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The stock market is edging toward extremes of Great Depression and dot-com eras
(markets.businessinsider.com)
this post was submitted on 17 Nov 2023
249 points (93.4% liked)
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I would be really worried about that if I were in the investor class. Then again, I wouldn't like myself very much, so I'm glad I'm not.
They're never worried. An economic downturn is just an opportunity to them.
And what's the worst that can happen to them? "Oh no, instead of having 2 villas I will only be left with 1?"
Chances are they already can choose to not work for the rest of their lives. They will never get into a worse position than the average worker already is in.
What op meant by the downturn being an opportunity is that their cash reserves get used to buy up whatever depressed item exists. Land, buildings, etc.
They aren’t weathering the storm like most, they are buying all the abandoned boats.
I know, I was furthering the point. Even if they "lose", they don't lose.
Gotcha. They’ll have three villas though.
If there are two classes which are top priority for "rescuing" with public money, is Financiers and Wealthy Investors.
It's the small fry that needs to worry, as invariably they're the ones left holding the bag whenever a way overstreched Economy and associated La-la-Land of Rainbows & Ponies Stockmarket finally get pulled back by the reality that there is nowhere near enough real value in total to justifiy the total value implied by all those sky-high asset prices.
So many people's retirements are in the stock market. This would screw over a ton of the working class too.
It did to me, because I have a locked-in pension from a former union job and after I quit I transferred it to my bank ... who proceeded to tell me I had no choice but to put it into stocks. As of rn it's finally back up to what I had in 2008.
I fucking hate the stock market.