Fracketeering: Life in a capitalist sci-fi horror story


#1

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#2

I’m just wondering: Where does this end? At what point do they go “We’ve squeezed as much as we can from this stone”?


#3

Very well written, though vomiting in anger obvious. It is like trying to live in a mafia dominated town where the strong farm the weak for free money just for living their lives, it is rewiring the economy to provide a massive welfare stream to those wealthy enough to buy the laws and judges and take it away from the general welfare.
(edit)The bit about futures markets among others really pisses me off, the massive scale of the speculation investors vs the businesses hedging the price of diesel or jet fuel to keep long term budgeting reasonable , the maker class(vs the rent seeking taker class) ends up getting screwed by the manipulation and it actually makes the economy work less well.


#4

…that’s what the futures are for. It’s one of the few actually useful financial instruments.

We the little people of course have precious little chance to talk into the price of stuff, and I doubt the futures approach would work with your gas pump or the grocer. Which is unfair.


#5

The broker fees for those low value trades, which the big players do not pay, really do screw people out of the ability to insure their food and other consumable costs against the market fluctuations they are designed to pad.
Remember kids, brokers do not make their bonus by selling you a great value performer stock, they afford their coke and casinos by getting you to buy and sell, as much as possible, volume is where they win.


#6

Could we form some sort of a co-op to spread out those fees?

Edit: Perhaps something like a limited corporation, with every member having one nontransferable share? If you cannot beat them, join them? Would require quite some law-hacking on the lawyer side but maybe it could be possible.


#7

I believe this is how the farmers buy their crop insurance, but anyone could do it. Just that the unexpected spikes are actually rare enough that it would likely still end up in the red despite pooling.
(edit)I remember an answer back from business school, “only unexpected inflation or market movement results in wealth transfer”(wait, what about effing rent seeking!?) expected linear movement should already be priced into the market so hedging would just incur additional fees especially with a small pool.


#8

It doesn’t. At least not until everyone is dead or the people revolt. Revolution usually just sees the cycle repeating eventually though.


#9

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