Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

Can modern  Capitalism survive henceforth?

Discussions about the economic and financial ramifications of PEAK OIL

Re: Can modern  Capitalism survive henceforth?

Unread postby Newfie » Sat 06 Jun 2020, 21:00:39

Outcast,

My last company had 40,000 people. Management knew how to run a generic company. They were really efficient at a lot of things like HR, IT and such. The bad not a shadow of a clue about what we were doing. My boss said “Here’s some drawings, take a couple of days to look them over and tell me if you would be interested in working on bidding this project, Corporate thinks it’s a good idea.” A half hour later I walked into his office and said “We have no business bidding this work. Corporate have lost their minds.” Boss says, “OK, but the decision has been made, you want to work on it?” Me “Hell yeah, really interesting stuff I know nothing about.” We spent a million dollars and then didn’t even put in a bid.

Really stupid stuff. But it was fun.

Here is another quickie.
Boss “Great news, we are the only bidder.”
Me. “All the sane companies ran away.”
That one is still not running and in litigation.
User avatar
Newfie
Forum Moderator
Forum Moderator
 
Posts: 14831
Joined: Thu 15 Nov 2007, 03:00:00
Location: Between Canada and Carribean

Re: Can modern  Capitalism survive henceforth?

Unread postby shortonoil » Tue 09 Jun 2020, 14:11:35

I don’t even think we have Capitalism anymore,


Capitalism died when the neutral interest rate fell below 2%, and the return on capital went with it. Capitalism is the business of investing time, and money to generate a return greater than the initial investment. That is no longer possible for most businesses. Capitalism has been replaced by speculation which consists mostly of guessing which way central bank money creation is going to flow. There are now very few, if any business dealings that can reward a capitalist.
User avatar
shortonoil
False ETP Prophet
False ETP Prophet
 
Posts: 7076
Joined: Thu 02 Dec 2004, 03:00:00
Location: VA USA

Re: Can modern  Capitalism survive henceforth?

Unread postby GHung » Tue 09 Jun 2020, 17:04:59

True Capitalism has been dead for decades. What we have is Financialisationism, AKA: Socialism for the wealthy.

Capitalism doesn't allow too-big-to-fail bailout schemes. It pays its own way or fails.

Capitalism requires true price discovery.

Capitalism abhors things like negative interest rates:
Fed economist pushes for unprecedented rate cut in the United States-
https://www.cnn.com/2020/06/08/investin ... index.html

Capitalism is indifferent as to who wins and who loses. It is a merit-based system.

Capitalism is ultimately self-limiting in that, over time, it will deplete its resource base and create new opportunities via substitution, which in itself is a self-limiting process eventually leading to decline, contraction, or the big reset. These things are essentially unthinkable in our current system of extend=> pretend=> financialise via fiat.
Blessed are the Meek, for they shall inherit nothing but their Souls. - Anonymous Ghung Person
User avatar
GHung
Intermediate Crude
Intermediate Crude
 
Posts: 3084
Joined: Tue 08 Sep 2009, 15:06:11
Location: Moksha, Nearvana

Re: Can modern  Capitalism survive henceforth?

Unread postby Outcast_Searcher » Tue 16 Jun 2020, 02:32:48

Newfie wrote:The bad not a shadow of a clue about what we were doing. My boss said “Here’s some drawings, take a couple of days to look them over and tell me if you would be interested in working on bidding this project, Corporate thinks it’s a good idea.”

A half hour later I walked into his office and said “We have no business bidding this work. Corporate have lost their minds.” Boss says, “OK, but the decision has been made, you want to work on it?”

Really stupid stuff. But it was fun.

Yeah, sounds all too familiar. I get it, 100%.

The thing is, I think companies end up getting what they deserve overall, in time. Kind of like Karma, but Karma can be slow in arriving due to momentum, etc.

The first half of my career I literally did the work of a few people or so, especially when I was really enjoying some crunch project. And that was fine since they gave me big raises often, awards, and let me know they appreciated the work. I loved the financial security and was usually 5 to 10 minutes from work, so all that dovetailed well.

The last few years, things had deteriorated so badly that aside from dealing with constant "emergencies" and endless meetings and paperwork, I hardly did ANYTHING. I was DONE multitasking, etc. due to the way I was treated.

And the saddest thing is, the management by then couldn't even tell the difference. All the really good people had either left or functionally "retired in place" like me by then.

...

I used to wonder in modern times, how much people work vs. say playing games on their phone. But if management can't even tell the difference, does it matter?
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
User avatar
Outcast_Searcher
COB
COB
 
Posts: 8469
Joined: Sat 27 Jun 2009, 20:26:42

Re: Can modern  Capitalism survive henceforth?

Unread postby radon1 » Thu 18 Jun 2020, 18:30:41

Dead already.
radon1
Intermediate Crude
Intermediate Crude
 
Posts: 2048
Joined: Thu 27 Jun 2013, 05:09:44

Previous

Return to Economics & Finance

Who is online

Users browsing this forum: BrianC, JuanP and 25 guests