The stock market has been decoupled from the real economy for years. There are interests who want all of us to make sacrifices when the stock market goes down, but I don’t agree with them.
Yeah they are always warning about the stock market and what we need to do to make it go up but most people don’t even own stock. Maybe in their 401k if they have one. Other than that the average person probably doesn’t care. I hardly even look at my 401k either. Let it tank I don’t care. I’ll probably work until I die anyways.
Would Biden break an Occupy like Obama did?
Honestly, these researchers could have saved themselves some work and simply looked at the current income disparity to come to the same conclusion …
The crash is very much a part of the cycle. The rich siphon every single dollar they can during boom times, then increase their market share by buying out smaller, struggling competitors during crashes. And they use taxpayer money to fund their acquisitions.
The class war is over. We lost a long time ago.
It’s not over as long as the working class exists. Capital owners have addresses.
Last I checked, billionaires are still made of soft, fragile meat.
Have you not seen Elysium? There’s a reason Bezos and Musk have been running space programs as a hobby.
I have learned over the past 15 years that online liberal grumblers will find any excuse imaginable to avoid actually doing anything to defend themselves.
I’ve lived through a whole dark age and three supposed end of days with the stock market.
I was working with Lehman Brothers when they went bankrupt.
Watching the collapse of a major investment bank from the inside is an interesting experience.
Still have one of their plexiglass desk cubes listing “Our values”, which always brings an ironic smile to my face whenever I see it.
It didn’t really collapse. Your CEO walked out the door with over 600 million dollars for a single year of work.
Both things can be true at the same time.
Also we wasn’t “my” CEO as I was a freelancer working with them, not an employee, and even if I had been the latter it would still not have been “my” CEO because Lehman wasn’t some kind of cooperative were workers got to chose upper management.
No they can’t both be true. Companies that collapse do not have literal billions to give away. Corporate bankruptcy is not the same as personal bankruptcy. Personal bankruptcy you are going to spend the next 8 years eating ramen. Corporate bankruptcy is more like “I don’t think I should have to work anymore but should still have money”.
That’s how it should be, not how it is.
Most institutions that go bankrupt have lots of assets, it’s just that they have even more debts, and debt has various levels of seniority with the most senior debt payed first from whatever assets the company has, then if any assets are left the next more senior debt paid from them and so on until there are no more assets, and whomever was holding the more junior debt gets nothing (and stockholders are even more junior than any debt, so they usally get nothing).
There are tons of ways to take advantage of such a system (this being the fishy part) some of which are legal (so, even more fishy), and this being a large financial institution (who generally specialize in exactly playing the money game, including tax evasion, avoidance and all sorts of shennenigans) I’m almost sure the compensation for the CEO was made to be senior enough in the debt heirarchy that it ended up high enough that there was still money left from the sale of the company’s assets after covering any debt that was even senior to it, to pay for it.
The Finance Industry is a complete total swamp, a politically endorsed swamp even, which is partly why I’m not working in the Industry anymore.
I pulled an old free frisbee out of a box of toys my mom had saved to find it was WaMu branded. Had a little chuckle at the free plastic frisbee outliving them.
Is that the one where the values were on the other side of a Venn diagram without anything in the overlap?
Bunch of text with even a Mission Statement on one side of the cube.
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair.”
- A Tale of Two Cities
I prefer A Sale of Two Titties
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.
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.
This is by design. Retirements are more and more tied with risky markets because then the rich can hold everyone else hostage since it’s not just them feeling the pain of a market crash. The insanity has to stop at some point or we’re all going to be held hostage forever. Regardless, the amount that most individuals actually have is little and often isn’t enough to actually retire on anyway.
What’s the out that doesn’t see you screaming backwards thanks to inflation?
Safer investments like bonds used to be the way, but were subdued by near zero interest rates for so long.
So feudalism it is then?
We’ve seen this one before - can we skip past the decades of oppression and bloody revolt, and straight back to worker enfranchisement and something resembling a civilised, free, meritocratic society please?
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.
I mean technically if you have a retirement fund you are probably invested.
Would a crash lower house prices?
Depending on why it crashed, it might in some areas to some extent. It might also motivate a drop in rates which could cause prices to start spiking upwards. The biggest issue with house prices is supply has been constrained since the GFC, there hasn’t been enough housing built to meet demand. Until that changes I wouldn’t expect house prices to ever decline significantly or over a sustained period of time.
this last sugar rush was nuts, I’m still bearish but refuse to play anything. S&P chart looks like a meme stock.
Is it edging before bed or ?
🍿
I fuckin this thumbnail
Edit: going over some old comments of mime, and I have no clue what I was trying to say here.
