious value props
If the Fed can't provide good monetary policy, then one of those value props isn't dubious!
You're not wrong
The economy has never been stronger. If you don't count the few tech & crypto focused banks that collapsed early in the year.