Ugh, pure investment banker propaganda.
this post was submitted on 01 Aug 2024
1 points (51.9% liked)
Europe
1559 readers
289 users here now
News and information from Europe 🇪🇺
(Current banner: La Mancha, Spain. Feel free to post submissions for banner images.)
Rules (2024-08-30)
- This is an English-language community. Comments should be in English. Posts can link to non-English news sources when providing a full-text translation in the post description. Automated translations are fine, as long as they don't overly distort the content.
- No links to misinformation or commercial advertising. When you post outdated/historic articles, add the year of publication to the post title. Infographics must include a source and a year of creation; if possible, also provide a link to the source.
- Be kind to each other, and argue in good faith. Don't post direct insults nor disrespectful and condescending comments. Don't troll nor incite hatred. Don't look for novel argumentation strategies at Wikipedia's List of fallacies.
- No bigotry, sexism, racism, antisemitism, dehumanization of minorities, or glorification of National Socialism.
- Be the signal, not the noise: Strive to post insightful comments. Add "/s" when you're being sarcastic (and don't use it to break rule no. 3).
- If you link to paywalled information, please provide also a link to a freely available archived version. Alternatively, try to find a different source.
- Light-hearted content, memes, and posts about your European everyday belong in !yurop@lemm.ee. (They're cool, you should subscribe there too!)
- Don't evade bans. If we notice ban evasion, that will result in a permanent ban for all the accounts we can associate with you.
- No posts linking to speculative reporting about ongoing events with unclear backgrounds. Please wait at least 12 hours. (E.g., do not post breathless reporting on an ongoing terror attack.)
(This list may get expanded when necessary.)
We will use some leeway to decide whether to remove a comment.
If need be, there are also bans: 3 days for lighter offenses, 14 days for bigger offenses, and permanent bans for people who don't show any willingness to participate productively. If we think the ban reason is obvious, we may not specifically write to you.
If you want to protest a removal or ban, feel free to write privately to the mods: @federalreverse@feddit.org, @poVoq@slrpnk.net, or @anzo@programming.dev.
founded 5 months ago
MODERATORS
Exactly my reaction
If everybody hates it, why does it only have upvotes?
Because we don't vote based on agreement but on "people should or shouldn't see this."
It also has downvotes. And as @avidamoeba@lemmy.ca says, this isn’t Reddit. Up- and down-votes are not a popularity contest.
Now it does. When I came, it stood at 8 upvotes.
And while I expressed myself badly, the reason I downvoted is: I think it's largely a bad take and I suspect there must be a more reasonable take on the finance union available somewhere.
I don't entirely disagree, and you may be right about the financial union. I've also downvoted this post because I think it's a waste of space that no one should waste time on -- unless they need even more convincing that Axel Springer is garbage. I was originally surprised at such a biased piece from Politico, largely because I forgot that they were sold out to Axel Springer.
What else should you expect from an Axel Springer medium.
Editorializing alone was enough to put me off this article. Finding that it’s essentially a scolding to be more like American-style laissez-faire capitalists, who’ve managed to eliminate workers’ rights and pensions so that most have no choice except to gamble on the stock market for retirement income, was nauseating.
"We want to gamble with people's savings and retirement funds"
Fuck off. Fuck all the way off. Then fuck off some more.
If you want someone to invest into high-risk ventures, have the ultra-rich do it. They can afford it. Or the institutions which literally exist for this purpose: banks.
The "problem" is that these banks hold most of the savings and retirement funds and when they were found to use them for excessive gambling after the 2008 financial crisis, the regulators put some limits on that.
On the other hand, the ultra-rich massively benefitted from their stock investments in the last couple of years. While institutional investors largely lost because of the regulations in place. So if you believe stock markets are a good way to manage investments, then regulating them in a way that only the ultra rich can benefit from them is probably a bad idea.
But IMHO the entire idea of using a casino (where trading values are largely divorced from the real value creation of the companies traded) as the primary means to steer investments is bad.
Don't listen to Axel Springer propaganda. They lie and distord facts. They want to make you angry.
Can we stop posting that Axel Springer garbage here?
Go right ahead. Looking forward to seeing you contribute here.
I mean you being condescending isn’t exactly contributing to the culture here and maybe it’s contributing more to not post low quality content than posting just for the sake of it.
First you whine about the link I posted, and now you whine about me asking you to contribute better links if you're not happy with what I post.
You were saying about contributing to the culture here?
I contribute links I find interesting and if that bothers you so much you can just block me. I'm alright with that.
I suggest starting with the Wikipedia Article on Axel Springer to understand what’s wrong with them. If you already know and you don’t care that explains a lot, but judging from the votes and the comments, most other people also don’t find your article interesting. That together with your style of communication are really not contributing a lot here. Posting ≠ contributing.
You still around? I thought you were going to block me so that you didn't risk seeing content you didn't like.
https://mediabiasfactcheck.com/politico-europe-bias/
I'm still waiting for you to contribute something other than whining. Whining isn't contributing.
The author's idea is that we could match the impact of the US IRA and Chinese government investments using the (more or less) voluntarily-provided private savings of EU citizens? That does not sound particularly realistic.
I fail how investing in "the stock market" should be more stimulating than banks handing out loans to businesses, which they do with the money people have "saved" in their accounts.
If they talk about people buying companies when they launch into the stock market, or buying bonds issued by companies, these are precisely the markets were normal end customers should not interact. The information imbalance and risk there is much greater than with established stocks. But me buying a share of one company from another person or institution does give the company exactly zero money.
For companies to raise money at the markets only handing out new stocks or selling bonds are direct options afaik.