The era of speedball capitalism

Avicebron

https://archive.ph/Si5XP

650

The intro is great and has been making the rounds online: “ In the past year American markets have digested the largest-ever initial public offering (SpaceX), equity raise by a public company (Google) or a foreign firm (sk Hynix), private-funding round (Openai) and private-debt deal (Broadcom), as well as most of the biggest bond issue in history (Amazon). There was the first $1trn exchange-traded fund, or etf (Vanguard), a record-breaking cash pile (Berkshire Hathaway) and stock-buyback programme (Nvidia), and the consummation of the largest-ever leveraged buyout (Electronic Arts). Then there are the enormous mergers in railways (Union Pacific and Norfolk Southern), utilities (NextEra and Dominion Energy) and media (Paramount and Warner Bros Discovery)—the last of which led, this week, to the largest ever junk-bond offering, beating a record set only last week (SoftBank). New markets have been created out of thin air (for compute) or become much bigger (for predictions). Worries about massive corporate scandals (First Brands) and hedge-fund blow-ups (Situational Awareness), which would have once occupied investors’ attention for months, are steamrollered by the relentless, totalising and extraordinarily flexible machine that is American finance.”

rubiquity

Well, yeah I guess that just about sums it up.

frmersdog

https://www.youtube.com/watch?v=ECmh0M-aHPg Rationalization (bargaining). In other news, Gamestop (yes, that Gamestop) is up almost 50% over the past 2 months, for seemingly no reason. Pokemon cards have a better return YoY than GPUs (and they sell both).

ruined

the speedball begets the gas station holdup

nertzy

How does all this look adjusted for inflation? When inflation is high, numbers go up more than usual. Indeed, that is the thing being inflated. But seriously I’m curious, are these outpacing inflation? Probably, I guess? Gone With The Wind is never going to be matched in the box office but the numbers are bigger now.

MiroslavPokorny

Is this speedball the bitmap bros game ? Never liked it. Seems very simple and repetitive.