• 0 Posts
  • 14 Comments
Joined 2 months ago
cake
Cake day: May 27th, 2026

help-circle
  • The working class saw this coming decades ago, only to be mocked and told to retrain by the same credentialized individuals who’re now crying about AI. Yesterday’s push to offshore jobs and today’s rush toward digital automation are simply different phases of the exact same economic displacement. It cannot be stopped with legislation in a globalized world where capital flows freely.








  • Aneorthisio@lemmy.mltoFuck AI@lemmy.worldIt's a "business model"
    link
    fedilink
    arrow-up
    7
    arrow-down
    3
    ·
    1 month ago

    When you zoom out and look at the bigger picture, this is just the latest instance of ever expanding credit being converted into assets, just like housing, and reflected in everything down to groceries.

    The structural problem lies in the very fact that we have, since 1971 and the end of the Bretton Woods system, fiat currencies backed by nothing tangible or physical, allowing for limitless expansion and by extension inevitable devaluation.

    That money has to go somewhere to avoid being eaten by the very inflation it created, holding onto a resource that can be infinitely replicated, like currency in our present system, is a guaranteed loss.

    The goal of fiat fueled VC bubbles is never to generate immediate, honest profits from selling a product to consumers, the goal is asset inflation and capital preservation.

    The system is not broken, it is in fact working exactly as intended.




  • Aneorthisio@lemmy.mltoPrivacy@programming.devVisa Could Ruin the Internet
    link
    fedilink
    arrow-up
    8
    arrow-down
    3
    ·
    edit-2
    2 months ago

    Remember that there exist alternatives to the big three US payment processors.

    China’s UnionPay is pretty much global now, one can open a bank account remotely in Hong Kong or Singapore and go through UnionPay.

    Russia’s Mir is the answer to the current geopolitical situation and the country being cut off from SWIFT, they are backed by UnionPay and are accepted all over Asia, Africa and increasingly in Latin America, many local banks in these parts will give you a card with Mir if you request it.

    India’s UPI is also gaining traction in the subcontinent, in Europe Wero is rolling out as an answer to US dependency.

    You don’t have to be a prisoner to the three American processors, even in the US and Canada, UnionPay is gaining traction as a result of the demand from the Chinese diaspora and business owners.

    Competition is good for business.

    Edit : typo car -> card