270
The stock market is edging toward extremes of Great Depression and dot-com eras
(markets.businessinsider.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 17 Nov 2023
270 points (93.8% liked)
News
36031 readers
1422 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
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.
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?
What do you call what we have now, where the rich keep getting richer and everyone else just rents from them? Obviously inflation doesn't stop feudalism.
Late-stage capitalism bordering on neo-feudalism.
I mean technically if you have a retirement fund you are probably invested.
I do not.