It’s a useless metric for the state of the stock market. It’s used because it has been around forever and people hate change.

Why is it useless? It is calculated by tracking 30 companies on the stock market and pretty much adding up their current stock price. This is a meaningless metric because you could have one company that is worth $100 that offers two shares of stock, each worth $50. Another company worth $100 chooses to have 50 shares of stock each worth $2.

The companies are the same value, but their stock price is vastly different. Let’s say they’re both on the DOW list of 30 companies. When the first company doubles in value, so does it’s stock price. Now the company is with $200 and the stock is worth $100. That means the dow increased by 50.

When the second company doubles in value, it’s stock also doubles to $4. Now the DOW increases by a value of 2…

This is why the DOW is useless. It’s intent is to measure the general trend of the stock market, but with the two examples above it clearly fails at doing that. There are many better stock market indexes that provide a more reliable insight intoarket trends, the S&P 500 for example. The DOW is meaningless and anyone who is using it as a reference for the health of the stock market is an idiot.

Anyone using it to talk about the health of the economy overall is out of their gord and should be in the loony bin.

Oh sweet summer child, he will have no personal debt on failure, only personal profit on success.

“If we can just make an AI that can overthrow humanity it won’t matter how much cash we burn!”

Anyone else have this unsettling feeling we are in the hibernation period of “If Anyone Builds it, Everyone Dies”? The post containment breach but pre openly operating phase. Is there some force pushing more resources towards AI than is rational? Is this bubble human greed and stupidity, or is there something else at play?

Thank you for the insight and write up.

On a completely unrelated note, this type of online conversation is what makes me most pessimistic about LLMs. I’m fairly certain Chozo is a human, but as time goes on it will become much more likely companies will have bots crawling all social media looking for conversations like this as a standard part of their PR team. It will make it impossible to discern truth from hallucination and ultimately just erode trust in everything. It’s such a bleak future.

The operation was carried out by Mexico. US supplied intelligence, assumed location information. Characterizing this as the US murdering someone outside it’s borders is disingenuous and really just a false statement.

I heard they’re flammable, we could just torch 'em.

This is true, but it actually wouldn’t really address this problem at all.

The issue here is production vs consumption is out of whack. Taking money from billionaires and pumping it into the consumption side doesn’t fix the imbalance. There would still be the same amount of production and the consumers would now have more money to buy the same amount of things, so the prices of stuff would just go up (or the value of money would go down, depends on how you want to look at it). So you would just create inflation with the type of wealth transfer you implied.

The trick is to take the billionaires money and put it to use producing things, not consuming things. There are tons of ways to do this such as investing in education, small business loans, scientific grants, and big infrastructure projects.

Another solution is to increase immigration to make up the production imbalance. Good luck getting that through todays political climate, but most economists would agree it would help alleviate the problem OP referenced.

This was a fantastic ELI5. Thank you for your effort in writing this up.

Precisely. The original post shows there could still be labor willing to do the work, but it does does not address how that work would be funded. Even if the labor was free there are resources required to build and maintain that plant that are not free. Where do those resources come from?

Shorts are unintended low impedance paths.

it’s just an incredibly tiny amount

Indicates you are not describing a short.

Sure, there is technically current flowing, but it is small enough to be considered an open circuit for engineering purposes. There is leakage current for every insulator, we don’t call it a short.

I think of it as outsourced intuition. It provides a first gut feeling response to the question based on what the Internet would say. That can be useful if you need a starting point. It very rarely should be an ending point.

Capitalism is a zero sum game, for one to gain wealth it must be extracted from another

This is just not true. There are plenty of valid criticisms of capitalism, there’s no need to use false statements.

Test successful.

In addition, the generation of knowledge is inherently a progressive trait. It acknowledges that we don’t have all the answers but with effort we can find them and that we will need to change our world view to accept them.

Conservatism is the resistance to change, putting value in tradition over novel ways of thinking. It is antithetical to knowledge generation.

This means institutions that are designed to generate knowledge will not foster conservative ideals.

You are correct! Thank you for sharing.

Remember when that picture of a cop pepper spraying peacefully sitting protesters made news headlines and got people fired? Those were the days…

The whole sequence is great, but this one is stunning.

Now this is the kind of content generation I was hoping to find when I came to Lemmy!

The lowest donation in that tier is 240k, they could and are probably giving more.

The US’s position of economic strength is so fragile too. Most of it is in the financial and technology sectors, both of which can be moved relatively easily because their value is in non-tangible things. China’s economic power is in manufacturing - being able to build tangible things. Factories are much more stable.