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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.
Would Biden break an Occupy like Obama did?
Obama didn't need to break the occupy wall street moment. That moment was so unorganized that it broke itself.
The media had their role in it too by setting a 'tone' for the whole thing by treating it like a joke from the start and being sure to always interview the kookiest of people whenever they'd visit one of the encampments. Alternatively, conservative outlets like Fox would paint the protestors like a bunch of entitled freeloaders who just wanted to cause problems.
That clip of the wall street tycoons drinking champagne and laughing at the protesters.
They weren’t Wall Street tycoons. They were just people attending a wedding.
Why does this misinformation keep spreading?
Because, even though that specific photo wasn't about rich people laughing at the protests, you damn well know they all did just that. We just don't have pictures.
I get the symbolism. But calling something that it isn’t is just flat out disingenuous.
I think that's because leftist movements with leaders get Fred Hampton'd.
The amount of figures within OWS and BLM that died under strange circumstances is pretty not comforting knowing the organizations who do things like that have near impunity and control of information.
Occupy had no central leadership and nobody on earth seems to be able to accept orgs like that. Seems we've been conditioned to believe that everything must be run in a hierarchy.
If you were there you developed an appreciation for sanitation. I dropped off food a few times and it smelled horrific.
Some organization is a good thing.
Yeah, sure, that's why they had the police beat up protesters and journalists.
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.
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.
Have you seen Gundam? That won't stop anything because there will be a working class there too and much much fewer places to hide.
I'd argue that the class warfare is still raging on as an inborn human trait that happens to be partially expressed with our various economic systems throughout history. We can still win if we manage to breed out our hierarchical tendencies to a point where it's not detrimental to our survival as a whole.
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.
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?
"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.
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.
I mean technically if you have a retirement fund you are probably invested.
Would a crash lower house prices?
Sure, but you won't be able to buy any. Hedge funds will hoover up all of the freed inventory faster than retail buyers can.
Then we nationalize the hedge funds and seize their property through eminent domain. Fuck their economy.
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 ?