Likewise, if not for Hexbear I would living in a bubble of people roughly my own age and completely cut off from younger people, who (especially but exclusively comrades here) are very cool and good. I despise when older people hate "the youth" and have promised myself I will never become like that.
And on top of that, they can always write down the value further due to “impairment” like obsolescence. For example, maybe a specific missile costs $1 million and it is straight-line depreciated for 5 years. After 3 years the book value is $400k. However, they can just say “we have a new missile that’s better so this old missile is obsolete, the value should only be $100k” then they can write down the book value even further.
Also, if they use FIFO inventory accounting, only the oldest stuff on record is used EVEN IF IT ISN’T physically the oldest stock. So if the costs of the equipment get more expensive every year then what’s counted as being given to Ukraine has the lowest value, even if in real terms they are giving them the newest stock.
8.9k upvotes. If there was ever a comment that convinced me Reddit is astroturfed / an op, this is it. Because they are objectively wrong. Or at least intentionally misleading.
They’re focusing on the fact that the valuation equipment changed and ignoring what that actually means. Sure, by itself it doesn’t affect US taxpayers. But the point is, the military says they overvalued it by $2, so that allows them to send $2 billion more worth of equipment. That’s additional stocks of weapons that ostensibly have to be replaced, which is paid for by tax dollars.
And while it’s not provably corrupt, it strains credulity to think this was not done in order to ship more weapons. Revaluations of this kind are much much more likely because someone wants it revalued, i.e. corruption.
I don’t remember why it took me a like a week to sign up. I kept checking the lifeboat discord for news. I think I missed it by a couple days. I made an account but didn’t like the name so I came up with this one.
This was Obama’s slogan, because he would always call out issues but then act like he was powerless to do anything.
Biden’s strategy is to act like problems don’t exist and actually it’s the people who are wrong, the economy is doing great. To say otherwise is to imply you actually support Trump.
It’s honestly impressive how well Marx understands accounting. People who aren’t involved in accounting may not think it’s important but accounting is how you can understand how money flows within and without a capitalist enterprise. The whole idea about how fixed capital adds value proportional to its “wear and tear” is essentially the same thing as how we calculate depreciation on equipment. Cost accounting is how costs are allocated to things that don’t directly incur a cost that can be measured per item produced, and Marx uses that conceptually throughout Vol 1 & 2.
Absolutely. Maybe I can just scan them to text and share, might be a bit disorganized since I just did it free form to help my knowledge but if it’s helpful I can share them.
I haven’t been involved in Vol 1 since it had been a while but I wanted to follow along still. But, I just finished Vol 2 so I really want to get involved there. I missed ch 1-4 but here I am.
Ch 6 is an absolute beast. It’s confusing and Marx isn’t clear in a number of areas. Even David Harvey I think got some conclusions wrong (no fault of his own, he’s never worked in accounting in a manufacturing setting like I have so it’s understandable).
That said, I think it might be one of the most important if not the most important chapter in the book, certainly in its relevance for modern capitalism. The idea that value is created only in the production sphere is ground breaking and the implications for an economy that has hollowed out its own productive capacity (like the US has) are profound.
Ch 6 is a struggle. I read it through and was really confused, so I sat down and took like 20 pages of notes (I write big though) and committed to not moving on until I finally grasped it. It was a ton of work but I’m at the point now where I think I get it.
If you’re struggling to understand what kinds of cost add value and which do not, I found that thinking about modern production is only going to confuse you. Instead, think about a grain farmer. For a grain farmer, storage adds value because grain, by its very nature, MUST be stored. Otherwise you can’t just have everyone eat grain for a month and starve the remaining 11 months. Likewise transportation costs must be productive because farms are far away from cities.
I highly recommend checking out Ian Gough’s paper Marx’s Theory of Productive and Unproductive Labour in conjunction with chapter 6. I’ll try and summarize my notes as best I can but probably easier if I try and answer questions as they come along.
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