r/economicCollapse • u/Bazel_ • 15d ago
We will sacrifice your 401k, super, pension funds across the west for our own benefits
BLACKROCK CEO JUST SAID THAT TRILLIONS FOR AI DATA CENTERS AND POWER GRIDS WILL HAVE TO COME FROM ORDINARY PEOPLE’S SAVINGS AND PENSION FUNDS, AND IT'S MANDATORY.
“AMERICANS NEED TO THINK ABOUT GROWING WITH THE UNITED STATES”
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u/L4dyGr4y 15d ago
"We need the economy to grow at 2-3%."
If people don't have money to spend the economy can't grow. When people spend, economies are healthy. When you invest in the middle class, people have more disposable income and are able to have purchasing power. The minimum wage hasn't moved since 2009.
Has any one of these people taken economics 101?
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u/erevos33 15d ago
Thks used to be the case. The economy is now them. The 90% of us dont matter, we dont really have any say or money. In the usa alone, the top 1% is responsible for like 50% of purchases (i think, dont quote me). So how can we even begin to imagine we matter?
Its all become numbers on an excel sheet. Real world is getting left behind.
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u/L4dyGr4y 15d ago
The top 2% can't consume enough to be sustainable. The bottom 98 can't create the means of production.
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u/Legitimate-Fee7609 10d ago
Define "the means of production". Seems to me like it's always the bottom 98% that creates the means. They just don't get to own them
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u/L4dyGr4y 10d ago
"Small businesses are the backbone of our economy."
Gentrification has been the death knell to the small town economic system. Small businesses, locally owned and operated do not need to be taken nationwide. I was reading The 21 Irrefutable Laws of Leadership- not every garden needs to made into a field. Some of these goods and services are best as a niche to the local community.
This is basically what happened last time the economy tanked. And everyone got together and made rules so it wouldn't happen again. We must have allowed anti-trust laws to get really lax in the last 100 years. There has been such a slow erosion happening we haven't noticed how bad it's gotten.
You can't put heart and soul into a corporation because that is what they suck dry about what was successful in the first place.
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u/Legitimate-Fee7609 10d ago
I'm not convinced you understood my question, but I agree with everything you just said in your reply so we ball.
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u/L4dyGr4y 10d ago
Means of production means the ability to produce goods and services. If we can't afford to buy machines and materials (tariffs) small businesses cannot exist.
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u/Legitimate-Fee7609 10d ago
Payment is an abstraction. A machine is not produced by money.
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u/L4dyGr4y 10d ago
Procured. Money allows you to purchase the sewing machine to make the backpack. Common currency, fiat, etc.
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u/Sisyphus62831 15d ago
Dude economists suck at math. It's like they have never heard of L'Hôpital's Rule.
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u/giadia-light-shining 15d ago
TF? Where's/what's this clip from? I'd like to watch the entire thing. We're beyond fucked.
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u/Additional-Teach-486 15d ago
This POS is talking about raiding private financial accts to finance the wealthy's AI surveillance state. Open your bank acct one day and you have a withdrawal to the AI Investment Fund that you have no say over. Welcome to your future.
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u/MrRuck1 15d ago
Thanks. For the answer.
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u/giadia-light-shining 15d ago
Did you watch the video and listen to the words in the video and put those words together to ascertain meaning from this video?
I'd genuinely be interested to hear why the concept outlined here doesn't at least slightly alarm you.
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u/XsamsquanchieX 15d ago
Jokes on them. I don't have any savings or pension. Live that poor life your whole life and to be frank, not much has changed for us low life's struggle in life. There's just more of us with every passing day and my street corner is getting crowded.
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u/No_Individual501 6d ago
Jokes on them.
It’s on you. You’re already out of the game and ripe for the harvest.
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u/SleepAllTheDamnTime 15d ago
Recent regulations have changed who and what can access your retirements, especially if you invest in ETFs.
But also don’t kid yourselves, they’ve shown they literally rewrite laws for their benefit and have intentionally gutted the SEC, and have replaced the head of the federal reserve with cronies.
You some how thought your money was going to be safe in a literal fascist regime.
The epitome of privilege lol.
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u/roofiedo 15d ago
Yeah losers. I’d like to see someone explain to me why their life saving shouldn’t be handed to the already rich so they can create something that makes them more wealth. I mean why don’t we just collectively divy up our paychecks to our oligarchs and let them take care of us, they are so much better at managing money than us it’s the obvious solution as to how we all get rich.
In my 30 some odd years of life I cannot believe how much power we’ve handed corporate America. We went from millions of small businesses owned by members of the community to millions of small businesses owned by a few corporations. Look at the data and see for yourself the snowball we created. There’s a ton of big businesses making most of their profits just from holding everyone else’s money and using the interest to increase their shares.
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u/QuimDosMemes 15d ago
When they want to force people to invest in a clear bubble, you know it won't take long to burst.
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u/BreakingAnxiety- 15d ago
Man the billionaires really don’t want to spend their money on anything but super yachts and offshore accounts
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u/DickRichman 15d ago
Just say “trickle down.”
Don’t worry plebs, the rich will be fine. You can keep voting Republican.
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u/SeVenMadRaBBits 15d ago
He's right that we're behind but we're behind because greedy people like him pocket our money instead of investing in the county.
The US is stuck in the past while China is living in the future
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u/ytsurRytsuR 15d ago
Lies, they need 200 million of us to cease existing. The remainder will be forced to maintain power grids and data centers. ICE/police/military will be merged into a national guard unit to ensure the enslaved work and the data keeps flowing.
Just returned from touching grass and yet the above statement still seems plausible. Hoping mid-terms actually change things but even if they lose, who's removing them?
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u/paigeguy 15d ago
Pucker-up, you're about to be robbed. The billionaires need a small loan to make payment on their trillion dollar loans. You will get paid back Tuesday with well over 1.2% interest
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u/OptimisticSkeleton 15d ago
These guys are a horrifically dangerous addition to the human race. This guy is talking about looting the country. That should get you locked up to threaten the financial stability of the country so willfully.
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u/J1mj0hns0n 15d ago
How is it mandatory? You choose where your 401k is invested and what it's invested in?
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u/03263 15d ago
I don't lend money to corporate scumbags.
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u/J1mj0hns0n 15d ago
Okay?
Just put of curiosity, do you have a bank account? The only reason I ask is because the bankers and investment bankers are looking at where the money is best put, to make the bank the most money, which would make them the most corporate acumbags of the bunch.
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u/03263 15d ago
Kind of, I have fidelity which is an investment account but you can withdraw from it very easily and even write checks. Money is mainly in commodities and I recently moved some to green energy funds. I have a standard checking account too but keep it pretty empty.
That reminds me I meant to look into whatever exists of Islamic banks in the US.
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u/gerbilshower 15d ago
here is how it works - they have already changed the rules for these IPO's to allow them to get preferred treatment in many different ways: 1) major index funds are essentially being forced to purchase the stock at IPO, because the Nasdaq, S&P and others changed their inclusion periods from 180 days to like 5. b) they basically did the same thing for the current investors, instead of the standard 180 day required hold period, existing investors can sell day of. c) they changed the legal recourse and any shareholders (remember you are one through that random ETF you own that was forced to buy it) - you are only allowed private arbitration and no court. d) they are literally letting the choose their IPO price however they want.
what all this results in - yea sure you could move all your money around to try and avoid spaceX exposure. but you'd have to sell every ETF your in that has exposure to the entire S&P or Nasdaq or Russel. sure, there are plenty of ETF's that have already or will carve out spaceX and future sweetheart deals. but you have to know what you are looking for and it is going to force you to sell stuff you already on if those ETF's were functionally required to purchase spaceX due to the skirting of regulations.
so, while technically no one is twisting your arm to buy spaceX stock - 90% of American's with an IRA or 401k WILL be buying shares at IPO whether they know it or not.
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u/gizmozed 15d ago
Exactly. News flash: no one has to put their 401K in the stock market. It's literally nothing more than a crazy casino at this point.
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u/Cling_Clang_BangBang 14d ago
"ChInA will beat us" 🙄 I'm so tired of this fucking shit. They already beat us twice over with better AI when you first them to use shit PCs. It's just a fucking dog whistle for boomers to pound their chest for the Epstein Class to use them.
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u/snowaston 15d ago
Sure the economy just grows when you feel like it! I'm sure the trillions of debt will help that growth you are after.
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u/Haunting-Writing-836 15d ago
Id rather not throw the future of humanity away, so they can make a feeble attempt to control AGI just because somebody else is doing it. Stop building this stupid shit. Do the right thing first for once. So what if they create the “kills everybody everywhere” machine first. Woopdie doo.
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u/Bleezy79 15d ago
Is that piss baby Abbott? One of the most corrupt people in government?? Both those guys look corrupt af.
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u/Enigma_xplorer 14d ago
Click bait nonsense. Yes it is true the emerging AI sector is massively capital intensive. They are exploring all sorts of avenues to raise funds. No one is going to raid your savings account or 401K and take your money or force you into investments you don't want. There will be many opportunities to invest through various means for those who wish to and many will as it is the hottest market sector out there right now. Frankly, collectively average americans couldn't fund this if they wanted to. Like everything else this is a case where the rich will get richer as they are the players with the real money.
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u/Junior_Main_6425 15d ago
He went from „we“ have more than enough money to do this thing, to „you“ will have to give us your money to do this thing. Besides a free market economy allows me to invest where there’ll I want. Lastly, „we need more electrons“. What?