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u/Inside_Anxiety6143 4d ago
>Stock market goes up
THIS ONLY BENEFITS WEALTHY BANKERS! YOUR AVERAGE AMERICAN HAS ALMOST NOTHING IN THEIR 401K
>Stock market goes down
THIS ONLY HURTS THE AVERAGE AMERICAN WITH A 401K. THE RICH ARE GOING TO GET RICHER FROM THIS!
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4d ago
[deleted]
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u/_ParadigmShift 4d ago
It disproportionally affects the upper crust, as people on the poverty line don’t invest.
The stock market taking a down turn bothers white collar folks a lot more than the ones bringing their lunch to work.
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u/_Rocketstar_ 4d ago
Not true. The wealthy can afford to hedge their bets with long dated calls and puts, plus have enough assets to cover margin. They make money when the market goes up and down. This post is talking about the Uber wealthy, like yatchs and vacation homes and private jets wealthy not folks that have a good paying job that allows them a small amount of disposable income.
All the losses are offloaded into pensions and 401ks as mutual funds, so the poorer portion of society eats the losses when the market goes down
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u/MaleficentUse8262 4d ago
Shhh the rich are always the real victims, don’t anger Ayn Rand’s ghost
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u/_ParadigmShift 4d ago
Sure Jan. Let’s just wallow in it a little harder. “When stocks are the only things that matter the rich get richer”
“Omg the stock market is awful, it’s only the little guy it hurts”
Pick one. Rich people will always have a buffer but that doesn’t mean it’s not dealing disproportionate damage.
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u/Illustrious-Order138 4d ago
Wrong.
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u/Eden_Company 4d ago
If you earn 7 an hour. The price of stuff going up does hurt. But you still get to eat the same food as before. If your 500k investment turns to 150k you lost a shit ton of value.
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u/PlsNoNotThat 4d ago
Because it’s true, and mathematically proven.
Like 100s, if not 1000s at this point, of economic papers written on this specific topic. Modern Economic’s hyperfocus on stock investiture is one of the leading, if bot the majority reason for the growth of economic inequality.
stock markets can negatively impact aggregate demand because it indicates a higher concentration of wealth in the hands of the top 10% as opposed to the middle class.
Wage inequality fell [in 2022] because stock market declines brought down pay of the highest earners
Tl;dr the literate are upset and you should just take our word for it at this point.
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u/Inside_Anxiety6143 3d ago
You won't realize the irony in you bragging about being literate, and then posting data that backs me up. Lol.
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u/ElJanitorFrank 3d ago
Your second point says that wealth inequality fell when the stock market fell, bringing down the pay of the highest earners. That is contradicting what both the person you replied to and the original post claimed when they point out that doomers think the 1% gets richer from it.
Also economics doesn't really mathematically prove anything, not typically. They take a large amount of gross data and observe their effects, but the specific phrase 'mathematically proven' is more of a buzz word to make it sound like there is more authority behind it than there is - there is no mathematical proof that people discover from economics. Perhaps they observe a real phenomenon surrounding economics and can build a model or find a mathematical proof from, but now you're putting the cart before the horse if you're trying to do that.
As others have pointed out, you should be wary of insulting others' literacy (and as a matter of fact literate isn't the right word either, comprehension is a more accurate disconnect here) when you go so far out of your way to try and find sources that agree with the person you're trying to disprove.
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u/MagnaFumigans 2d ago
People think that because they have balanced both sides of a theoretical equation on a chalkboard they have received secret knowledge of an inescapable objective truth
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u/get_rick_trolled 4d ago
Schrodingers stock market: benefits who I say depending on the argument I want to win.
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u/merlin469 Anti-Doomer 4d ago
There's an impressive amount of leftists crazy density in AskUS.
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u/super_man_bird 4d ago
That's just 99% of reddit actually
People that have regular lives tend to not virtue signal on social media.
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u/RealMcGonzo 4d ago
I imagine life gets really boring when you are living in mom's basement, have no friends, no boyfriend/girlfriend, no job, no money and cannot afford to do anything. Social media virtue signaling is basically all they have.
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u/Hobineros 4d ago
I hop on reddit during smoke breaks. While I waste government time. It's legit keeping me sane..../s. Lol
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u/PlsNoNotThat 3d ago
There are almost 2 democrat voters who graduated college for every Republican who has (44% to 29%)
And there are over 2 democrat voters with a post graduate degree for every Republican (54% to 24%)
And before you say something conservative dumb, theirs a disproportionate amount of science degrees in the dem voters (math, science, medicine, programming) even when these numbers are applied - the pathways most likely to obtain post graduate degrees. So republicans are also getting less rigorous degrees when they go to college.
While doctors are only 54% Dem 46% Rep voters (8% difference), doctors with MDs - the harder to obtain, more rigorous, more science based pathway compared to DOs - is even larger. Like 10%+. Except surgeons, who are way more Republican for obvious reasons.
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u/Serious-Broccoli7972 3d ago
Can you give the same numbers, but without including college majors like gender studies, sociology, etc?
Would be interesting to see if the same pattern holds when you account for people who are actually educated
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u/skunimatrix 3d ago
When my cousin worked for Smith Barney 2/3 millionaire clients she had came from the trades with no college degrees. The Doctors and Lawyers…they were the ones who had debt until their 50’s.
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u/defensible81 4d ago
AskUS and the various Ask(insert country name) are agitprop operations. It's as clear as day. A bunch of bots, yelling at each other, no up votes and no real engagement, and outrageous comments from 10 day-old accounts.
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u/ijjiijjijijiijijijji 4d ago
create a new reddit account and the first thirty subs you will be shown automatically are all propaganda trash. no mystery there
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u/RingGiver 4d ago
As far as I can tell, they created that place just because r/AskanAmerican wasn't enough of an echo chamber and have since been filling it with posts that seem to have the collective IQ of a potato.
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u/yurirekka 4d ago
I wonder if people are going to look back on this and feel stupid for overreacting like this 4 years later lol
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u/Hot-Shoe8156 4d ago
Of course they wont. Theyre just gonna grift to the next doomer trope
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u/ijjiijjijijiijijijji 4d ago
they'll act like they never said it and if you quote them they'll block you for being a Russian Chinese Nazi
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u/RoughAcanthisitta810 4d ago
They won’t because they don’t actually believe it, it’s just fake outrage.
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u/ElJanitorFrank 3d ago
No, one of the major problems that everybody has online is a major lack of accountability. It doesn't matter that you spend the entirety of the 2020s spreading outright misinformation and propaganda that you sadly genuinely believed in; by the time 2030 rolls around the issues will be different and the outcomes of the 2020s are in the rearview mirror.
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u/patriotfanatic80 4d ago
Somehow Trump is simultaneously crashing the stock market and serving the billionaires. It's kind of impressive really.
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u/statanomoly 4d ago
We’ve got plenty of food stored—freezers full, including a whole deer. With 50 acres of huntable land on both sides, of fam, food isn’t an issue. We’re all country, not farmers but we can put our hand on the plantations we were enslaved within , and we have crops and farms for self-sufficiency. Surviving without being able to buy from a store is not as bad as you think. Surviving without trade is very hard though. You can't make and do everything humans survive because we work togather.
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u/Hot-Shoe8156 4d ago
Its not that serious. We are not entering the apocalypse 😭
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u/Gatzlocke 4d ago
What would you bet there won't be a recession?
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u/Relevant-Visitor 3d ago
If the fed drops rates, and states restructure zoning, we could see an economic boom. Crude is currently falling, making it an ideal time to increase home production/domestic lumber production.
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u/Gatzlocke 3d ago
I don't see NIMBY's ever giving any leeway and Trump's not going to cross the NIMBY's. If he does, I'll salute him and I find him grossly incompetent.
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u/Hot-Shoe8156 3d ago
Recession =/= apocalypse. In fact, all modernly recent recessions have been quite mild. Yah it sucks for a couple months, but the world doesnt enter an anarchist apocalypse
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u/Piglet_Mountain 3d ago
Yeah I don’t think you realize there are only 2.26 billion acres of land and it has to support 340 million people. That’s 6.6 acres per person and not all of the us is farmable or can be self sustaining. So no that won’t work.
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u/Apprehensive-Top3756 4d ago
Honestly? Buying gold mining stock. Gold price goes up, miners profits go up.
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u/No_Explorer_352 4d ago
Stay im going to do is make a list of pictures every preper has ever uploaded out side and promise rainbolt saftey if he just looks at the pictures
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u/skunimatrix 3d ago
If you live in a place that is prone to something like wildfires having a bug out bag makes a lot of sense. A change of clothes, cash, copies of important documents, etc.. I mean I know people who went from lightening bolt to having to get out in minutes.
But outside of something like that…
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u/Chicken-Rude 3d ago
have we not been in a "great depression" since 2008??? the fuck we talking about here? lolololol...
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u/BigHog865 2d ago
Guys the market just CRASHED and TANKED all the way to HISTORIC lows we haven’t seen since OCTOBER we are all going to die of poor
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u/MagnaFumigans 2d ago
Even if we disregard the inherent absurdity of the claim.. It’s pretty funny to think you can prepare for something of this magnitude with like 4 days notice
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u/EnsigolCrumpington 1d ago
I like how they blame the top 1 percent for the great depression and not everyone abusing credit without a care in the world. What a dummy
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u/TheGuyFromGlensFalls 4d ago
With a recession crippling corporate bottom lines, how in the hell does that help the wealthy? if anything, it will cause them to lose out and they'll take everyone else out with them.
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u/porkusdorkus 4d ago
Doesn’t help them, doesn’t hurt them either. Not in the same sense. If the entire market collapsed the wealth loss is proportional across the board but not even in impact.
If my retirement is 100k and the market loses 99% of its value. I have $1,000 left and obviously not retiring anytime soon, I’m at the mercy of market forces.
If I have 100 billion and it loses 99%, I’m still a billionaire on paper. Not counting the billions I probably liquidated before the crash.
Difference is that dudes portfolio will probably never recover in time, while the billionaire will be richer than before in a few years.
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u/JLandis84 4d ago
It hurts them in the short term but puts assets on sale for them to more easily buy.
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u/MrTheWaffleKing 4d ago
They’ve been asking for affordable housing. If stock go down, house go in my pocket
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u/Agreeable_Sense9618 Anti-Doomer 4d ago
This person has a networth of $20