China’s new rules for finance pull the brakes on gravy train, bringing ‘greed is good’ era to a halt
China’s new rules for finance pull the brakes on gravy train, bringing ‘greed is good’ era to a halt
China’s finance sector was once freewheeling, but new regulations and mandates from officials suggest banks’ new role looks beyond simple profit-seeking.
Now that it has been discovered that stocks don't always go up, China now is going to bring its financial sector under full government control.
The CPC is a Marxist polity, so it’s no surprise to them: https://en.wikipedia.org/wiki/Business_cycle
Periodic crises in capitalism formed the basis of the theory of Karl Marx
Overlegislation of the financial sector will lead to financial collapse. An upper crust of obscenely wealthy bankers is essential for the proper function of the financial system and thus the economy.
Edit: /s fuck y'all are ruthless
You forgot the
/s, here, take this one.Everyone's sarcasm detector is turned off today it seems
There are American citizens that legitimately believe you unlock a multimillion dollar bank account if you write a note at 45° in red marker on your bills. We need the /s because someone is always stupid enough to actually believe everything it seems.
💀
Underlegislation leads to a bloated, extortionate upper crust that weilds disproportionate power over those who rely on said financial system. There is a balance, and the problem you outline is the lesser of the two extremes.
🤡
Don't forget the infinite growing debt glitch
Oh thank China for this headline, finally, I have been waiting for it for years.