https://x.com/ecb/status/1876192383140077724
And the comments are just as braindead. "ECB printed money so purchasing power is reduced". Completely ignoring the higher profits part and market power or the Russia-Ukraine War.
It is good for them. High unemployment means a labor surplus.
It’s always been about austerity lol. The finance capitalists can finally celebrate on the graves of European industrialists, who remarkably fell hook, line and sinker to the US propaganda that Russia will collapse under sanctions in 6 weeks, just be patient lol. After all, it’s the world’s greatest sanction combining the economic power of the US and the EU - what can go wrong?? How can Russia possibly survive this?
that insidious US propaganda getting those european industrialists to support... checks notes... higher profit margins???
I think they are right that there is some level of capitalist infighting.
Industrial capitalists sure got higher profit margins but also had to deal with increased input costs (particularly the case in Europe due to Russia-Ukraine War and the sanctions); with lower real wages, low Government spending and low exports, the demand is low. So private investments won't increase either. It doesn't help with long term industrial profits.
But finance capitalists can pump up prices of certain financial assets even with nothing real being produced, nothing but moving around virtual entires/numbers. Like how Elon Musk is "worth" over $400b.
Real wages: down
Average labor hours per worker: down
Profit margins: up
Economy: weakIdk, maybe there are some conclusions you could possibly draw from this.
I fucking hate that this is the world I live in.
Actually putting people to work is seen as alien, and I’m constantly being told I’m lazy because I ask for a job and employers tell me no. Really cool that my folks are the only thing stopping from starving on the streets, nice economy you got there.
But off course, my suffering doesn’t matter even though I did everything right. I’m just the collateral damage and I just have to take one for the team and have my whole life ruined.
