Don’t worry, they will recover multiple times that amount when the ship steadies as they’re probably busy acquiring assets at rock bottom prices that they’ve caused by supporting the Trump presidency.
I’m hazarding a guess and would love for someone to fact check this but every time there is a recession I feel the rich get richer and everyone else loses.
Not just recessions, but the pandemic was a huge boon. I guess any crisis that hits the market just right will get milked by these assholes.
But not until they managed to poison the idea of masks, demanded the end of the lockdown so they wouldn’t continue to lose money on commercial real estate, started enshitifying platforms and services, began inflating their products, and participated in shrinkflation.
The wealthy took out their shareholder losses from the COVID lockdown and made it all back by punishing everyone else. Not saying you’re wrong, but they lost a lot before turning every trick they could think of to extract wealth back from the filthy peasants and that $1200 stimulus that didn’t go to them to offset their losses. I mean how many of us got a PPP loan, which didn’t need to be paid back?
This kind of shit is why we can’t have unregulated wealth and so much unlimited money in politics.
You know that thing where chatbots talk to each other and it gets progressively more and more nonsensical and bonkers?
I imagine a scenario kind of like this, but with billionaires telling each other that they’re billionaires and it’s fine to loan money because they have speculative collateral. So billionaires will borrow from billionaires who cover the bill by borrowing from other billionaires who borrow from the first billionaire I mentioned, all because “they’re good for it. Look at how much stock they own.”
Meanwhile they all have functionally nothing in liquid.
Hell yeah. Just filled my Amazon cart with $3000 of good that I’ll never buy just to fuck with their inventory and I’ll schedule a test drive for a Tesla tomorrow that I won’t show up for to celebrate
Everyone ITT is cheering but my retirement account has taken a fucking beating for the same reason. The billionaires aren’t hurt by the stock market falling through the floor, it’s their slaves that are. A year ago I had a chance at retiring a little early. I don’t see that ever happening now.
I’ve no idea? I have no choice in the matter either way. I’m just watching Trump destroy my future and seeing it cheered because it supposedly also hurts billionaires (it doesn’t)
It’s the billionaire business owners. They want you to have a false class solidarity with them given your pittance fraction of the market, while giving their own assets higher valuations.
You’re getting screwed, don’t get me wrong, but there’s a reason why.
This is also a response from a place of powerlessness. You can’t blame people for enjoying the tiniest fraction of schadenfreude when they’re getting constantly fucked by this system.
Unless you are retiring soon, this isn’t particularly important. For anyone still in the grind, this just means buying the dip.
But it sounds like you are retiring soon, and need more stable investments. I wish you luck on that.
I moved my 401k from 100% stocks to 100% cash equivalents 3 weeks ago… the writing on the wall was right there
Now you are invested in dollars instead of stocks, but the writing is on the wall for the dollar as well. Just wait until all our former allies start dumping their dollar reserves.
Trump’s plan to help eliminate the federal debt was to print money
“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.
Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.
Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”
Someone remind me how the Zimbabwe dollar collapsed again?
You’re cashing out your plan? I admittedly don’t understand how these things work but in any case won’t you lose money? The market will recover eventually
Many good people in Ukraine don’t have that problem anymore, because they’re already dead as a result of Trump’s decisions :/
And yes this isn’t the most monstrous thing trump has done. Hanging Ukraine out to dry is unconscionable, but this post was about economics. The thing trump promised to be good about and he was believed. He’s nuking our economy from orbit and no one can help us. It’s as though he wants to hurt everyone “beneath” him.
I’m a European that was heavily invested in British defense stocks. When your boy and his mutt attacked Zelensky in the whitehouse i bought more of them and expanded to Europe as a whole.
Trump throwing the American Economy and Hegemony against the wall has been great for me.
My portfolio has grown 20% since you numptys voted him in.
Great welcome to the club most of us were born into and had zero chance of leaving.
sorry, but i don’t give a flying fuck about your retirement account. your country is literally falling into fascism and you’re worrying about how that’s going to affect your retirement plan?
people are being rounded up and put into camps.
your retirement plan should be to die fighting to stop it.
Way to show that you don’t care about the common person. If you think it would make a billionaire frown, you’d accept your neighbor working their ass off for another decade.
And no, you’re not fucking sorry, you lying excuse for an empath. Fake fucking leftists everywhere…
i care deeply for the common person. if we overthrow the ruling class you can retire whenever you want. until then, no, i don’t care about your retirement fund. you’re extremely lucky to be in this unfortunate position. I am not sorry for telling you this, because you need to read it, but I am truly sorry for causing you to suffer by reading it. sometimes, though, people do need to hear unpleasant truths.
if you really want to fight for your retirement, then join a union and get involved with activism.
What do you invest in? Aren’t you just adding fuel to the slave-driven global suicide machine?
After first having gained $300 billion? Y’all know that the stock pumping started two months earlier than Jan. 20?
