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/crisis/ General Comrade 08/05/2019 (Mon) 07:43:55 No. 8552
DOW/Market Watch Thread
monitoring the market, trends, fluctuations, etc.
HOLY SHIT guys check this out The thing on the left is called a Fibonacci retracement, which basically uses the Golden Ratio to provide points of pivoting in markets. Someone posted about the Elliott wave principle which is related, and you can read about it more here: https://www.investopedia.com/terms/f/fibonacciretracement.asp In this picture I drew one of these using the high and low of the previous shake-up, and considering recent events, including the accelerated bubbling of stocks like Tesla, Apple, various financials, as well as the markets in general, it seems that the markets will turn once the S&P reaches about 330.83 (as indicated by the 1.618 projection). Considering the Fed is thinking about stopping repurchase operations, I think this'll be the point where it all pivots downwards. After that it might rebound to some other point on the Fibonacci retracement, like 0.786 or something. If you aren't into investing yet then consider making some short positions once it reaches that level, at least for the long term if you have some resignations about doing it now.
>>214619 >de-pegging what did they mean by this?
>>215354 This is why I come here. Blessed post.
>>215354 >Nice goalpost shift. From "inflation didn't exist at all" to "trend inflation didn't exist". Don't think it's goalpost shifting for me to go from an extremely short post to a longer one with more detail. >Anyway, blaming "fiat" is an absolutely retarded take and you would be better served in a 2012 /pol/ Ron Paul thread than here. All money (in sufficiently developed economies) is created by fiat, MMT BEGONE! This is a Marxist thread, commodity money is a dialectical result of exchange and contains ASNLT value in it. Commodity money objectively, historically emerged in many places around the world WITHOUT governments creating it. READ MARX. >because money is created through debt and loans. Money emerges from the needs of exchange. MMT is a fiction. Watch Shaikh's video, you will get BTFO: https://www.youtube.com/watch?v=rPMoESXe4x8&list=PLB1uqxcCESK6B1juh_wnKoxftZCcqA1go&index=28&t=0s >etc etc see above >1. Full employment and a strong labor movement created wage-driven inflation lmao there was never full employment in capitalism You are a joke. Read Marx, read Shaikh.
>>215488 Woman removing dildo from man's anus?
>>215673 MMT is empirical observation. It's a description of how "money creation" actually happens in reality. I'm sorry if you're too dogmatically attached to 19th century theory to realize it.
>>215673 >Muh reed marks
>>215960 Saying "it's old so it's obviously no longer applicable" isn't an argument. Economics isn't an unmoving scientific consensus,not even today anyway.
>>215960 >MMT is empirical observation. Really? So what does the theory predict? Oh... it just predicts that the gubbamint can print money as much as it wants, but at the same time, can't. Real insightful. Again, watch this video: https://www.youtube.com/watch?v=rPMoESXe4x8&list=PLB1uqxcCESK6B1juh_wnKoxftZCcqA1go&index=28&t=0s MMT goes against the LTV and Marxist political economy in every way imaginable.
>>216034 >Saved This needs to be mercilessly posted until all the dumb anons that do this are bullied off the board.
<US Freight Shipments Plunge at Fastest Rate since 2009, Hit 2011 Level: This is Getting Surprisingly Ugly https://wolfstreet.com/2020/01/15/us-freight-shipments-plunge-at-fastest-rate-since-2009-hit-2011-level/ >Shipment volume in the US by truck, rail, air, and barge plunged 7.9% in December 2019 compared to a year earlier, according to the Cass Freight Index for Shipments. It was the 13th month in a row of year-over-year declines, and the steepest year-over-year decline since November 2009, during the Financial Crisis: >The Cass Freight Index tracks shipment volume of consumer goods and industrial products and supplies by all modes of transportation, but it does not track bulk commodities, such as grains. As always when things get ugly, the calendar gets blamed – Christmas fell on a Wednesday, as it does regularly.
>>215673 >Commodity money is the dialectical result of… Do we have commodity money?
>>216428 All money is a Commodity. Money the universal equivalent exchange of all other Commodites
LAST CALL TO MAKE SHORT POSITIONS. DO NOT MISS OUT.
>>216455 What's the labor time going into the production of 1000 dollars? Is this proportional to what goes into what 1000 dollars exchanges for?
>>216571 Short positions on what?
>>216428 >>216611 Just as money was backed by gold in the past, it is backed by oil now. US dollars are the world reserve currency and the US dollar has been backed by oil ever since the 1970s (due to the Nixon administrations' deal with the Saudis).
>>216611 The labor time going into the production of 1000 dollars is the labor time going into the production of 1000 dollars; It's how long it takes to make 1000 dollars. You are confusing exchange and use value.
>>216622 SPY or any other inflated stock (AAPL for example)
>>216034 >>216276 it should be abundantly fucking obvious that I am saying you need to read Capital, which is a pre-req for serious posting ITT.
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>>216666 Wasted quads, probably set them up too
>>216428 No, fiat is not commodity money as the value it represents for exchange is not the same as the actual value put into it during production. >>216455 Fiat is not a commodity, it is a license to a fraction of the total circulation social product. >>216631 >Just as money was backed by gold in the past, it is backed by oil now. The petrodollar does NOT make burger fiat commodity money, it just forces other countries to hold USD in order to buy oil. There is not a fractional reserve system for oil vs dollars. And USD is obviously NOT the only fiat in the world, so you would have to explain how the Euro, Ruble, Yen, RMB, etc are all commodity money. So let me repeat myself. READ MARX, READ CAPITAL. There is no way you would be conflating fiat and commodity money if you understood the literal CHAPTERS Marx writes about gold, metal, and commodity money.
>>216682 Yea well if you know Capital so well, you won't have any problems summarizing the necessary bits here, would you?
>>216686 I already have summarized it you twat, and I gave links to Anwar Shaikh's video debunking MMT, as well as Michael Roberts' blogs on the topic. And I have directed you to the correct source on the topic, Capital (volume 1 specifically, where you obviously need to start). The absolute lazy brainletism ITT right now is baffling. Are you all from /r/socialism or something? I have not seen this amount of stupidity and willful ignorance here before. Do your fucking homework.
>Dow approaching 30K
>>217783 Imagine when the DOW reaches 40K. I don’t understand the commies here who refuse to open an account at Wealthsimple and take advantage of the bull run. Otherwise you want to live in poverty while you wait all your life for a revolution that never comes. I wonder, if I return here in 20 years, will most of you have already moved on or will you be 40 something old losers in service sector jobs still “waiting for the revolution”?
>>216271 MMT could be done by the USA, as it’s the world’s reserve currency.
listen to michael hudson you fucks
>>218085 Imagine using your extra money to get more money in the stock market instead of giving it to your favorite middle eastern militia group so they can buy 1/10 of a mortar round Dont you dare call yourself a leftist
>>215475 It will probably hit 330 by Monday. Anon, tell us. what does it mean?
>>218115 “REEEE Why won’t you piss away your money on right wing terrorist militias in the Middle East or left wing Larp groups” “How dare you actually invest money for retirement instead of pushing it away on LARPING”.
>>218159 *pissing it away on LARPING
>>218159 >lol stop supporting your cause man like bro stop caring
>>218115 I can’t wait to actually afford a car and house. Better investments then pissingit away on autistic communist/Anarkiddie LARP groups in the Middle East or Latin America that will be drone striked into oblivion. Besides, why shouldn’t I improve my life? Why shouldn’t I buy a car, a home, invest for retirement, find a boyfriend?
>>218163 “Supporting your cause”? With your minimum wage shit job while you REEE at the DOW and at people investing for retirement? Your “cause” is a lost cause. I wouldn’t be surprised if your autistic enough to believe that anyone who even invests $100 a month for their Wealthsimple account is “bourgeois”.
>>218164 >Porkyanon is a girl Cute cute cute!!!
Also, I’m getting 8.9% returns right now. Not bad, but if this bull run continues, I’ll be able to buy a house AND retire.
>>218168 I’m a gay Swiss Canadian Man.
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>>218167 Anon I'm a film student.
>>218170 based
>>218172 Even if I was able to legislate codetermination, rent controls,living wage, abolition of private medical insurance and private prisons, along with pro climate change legislation, you’d still try to shoot me.
>>218176 And I’m a Political Economy student.
>>218089 MMT is a theory, it can't be "done" by the USA. The USA CAN print more money than most other countries can and benefit somewhat, but at the end of the day it still has limits and is just a temporary pump that has a nearly equivalent backlash. MMT has nothing to do with this capability, and in fact, the Marxist understanding of fiat explains it much better. Marxist political economy explains that "moderate" inflation can actually be desirable to the bourgeoisie as, among other things, a form of class warfare. While the inflation erodes wages, the new bills are disproportionately distributed to banks and big businesses, effectively redistributing the existing value in the economy to the bourgeoisie. With the petrodollar and the USD as a world reserve currency, the USA can enjoy the same kind of benefit on a world scale.
>>218090 that guy is a joke
There is no contradiction between Marx and MMT. MMT explains currency acceptance and Marx explains currency value. This is the best beginner article on the synthesis: http://heteconomist.com/currency-acceptance-currency-value-and-transcending-capitalism/ Also, this article is good: http://heteconomist.com/currency-value-in-terms-of-socially-necessary-labor/
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Could anybody throw out the capitalist bootlickers and salty commie LARPers? They are adding nothing of meaning to this thread. I'll repeat again for brainlets: Communists. Are. Not. Reverse /biz/ people. We don't become all pink wojaks, because the stock markets are green right now. Quite the contrary, when you consider the reasons, why it's going up right now. We are happy to see that the Mother of all Bubbles is getting even bigger than we hoped it would. It will make our cause just easier to realise, when in finally pops. So please stop coping, because we don't get all salty about "muh stonks 29'00000000". Also, you cannot "retire" with climate change, you idiots! It's socialism or extinction! Ergo if we fail, everybody loses.
>>218170 Bro, you said gay thrice.
>>218723 I am a serious theoryposter ITT but I don't mind the wojakposts, they are funny and probably attract people to read the serious posts.

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