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[-] tburkhol@lemmy.world 0 points 3 months ago

In contrast to the housing bubble, where a lot of the value was in overpriced houses sold to individuals, this overpricing is almost entirely in tech stocks, and tech stocks are almost entirely owned by by the wealthiest 10%, even 1%. The tech billionaires have limited ability to divest themselves of their own overpriced companies and absolutely will lose money.

None of them are going bankrupt, they'll all be just fine when the market recovers in a few years, because that's the nature of capitalism. A bunch of peons, who convinced themselves that the bubble-value of their 401k meant it was safe to retire, will suffer, will have to go back to work - if you're not an oligarch, losing money is painful.

[-] artyom@piefed.social 0 points 3 months ago

What housing bubble are you referring to?

[-] pdxfed@lemmy.world 0 points 3 months ago
[-] artyom@piefed.social 1 points 3 months ago* (last edited 3 months ago)

If you watched that movie, you would know that wasn't a housing bubble, and it had nothing to do with pricing. It had to do with lenders fraudulently selling mortgages to anyone who could fog a glass, knowing full well they wouldn't be able to repay them.

[-] pdxfed@lemmy.world -1 points 3 months ago

The bubble was accelerated by people assuming prices would always rise, often their own greed and flipping or becoming landlords,, and this was only possible due to the financial engineering that made lending to these folks posivle, but all of that droce the value of the underlying assets down significantly.

You claim there wasn't a bubble...look at home price values in the sunbelt in 05 vs 2009.

TF are you talking about there wasn't a bubble

[-] artyom@piefed.social 1 points 3 months ago

this was only possible due to the financial engineering that made lending to these folks posivle

There was no "financial engineering". It was just fraud.

look at home price values in the sunbelt in 05 vs 2009. TF are you talking about there wasn't a bubble

"Bubble" does not mean "prices go up and then back down again".

this post was submitted on 30 Oct 2025
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