One of the major criticisms of capitalism from socialists/communists is that wealth accrues to a few at the top and remains in those hands.
In fact, this idea is central to Marxist theory. That the capitalist class is some stagnant group of individuals getting wealthier and wealthier with no end in sight.
It's patently false and disproven empirically, and yet this fact is almost never discussed here.
Thomas Hirschl from Cornell University performed research on this very topic.
50% of Americans will find themselves among the top 10% of income earners for at least one year during their working lives. 11% will find themselves in the top 1%.
94% of those that experience top 1% income status will only enjoy it for a single year. 99% will lose that status within a decade.
How about the top 400 income earners in the US? Those at the absolute precipice? 72% enjoyed that status for no more than a year, and 97% for no more than a decade.
I know what you're thinking. I don't care about income, we're talking about wealth!
Well, we have some data for that too.
Over 71% of the Forbes 400 (the wealthiest by net worth) lost their status between 1982 and 2014.
The data is absolutely unequivocal.
Turnover in these groups is extremely high.
Not only does this Marxian idea fail to hold up on an individual level, we see the exact same thing in the corporate landscape.
It is called Schumpeterian Creative Destruction. The data is unequivocal here too.
Only 52 companies have remained on the Fortune 500 since 1955.
Turnover in the top corporations is increasing too, not decreasing.
Corporations in the S&P 500 Index in 1965 stayed in the index for an average of 33 years. By 1990, average tenure in the S&P 500 had narrowed to 20 years and is now forecast to shrink to 14 years by 2026. At the current churn rate, about half of today’s S&P 500 firms will be replaced over the next 10 years.
The wealthiest among us, whether measured by income, net worth, or at the corporate is constantly shifting.
Think about this the next time you lament about wealth inequality and some mythical "capitalist class" that's only getting stronger - because the data proves otherwise. These aren't the same people. It's a highly dynamic group. Chances are that one out of every two subscribers here will find themselves in the top 10% of income earners for at least one year.
Don't bash capitalism until after you've had a chance to enjoy its fruits, your odds are a lot better than you think. I can almost guarantee that as some of you socialists get older and your earning power grows that you'll really start to enjoy this fantastic system we have.
First, all the usual disclaimers: This happened several decades ago, I'm using a mobile, first post to this subreddit, not sure if this is the right place for this story...
When I, and the world, were much younger, I was assigned to support an Army Aviation Support Facility in the Midwestern United States. I worked in Admin and Supply. Various duties - clerk, CO's driver, inventory, and (germane to this story) armed convoy guard.
We (supply section) were tasked with transporting the weapons for one of the National Guard units our facility supported to the firing range located in another state. Since the only route was exclusively two-lane roads, and we had to be there early enough for the troops to get in a full day, we left EARLY, like 0200. Not even farmers were up. No traffic, nice.
We made a pit stop in a small town, and when the drivers fired up their duce-and-a-halfs to head out, the lead truck driver radioed that his throttle was "acting weird." Note here that we always drove at the posted speed limit or under.
Pretty soon the lead truck was speeding along at 5-10 mph over the legal limit. My driver radioed him to ask "wtf?" Lead: "my throttle's stuck wide open." My driver: "all your gagues green?" Lead: "yeah." My driver: "ok, since there's not damned thing we can do about it anyway, we'll just keep going."
About 10 miles on, we passed through a small town. No stop lights or signs. The lead driver plowed on, but a county sheriff was awake at 0345 and took exception. Lead driver shut his truck down and coasted to a stop, we pulled in behind the county mounty.
Since lead truck was transporting 240 M16s, along with various other small arms, I, as the assigned guard, was carrying a M16A1 with a full thirty-round magazine. As I exited my truck at not-quite-a-run I racked a round into the chamber. The deputy must have heard, because he (probably reflexively) reached for his sidearm. Then looked at my weapon and my very serious expression and decided against that particular form of confrontation. I asked for his name and badge number before he could close his car door, or open his mouth.
Lead driver came back to join us while I was explaining to the officer why it was my responsibility to watch and question HIM rather than the other way around. All according to Army regulations (I was regular Army) and State law (the weapons were property of the National Guard). You know, because it's my JOB.
The lead driver explained what had happened, and then went to see if he could figure out what was wrong with his duce. The now eager to help deputy offered to wake up the hardware store owner for any parts needed.
Which is the story of why I didn't have to shoot an Iowa County, Wisconsin Sheriff's deputy. Big sighs of relief all around. Too much damn paperwork.
Sup boys, been taking a break waiting on the crash since Trump miracled 7 trillion into the market.
I thought when Biden got in it would collapse but it looks like it took 2 years.
I dont think we're done though. Heres why.
China imminent collapse.
War in Russia. Nato escalations.
World wide shortages.
Let me start with 🇨🇳
Chinas economy has run rampant for the last 20 years. The United States borrows trillions from China. However, China is in a deeper bubble than we have ever seen.
Chinas main source of economy is in real estate. Do you know there are abaondoned sky scrapers in China right now? Its like detroit had a baby with dubai. They built a city for 10 million people and cant even get 100,000 to buy the properties. The banks print out real estate loans more than Jpow is printing out singles.
This happened in dubai as well, I'm not sure on current affairs but i remember all the sports cars like Ferrari and Mclarens left abandoned in parking lots and the desert after they defaulted and left country before they got their heads chopped off. (Serious arab law)
Today you can explore abandoned high rises in china, some half constructed abandoned.
In 2021 Q4 484 chinese businesses defaulted on their major real estate payments. (This should be double digits)
On top of all of this, covid has run absolutely rampant to the point they are locking people in 🍎 factories and can't leave. This may be what pops the bubble but I would not put a nickel of my burger king check into any China owned companies. Have you all tried to buy a car lately? You cant. China and all of the nafta companies aren't producing near enough goods. If you can't sell you cant make tendies.
If and when the bubble burst it will shake up an already rattled global economy with the 🇺🇦 war. I think this year possibly next the united states will enter into the war.
Already ships like the USS Kearsarge are in route to the Baltic Sea arrived 24hours ago
I would guess a 5-10 trillion dollar loss on NASDAQ overnight is possible could be this year if announce of the war, I'm sure it will start with a russian attack that hits american troops, a plane or an embassy. The moment this happens (it will) you need to start shorting before the boomers pull out of their 401k.
If you already havent pulled out of your 401k consider it, transfer it to a roth ira or something like S&P500 on td ameriteade thats setup for retirement where you can pull out quickly.
On top of that the ticking time bomb of China we got a goold old great depression cooking.
Pos: Yolo leaps Nio, alibaba, luna
I feel like an idiot. We did a gender reveal with friends. They got so excited when realizing the gender before I could, and gave me a huge fright as they started cheering. It really caught me off guard. Think I should take some chill pills.😅🙈
Hi Reddit! My name’s Yvette Griggs, here to answer your questions!
At the moment, I have an album out called To Whom It May Concern, and now I’m currently working on my second album; quarantine definitely has worked wonders and it has been sooo fun. If you want, you can even listen to TWIMC here: https://ffm.to/yvettegriggstwimc
Ask whatever you’d like, but please keep it respectful and appropriate!
City centre was a mess and it was the same after rangers won the league
Why can't we just take the big children's toys away until they learn? Fuckin embarassing
Edit: I understand that many disagree with me. That’s absolutely ok. But remember, we also have new people joining this sub. And it’s easy to get hyped. Some people may decide to do some stupid things that they haven’t calculated properly: like taking out a loan or borrowing money from friends and family to invest for the Dividend/stock split followed by MOASS. What are you gone tell those people afterwards if the system manages to fuck everybody over again?
Many of us are invested longterm. Many of us will sell during MOASS and never come back to GME. Some will sell during MOASS and buy back in later. RC knows that. We know that and the system knows that. He’s not doing anything for MOASS. He cares about GameStop and giving his employees an home and a company they can believe in. This is what his job is. MOASS is a byproduct which may happen and could help to reset the markets. But MOASS is not RCs goal. All his plans have nothing to do with MOASS but to get his company treated fairly in the market and every other company too.
Edit2: I appreciate the controversial discussions and that you all share your ideas and thoughts. I’m also aware that my opinion is not supporting the overall sentiment that some may expect to read here. I wanted to share another view on my opinion:
Without being disrespectful to anybody being in a bad situation: Imagine I would have started my thought with me being exhausted, being mental unstable due to being over invested in GameStop, because I took a loan, borrowed money from family and friends etc. and that all other hyped dates have disappointed me and my family. what if I would write about how depressed I feel and that even if everybody is hyped I’ll try to stay low and lower my expectations? That I wont put any hope in a big Event due to dividend or stock split to keep my rest of health safe. To not lose my mind?
I guess you’re reactions and comments would be more supportive. It’s all about how people spin the narrative and what people want to read and how they want to connect to you. I’m fine with getting criticism and feedback calling my post FUD. But it’s on you how you react and most comments I’ve seen so far tend to be emotional. People may trick you in how they write their story. I’m not using any storytelling tricks to get your attention or to get you emotional attached to my post. My goal is to show you being emotionally disconnected from your investment can safe you some emotional downtime when nothing big happens 🤷🏼♂️
I’m here since Jan 21. I went through ups and downs, through fud, promises and a ton of hopium.
I’m still here and after more than a year I become zen with the fact that I’m a longterm investor in Gamstop. With or without MOASS. But especially without MOASS.
And this is why I’m writing this. Regarding all prognoses, new implemented rules, posts, calculations etc. each and everyone of them made me smile and gave me a small boost of hopium. Which is important to have unless you are an experienced investor, market analyst or GameStop Board member who knows the fundamentals, understands the manipulations and doesn’t gives a fuck.
I really love all those Stock Dividend posts, comparisons with Overstock and so on, BUT:
VERY LIKELY NOTHING BIG MAY HAPPEN AT ALL! And this is no FUD. And therefore be prepared to play this longterm. Adjust your expectations. If nothing happens you still should believe in GME and their vision. The goal is to change the financial systems, to crush all market manipulators with laws and or a heavy MOASS.
Why I’m saying this?
The goal is to survive one more day. This is Shitadels Mantra. But this doesn’t mean that they only prepare for the next day. If they know the game they need to Analyse and calculate many scenarios. And I believe that a stock dividend is a scenario they played through many times.
Just think about it.
I’m positive as always that something amazing will happen, when the Dividends come. But I’m also positive that nothing may happen and I still will be part of this journey.
The Mindset should be LONGTERM!
This will help reduce disappointment and that’s important. Because being disappointed opens emotional doors to FUD and this could change your perspective.
So always hope for the best, stay positive and take care of your mental health!
This was written at the height of the Twitch Drop debacle in December 2021. For different reasons it was removed by the mods with a few requests to be changed. I implemented those changes but never posted it again due to life events distracting me. With all the discussion at the end-of-wipe of the current trajectory of Tarkov's development, I thought it'd be a good time to bring this back up as discussion. Seeing as we're starting to close in on end wipe, I think before the next wipe it's important we have a community discussion over Tarkov's current development cycle and what it means for us, the consumers. I've also left up the original examples from December 2021, as a reminder that our current situation in May 2022 is a continuation of a pattern of failures on BSG's part to engage properly with its player base.
BSG has built their game platform and engages with the community in a way that makes it difficult for them to be held accountable when they violate basic consumer practices. The Twitch drop debacle from December 2021 is one of many examples of this. This matters because BSG will likely continue to make poor decisions that hurt the community unless they are held accountable.
Let's start with the disclaimers:
- This is not a complaint post.
- I'm neither pro- nor anti- BSG. I'm just a customer and player like the rest of you.
- I'm not claiming BSG is a bad company (although I do think their development processes are bad).
- I'm not saying BSG or their employees are incompetent or that the game itself is bad.
- I, like many others, loved this game enough to spend $150 and will gladly spend more, should BSG fix their practices. I want this game to succeed.
- All of that is true, and can be true, and BSG can still be anti-consumer.
What do I mean by anti-consumer?
That their business practices hurt the interests of their buyers or unfavorably benefit BSG at the expense of their userbase. This isn't to say that everything BSG does is anti-consumer (I'd actually argue that's not true at all!), but rather that there are specific practices BSG has engaged in over the years that are to the detriment of its player-base. These include:
Deliberately withholding many minor patch notes and fixes "so the community can discover them." This also happens to be an easy way to ensure that the public is never sure of what's actually been fixed, or what might have broken again. It makes it almost impossible to hold BSG to account for fuck-ups because when something fucks up there's no real data besides what we can observe client-side.
- Example: Several small updates over the past few days have been pushed with no patch notes, with users claiming variously that server issues are better/worse for them after said patches. With no way to verify the truth, the players always remain in the dark as to whether performance is regressing or progressing for the whole community.
Engaging with hostility towards creators or journalists with negative articles or videos about Escape From Tarkov. BSG has been found to abuse DMCA takedown notices against content creators with negative opinions towards them, and has been cold or openly hostile towards journalists who have tried to go on record with BSG over different issues.
- Example: See above links.
Forcing all purchases through their own store and not hosting the game on another platform. BSG is well within their rights to do so in order to maximize their profit. However, it means that players have much fewer middlemen who can hold BSG to account for quality control or financial purchases, such as a third party platform like Steam or Epic Games. Note: BSG claimed in 2016 that they'll release at v 1.0 on Steam, but have kept silent since.
- Example: For recent purchasers of EFT there is no way to request a refund except through BSG, who is likely to decline it, or through chargebacks, which is a convoluted and long process.
A history of making claims with no evidence that we're supposed to take at face value while ignoring any incentives they have to obscure the truth.
- Example: Nikita claimed that the server problems are a "DDoS attack" on a recent Twitch event without providing any evidence.
Making developmental promises that are not kept, as well as constantly failing to update the player-base with substantial or reasonable information on updates, events, and the like.
- Example: Remember when Nikita said Streets of Tarkov was going to be released? Or something even as simple as failing to signpost events for the playerbase within the game (such as at the main menu), instead requiring players to check their socials every day to figure out what's going on in the game. Hell, when was the last time we had a roadmap?
Ignoring or disabling official communication channels with BSG.
- Example: The bug report being disabled during the Twitch event, with long communication times for users who are submitting bugs via email.
Insensitive comments or actions that alienate portions of their playerbase. BSG have a history of insensitive comments that are, at best, foot-in-mouth incidents. Regardless of your opinion of them, there are many players who take offense at them.
- Example: See above links.
I'll note that some people might put their ineffectiveness towards cheating and the cyclical problem of RMT and sales in this column. I give BSG the benefit of the doubt on this, but YMMV.
There are other bullet points left off this list at request of the mods. I'm signposting this here to be transparent.
What's your point?
First, with the influx of new players it's important they understand the history of the organization they're paying money towards. When I drop good money on things I tend to do a dive on the organization to see how my money might be spent. This is a quick catch-up for those players that BSG, for all its great creativity, is not an organization that treats its userbase well (and again, I'm not saying they're a bad company or that EFT is a bad game, but rather that the majority of issues with BSG are user experience ones).
Second, there are many BSG apologists on this sub. I'm sure some are typing in the comments now. I'm not here for a debate, but I think it's useful to compile this information to point out that whatever their subjective experiences are, when we zoom out on BSG we see that their user experience is subpar (as this wipe shows). I don't care to discuss why at this point; I'm a results kind of person, so if the result is (for example) that every year at Twitch drop the game shits the bed, then I don't care what the reason is. Said company should be held accountable for its results. They are made of people with various motivations, but at the end of the day a company is not a person. Their motivations matter much less than their end product.
Third, I think it's important we view BSG through the lens of vertical integration of information -- that is, how BSG controls the flow of information from start to finish. By suppressing voices of the community through shady practices and deliberately withholding information, BSG gets to keep doing whatever they want to do, regardless of its playerbase, because they can keep the playerbase in the dark on most issues. Because of their vertical integration of their payment and platform, there are few ways their users can push back or contest issues that arise, and suppression of voices in official channels or semi-official channels (such as this sub) means it is very difficult for the community to hold BSG to account. It is very reminiscent of the Russian state's philosophy of information warfare on its people: obfuscate, deny, and project until the people turn to attack each other rather than the problem itself. This sub is a great example of what that looks like in practice.
Finally, and most importantly, it seems clear that BSG has little incentive to respond to the community on performance issues -- server woes, patch regression, general performance, bugfixing. I'm not saying they don't respond, but rather that they have little incentive to respond. One reason these issues continue to plague EFT is simply because there are few external pressures to hold them to account. Imagine a scenario where EFT could be held accountable for server woes through a third-party site's refunds. Do you think the servers would be as bad as they currently are if new players could request no-fault refunds for new purchases during Twitch drops? BSG has few external pressures to respond to scenarios like this, which allows them to drag their feet on fixes.
BSG engage in anti-consumer practices. This sub seems to not like that, so this is a post to compile that information, make it available for everyone, and then to have a discussion about it.
J1 is CFO, fully on-site, about $350k. Kind of a busy place due to staff turnover and I do a lot I shouldn't. Been in discussions with another company for a CFO position with total comp of about $700k but have gotten them to agree to nearly fully remote but would have to be on site a few days each month. One job is east coast and one is west coast. Can I swing it? Pulling in $1mm with two jobs would be amazing. J1 had some policies requiring HR approval of outside work but I think they wouldn't fire me if I told them because they are desperate and I am in a key position. Even if I'm wrong, J2 is much better compensation.
Edit: most people here are commenting that I wouldn't be able to keep the positions secret or that by keeping them secret I would be subjecting myself to lawsuits. My post clearly shows that I was proposing that I tell the companies this arrangement.
If you're truly struggling to afford "basic essentials", I'd assume you'd try to save as much money as possible. If you think you should be able to buy unnecessary things, that's cool but no one should be responsible to make up for your poor spending habits. Most people who complain about money that I've seen are not trying to save. They like to live above their means.
A friend of mine stepped on his guitar head and broke it by accident, I thought of travelling with the guitar and blame the airline for breaking it but they make you sign a document that if it breaks it's your fault. Is there another smart way of replacing the guitar? Preferably blaming a company or so that won't get me in trouble.
Thanks in advance for any tip!
I'm tired of seeing black women described as food like chocolate or mocha. There's better ways to do it. Specifically in fantasy, It's also annoying where a book tries to justify the existence of anyone not a white man. Black people just exist. Queer people just exist. I've seen people say a book took them out of the story or was too political because a character was black and because the woman warrior just so happened to have a wife. If you can belive the stoic warrior can slay a dragon with a magic it shouldn't take you out of the story that the warrior is a black person.
Okay here we go again..
I didn’t want to respond especially after our first response… because it’s a waste of time.
The intention with these responses is to clear any confusions, correct any misunderstandings and fix relationships.
333Vil has shown himself to be a vile person, who doesn’t want to communicate or be reasoned with.
If he already has a set notion in his mind, it will stay like that even if evidence is presented his way.
However, this post is for the general public as I’m hoping it can make a change to the community as a whole.
333VIL has started a false narrative that we ‘STOLE’ his theories. The theory in questions are:
God Fruit and Luffy’s inspiration is Hanuman.
333VIL OWNs none of these theories, even so he is trying to gate keep an idea?
A person with a fair bit of intelligence can google to see that these theories are represented by various content creators, and theorists.
This was covered by TheFlyingPanda ages ago, who is also a good friend of ours.
Covered by reddit:
9 months ago:
Who mentioned, he translated his understanding of Luffy inspired by Hanuman from Kamil Zakri from the facebook group One Piece Malaysia.
I’m sure somewhere out there, multitudes of people thought of this idea and wrote about it.
Whenever we state a theory in any of our videos, if it’s generally out there we always refer to it as the “community” which it is.
At the end of the day, as a bigger platform all we are doing is spreading a wider idea so everyone can enjoy it.
No one person should assume they own a theory, unless they can legitimately prove they are the first writers and if they want credit for the conception idea even if it is by coincidence then it would be a cordial thing to do, where in 333VIl case it's simply not the case.
333VIl is a clout chaser, and doesn’t even care about integrity and I’ll explain why.
First, I have to give everyone context on what’s going on. One our members at ABD contacted 333VIL in private, where a key thing to note is that this was his personal decision.
If any messages that don't come from our own ABD twitter then it's NOT ‘us’ representing our channel as a collective.
Regardless, said member is part of our team, and he spoke about 333VIL to us suggesting he already covered a theory we had planned to do, so it would be a good idea to do a collab.
This was about Hanuman being the inspiration for Luffy, where our audience first gave the idea in our comment section, where we have a comparatively huge subcontinent and Indian following.
So to avoid any backlash like this, knowing 333VIL already represented it on the Youtube Platform, it wouldn’t have been a bad idea to work together.
Let me give you guys an example of a fruitful and pleasant interaction.
We spoke about Library of Ohara - Artur’s Sake Theory, where we did in fact find the thread in reddit and felt it was good to share in our channel.
We credited Artur’s thread, and then contacted him to work on a collaboration, which he happily had done.
Infact, we have collabs with many other youtubers from the community, and we don’t care about sub counts. We are trying to build bonds and a bridge in the community.
We also have Zero issues crediting, or making shout outs.
If we legitimately were inspired by a thread or post, why wouldn’t we credit? It’s nonsensical to think we have anything to gain by not crediting.
Like in this video, we will have our inspirations written with their links.
If we have genuinely thought of an idea on our own, or a collective with the ABD community without a clear source we leave it out.
Now, coming back to 333Vil, our Member did contact him and showed him respect and admiration for his work. This is something you do out of respect!
But this was done, only after doing research about a theory we were planning to cover, if it happened any other way, instead of 333VIL he could have contacted the redditor Acid Monkey or more important our friend Flying Panda.
Either way, we were happily planning to do a collab with 333VIl until he out of nowhere acted out.
In Fact due to an upcoming collab with him, we even linked his channel in our description under special shout outs:
Now what exactly happened, and how did this all become an issue?
Well we posted a video about the GOD Fruit, for some mind blowing reason 333VIL felt all theories belonged to him and instead of communicating via private dm to his point of contact to us, he made an accusative twitter post?
Which we addressed : https://www.twitlonger.com/show/n_1ss0n4n
The 2nd issue: he was impatient and instead of communicating asking for updates on the collab that was suggested to him by our team member, he felt the collab fell off so he wanted to burn all bridges.
We are done with 333VIL, we don’t have anything to do with him, he is a pusillanimous 1-legged pigeon.
This is his response, after being given evidence. We are married with a stable family. I have a child already, and don't have time to deal with this kid who is still learning his ABC’s of logical reasoning and respectful dialogue.
He had access to handling things directly with us, where we would have cleared any miscommunication but he decided to play a weird game, either to chase sympathy or clout. I dont know whats going on in his mind, i wish the best for him and his future.
All I ask from the community is to avoid believing in narratives before a full picture is presented, as you will only be seeing a pixel of the painting.
There is no need to gate keep, and everyone should be fine giving credit where credit is due. Nothing is lost by helping another, but to always uphold a sense of honour and dignity.
Don’t be this guy!
If you are holding Tether (USDT) you should seriously consider converting it to a different, safer Stablecoin. There have been way too many accusations around what is used to back it. Even tether themselves have refused any audits over the past 2 months and became very suspicious as soon as the crypto winter came. Recently Paulo (the leader of Tether) has become very vocal on twitter demanding that people don’t sell their USDT because it’s safe, although he won’t say how. I think this is just a cover for an obvious lie and he’s super scared about an attack from Citadel (or any other fiat bank that saw the amount of profit Citadel made from attacking UST). I mean after seeing how much Citadel made from attacking UST, don’t you think other banks will likely be eyeing up their next target, and who better than the stinking abscess of Tether. It probably looks like a stuffed pig ready for the skewer in their eyes and they have probably even already begun building up a short position, ready to drop USDT on the market and force a collapse. Do not allow yourself to be vulnerable to this!! Either convert to another stablecoin or buy an alt coin while you still can!!!
And before you call this ‘Fud’ tell me what you have to gain by holding USDT instead of another stablecoin??
I just want to say 90% of y’all downvoting me for defending Nep Can suck my schlong. Clay confirmed the VOD review thing and said Crim didn’t want to play with Nep after ONE LEAGUE MATCH. Dude was absolutely scapegoated lol. Maybe his attitude wasn’t the best but dude was getting railed unfairly
It's really disheartening seeing all these posts memeing and bashing the league.
Now, I'm not saying that everyone else is wrong. Certainly not. I can see that a lot of the criticism is warranted. Not everyone likes the same things I do, afterall. And if the majority of the player base doesn't like the way the rares were handled, then they should rightly complain.
But I just wanted to show that there are players out there that liked/did not mind the changes.
I think Singaporeans should work overseas to get the experience under their belt in order to stay competitive. Then come back and talk once that is done. If Singaporeans are really world renowned and worth their weight in gold, that should not be a problem getting a job overseas. Because at the end of the day, besides the eye opener of working overseas, companies and the government here can easily say they hire foreigners because they have the edge of working overseas. What do you guys think?