• 6 Posts
  • 301 Comments
Joined 2 years ago
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Cake day: June 20th, 2023

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  • It’s all about financialization. Money people don’t care about product fundamentals anymore, they care about line go up.

    Craft beer looked like a perfect investment because it was already a premium product with social caché (that incidentally was also addictive). But as the above comment notes, there isn’t an endless appetite for overpriced beer, especially when the market is flooded with shitty imitations from mass market beer companies.

    The way to disincentivize it would be to let interest rates skyrocket (financialization only works if the cost of borrowing is effectively zero) but that would hurt regular people first and worst.

    We could also vote in a socialist government who was willing to do things like seize corporate-owned housing and piss on the corpse of companies like Blackrock as their portfolios lose a significant percentage of their value but that seems remarkably unlikely.