Late Stage Capitalism

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‘They couldn’t even scream any more. They were just sobbing’: the amateur investors ruined by the crypto crash (IMO they deserved it and only have themselves to blame) (theguardian.com)

submitted 2 years ago by [email protected] to c/[email protected]

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[–] [email protected] 6 points 2 years ago (1 children)

Not to mention that Marx wrote about Fictitious capital, and how when interest rates(or other essentials) increase, investment into fictitious capital decreases generally. This should not be a big surprise that it doesn’t do well in an awful period of recession/inflation and increasing interest rates.

[–] [email protected] 2 points 2 years ago* (last edited 2 years ago)

It's almost like crypto is only valuable if other people give a shit, whereas actual commodities have inherent value.