extended disagree ama fed is probably the only thing preventing a complete social collapse rn
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Replying to @eigenrobot @sonyasupposedly
probably true given entire economy now depends on continued operation of the Arcane Finance Machines, but unsure if fed really deserves credit given (IIUC) they're largely responsible for creating this dependency in the first place (?)
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this would cause a collapse if unchecked in any but the financially simplest economy
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Replying to @eigenrobot @sonyasupposedly
hmm what forms the necessary dependency between productive companies and Arcane Finance Machines? can't a company just not leverage to a fare-thee-well, and thus not have to care how the banks are doing?
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Replying to @ded_ruckus @sonyasupposedly
basically finance of some variety is required for large capital investments
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Replying to @eigenrobot @sonyasupposedly
sure, but, like you don't need to be so tightly entwined that you're dependent on getting loans to make payroll finance your big investments, keep cash enough for your immediate needs
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I have bad news about the government and 90% of americans
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