#fireeconomy — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #fireeconomy, aggregated by home.social.
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Speaking of economic astrology ...
"... Without doubt, the number 1 thing is to make sure the economy is growing, and that people are feeling it."
#CLuxon, 2025
https://www.rnz.co.nz/podcast/focusonpolitics?share=8ea2a808-b255-4337-88d0-1ab609252fde
As a statement, "the economy is growing" is about as meaningful as 'Jupiter is in retrograde'. After decades of financialisation and the FIRE economy, number-go-up in neoclassical economic measures has no relationship to citizens' standard of living.
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Jane Kelsey was making essentially the same point a decade ago in her 2015 book The FIRE Economy;
https://www.bwb.co.nz/books/the-fire-economy
FIRE here stands for Finance, Insurance and Real Estate. Kelsey argued that the vast majority of economic activity in post-Rogernomics Aotearoa consists of financing purchases people can't really afford, insuring the assets of those lucky enough to have any, and playing a game of Monopoly with the housing stock, and commercial property.