Comments by "" (@jmitterii2) on "Wall Street Millennial" channel.

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  9. Globalization or whatever nonsensical stupid term they put it, wasn't and is never that red hot. All it is, is new colonialism. Using despotic and or highly destitute nations to become perpetually "developing nations' rendering its population poor over it's supposed super growth period, only assisting a smaller portion of its population to become better off. It's inauthentic comparative advantage tantamount to slave labor. In the long run, this colonialism does what it does best, makes a robber baron class that becomes so overtly tyrannical as the long term aggregate demand among the masses goes down... a race to the bottom, this plunges all economies into mass a malaise and recession boom bust periods. Only a few do well in such a thing, the robber barons. But they cook their own goose as, again, aggregate demand goes down... again plunging the economies into recession boom bust. The rich start eating each other consolidating businesses and political power into a fewer cohort faction of oligarchs. It's nothing new. And it's nothing good. You can just call it robber baronism. And environmentally on resources, it's dumb. Very dumb. It creates very inefficient supply chains that make no sense whatsoever. Because the comparative advantage is not authentic... the nations producing at a cheaper price are only able to do so due to destitute and often oppressed labor. This labor really never enjoys the fruits of their labor and never contributes to a virtual cycle of real buying power, and it ruins other more liberal free and collective labor forces wage/salary buying power. In addition, subsidies that these corrupt and/or tyrannical nations create supply chains that simply make no sense... requiring various inputs and sub-assemblies to be scattered and collected then sold far from each other wasting vast amounts of resources in terms of transportation costs. Selling at a loss via government subsidies, it puts strain on raw collection of goods. And uses vast amounts of energy than otherwise. Notice under this so called "globalization" that all nations with authentic comparative advantage: the nation has the actual resources in abundance comparatively, they have a labor force comparatively better equipped and educated, that nation has something the other nation does not. These nations get the so called curse of abundant resources. They stay miserable crap holes in perpetuity. Same phenomena under colonialism. Again, this so called globalization isn't new. It's robber baronism. It's exploit labor and force relatively better off nations into the same race to the bottom boat to the benefit of a very few until it falls apart under it's own contradictions. In fact, throughout history, the explosion of this type of inauthentic comparative advantage trade often getting a coin from the triangle trade, or olive trade, or silk roads, or fancy ones like Rome's so called Pax Romana under Octavian, or late bronze era collapse... Today, it's cutely named "globalization". And that name is recycled from 1920.... as it was used leading up to the great depression, that lead to WWII. Indoctrination is a horrible thing. Most of economics has become that tool to utter pure unadulterated nonsense. The study that literally can't predict anything with any accuracy, and is just used to manipulate markets and nations. It's why it doesn't actually get a Nobel Prize... Nobel realized early that giving such a prize in economics is propaganda. As economics isn't a real scientific study, but more of a philosophical study and possibly worse, not a science at all. Either way, he knew such awards in that social political study would be a propaganda mouth piece that aristocrats could use to manipulate nations. Later on, however, and unfortunately, Sweden decided to produce a prize for economic propaganda. Because they wanted that power. And they took it. So they devised a prize given to economists among other economists aka propagandists... called the Economic Prize in Memorial to A. Nobel. So globalization... or whatever nonsense you want to call it. Is not a sign of good times ahead... but sign that robber baronism is at a late stage nearing its boom bust oscillations into collapse. It's suffering its contradictions to the point of insolvency and consolidating into an implosion. Trade is good when it makes sense. Trade is not good if it doesn't make sense. Inauthentic comparative advantages only make sense to robber barons... and for the "short" run. Long run, they eat themselves Consolidate. As for the mass of people, they fall in aggregate demand.
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  10. Crypto, particularly the "tokens" where I can issue whatever quantity and dump them to morons who will buy them.. and especially sell these tokens as if it's some stake in some "project" is a share or bond security. Same as if I were to make side bets off the larger exchanges stock or derivatives (side bets)... and as stated in this video all such side bets on stocks or other securities must be registered to the SEC. Crypto blockchain tokens can still be thought of as both a security as the developer issued the program and had time to pre-mine these into existence before opening the block to other users to mine them. And of course once mined they're a "collectible". And if promoted the same as a token... they're still a form of a security, more than a collectable. So really, all this crypto stuff was unregulated sets of IOUs or implied IOUs... or side bets on those IOUs. Something that must be registered and approved by the SEC. And even collectibles like this must be at least approved in some extent as a payment processor thru the FTC. Really, none of this was happening. Hence the giant cluster mug that is crypto . And the dubiousness of it all, as no merchant long term has really accepted the stuff. Even the dictator who has declared BTC an official currency for El Salvador; the citizens essentially don't use it, and will rarely accept it; even though its required by law to accept it... most don't have any nor want any. And if they get it, they immediately get rid of it for USD. So nobody other than a few dictators, criminals, and speculators use it for anything. And you can't really buy anything with it outright. You have to find someone to buy regular currency and purchase with whatever you were able to get at the time. Crypto is sort of a potential problem for a long time. And when tokens and other such chicanery became a thing like "exchanges" what were not really SIPC and FINRA registered and given oversite... the entire thing was a trip down Milton Friedman let scams (markets) be quackery lane. For a bald coke head who loved to rant about unintended consequences... anything in life has them and using that as some excuse not to regulate to ensure various measures against fraud via oversight and audit requirements and the like... Well, no rules aka regulations and no independent trusted oversight has it's own unintended consequences... chief among them a complete collapse and saying goodbye to whatever real or magical internet money you might have thought you had. I'm just surprised USDC and USDT still exist at this point. Some long standing, essentially open frauds... ten or so more years from 2023, they're last as long as Madoff's big ponzi.
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  22. These for profit businesses have no business going into space because it's not profitable. It's not a for profit competitive enterprise human objective... just like judicial, police, military, healthcare, education, basic natural monopoly utilities: ports, roads, sewers, water, electrical, etc. are not the domain the business of for profit enterprise. Forcing as such simply doesn't work as for profit is not efficient in providing the goods, the quality, the advancements, nor the moral pre-requirements of objectivity and impartiality. Our current technology does not allow space to be "cheap" enough for money hungry sociopaths and psychopaths to exploit. There is no exploiting economy of scale... in fact that is the reason why healthcare, basic utilities, education and research, etc. have no place in such sectors: they have inelastic demand curve (healthcare) and huge economies of scale requirements. There is no margin for them to pig themselves out on without diminishing and destroy the very service they're pretending to offer. You just get pretending. Bogus bullshit. Research? There is no immediate reward for a robber baron parasite to feast is fungal fangs into. Nothing. They can go stay in the casino business of scams and hustling people to buy another juice it like mechanism that does nothing but squish fruits and veggies an over priced pure' machine. Leave them in the realm where they belong, that of grifting and hustling; those without much ability to spot hype and stupidity can get eaten alive and learn from being duped. And the rest of us will know to stay well clear of their cons, and avoid getting the fungal infection from the spores of these human fungi.
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  34. Yeah, he screwed aristocrats including millionaire actors who play billionaires, and a (once was) hundiehaires worth 300 million sports player. Along with several other hundiehaires millionaires and some actual billionaires. So he's going away for a long long time. Recent news, he lost his probation and is waiting his trial in prison now. He screwed the rich, the oligarchy. Had it been us peasantry retail dummies... they would have allowed him to retain all assets, mansions jets yachts whatever and allowed for a long court battle that would have either fizzled to a settlement with a slap on the hand payment and probation... or nothing at all... Mike Saylor same guy who has been pumping BTC since about 2020... criminal settlement on publishing false earnings 3 years in a row 1997 to 1999. He paid his settlement with company money and went on a decade long drug binge. Until that 2020 show up on pumping bitcoin. E. Holmes of Theranos infamy... she was acquitted on medical malpractice... so the peasants don't matter at all, as far as our aristocracy the working person majority can die. Holmes was found guilty on four counts of defrauding investors – three counts of wire fraud, and one of conspiracy to commit wire fraud. She was found not guilty on four counts of defrauding patients – three counts of wire fraud and one of conspiracy to commit wire fraud. Lesson... grifters and scammers can defraud the peasantry, even literally sell them phony medical stuffs and services that can put them into the grave. But you have a millionaire or billionaire lose some money... Oh you're getting it.
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