Re:Min wage would be $44 / hour if it had grown at same rate...
by mstipetic on Sunday April 11, 2021 @03:02AM
(#26768109)
It’s easy to make a profit when everyone is strapped for cash and you have an infinite supply
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Re:Min wage would be $44 / hour if it had grown at same rate...
by bawolff on Sunday April 11, 2021 @03:06AM
(#26768133)
There's no such thing as infinite money. Cash just symbolizes value its not actually "value", and you can't make infinite value by just printing infinite cash.
Re:Min wage would be $44 / hour if it had grown at same rate...
by imtringued on Sunday April 11, 2021 @07:07AM
(#26769419)
The banks don't have to manufacture the product. They just sell it. The easy money is the profit margin on the lending activity because the profit margin is usually constant, regardless of the state of the economy.
I'm not saying banks are evil but they do have it easy because they are core infrastructure that people don't want to live without.
Re:Min wage would be $44 / hour if it had grown at same rate...
by mstipetic on Sunday April 11, 2021 @04:16AM
(#26768522)
I’m not the person you should be explaining that to
Re:Min wage would be $44 / hour if it had grown at same rate...
by bawolff on Sunday April 11, 2021 @04:58AM
(#26768704)
You seem to think that the government's control of the money supply means its easy for them to make a profit.
Re:Min wage would be $44 / hour if it had grown at same rate...
by mstipetic on Sunday April 11, 2021 @05:11AM
(#26768772)
No I think that it's easy for people that got the bailout to make a profit while being flush with cash in a crisis which they themselves caused, with no repercussions. Printing that money devalues everyone else's money, so it's basically a transfer of wealth from everyone to wall street.
Re:Min wage would be $44 / hour if it had grown at same rate...
by speedplane on Sunday April 11, 2021 @03:08AM
(#26768144)
> It’s easy to make a profit when everyone is strapped for cash and you have an infinite supply
I’d expand this... It’s easy to make a profit when everyone is strapped for cash.
Re:Min wage would be $44 / hour if it had grown at same rate...
by downandout on Sunday April 11, 2021 @07:50AM
(#26769628)
Perhaps, but the point was that these banks in no way “socialized their biggest failures”.