schizoidman@lemm.ee to World News@lemmy.worldEnglish · 3 months agoChina's home-price slump deepens to new 9-year low despite stimuluswww.reuters.comexternal-linkmessage-square16fedilinkarrow-up11arrow-down10file-text
arrow-up11arrow-down1external-linkChina's home-price slump deepens to new 9-year low despite stimuluswww.reuters.comschizoidman@lemm.ee to World News@lemmy.worldEnglish · 3 months agomessage-square16fedilinkfile-text
minus-squareI_Has_A_Hat@lemmy.worldlinkfedilinkEnglisharrow-up0·3 months agoI think it’s you who doesn’t get it. In a financial collapse, it’s not the plumbers, electricians, or machinists who will be out of work. It will be the investment bankers, the lawyers, and the middle managers. They need us far more than we need them.
minus-squarefine_sandy_bottom@lemmy.federate.cclinkfedilinkEnglisharrow-up0·3 months agoThats… just not how economies work.
minus-squareI_Has_A_Hat@lemmy.worldlinkfedilinkEnglisharrow-up0·3 months agoYes, but aren’t we talking about a scenario where the economy doesn’t work?
minus-squareI_Has_A_Hat@lemmy.worldlinkfedilinkEnglisharrow-up0·3 months agoI’m pretty sure that’s the definition of a global financial collapse
I think it’s you who doesn’t get it. In a financial collapse, it’s not the plumbers, electricians, or machinists who will be out of work. It will be the investment bankers, the lawyers, and the middle managers.
They need us far more than we need them.
Thats… just not how economies work.
Yes, but aren’t we talking about a scenario where the economy doesn’t work?
No.
I’m pretty sure that’s the definition of a global financial collapse