Then you probably don’t know many people who have retirement accounts, because most “regular people” who do have at least some of that money invested in Mutual Funds.
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Literally anyone who has a 401K or any other sort of retirement investment… the vast majority of the work force, who did not have access to a pension, which started phasing out in the 80s and 90s.
He was probably LITERALLY grandfathered in.
Fuck my whole family, I guess, since we weren’t smart enough to be born before pensions went the way of the dodo and 401ks were the norm. How silly of my entire family? I guess we deserve whatever we get for not being born and working during the period when unions had actual power in our society. our bad.
So did lots of my family, too, but you know, we’re scum who deserve to suffer.
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TLDR: It’s about 55%, so people on both sides might legitimately claim to be “regular”
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You may not own stock, but if the company that owns the company you work for sees its stock tank too much, they are going to want to make themselves more attractive to the people who do. So while they lose money, other, more vulnerable people are going to lose jobs and homes.
That may be okay with you, but I personally don’t think it’s funny when people become homeless and starve.
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Wait ‘til you get a load of BRK.A.
That being said I don’t think there’s really anything wrong with fractional shares. It’s all the same when you cash it out.
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There has never been a President who has been less able to deal with the day-to-day business of government let alone a crisis and none who has been so destructive to the nation. Now we have a stock market collapse, a trade war, and the beginning of a global pandemic. He has fired everyone competent who could lead and gutted the government infrastructure that could fix the problems. If this goes on he’s going to have to declare a war or suspend the Constitution and rule by decree if he doesn’t want to be defeated in November.
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I own one share of Tesla that I got at ~$200/share because I wanted to own stock in spacex but they are private.
My friends mocked me … but look at me now … I have $̶9̶0̶0̶ ̶$̶8̶0̶0̶ ̶$̶7̶0̶0̶ ̶$̶6̶0̶0̶ ok whatever i get to vote at the shareholder meetings like michael scott.
The 2008 drop put state and local governments under consider strain, making it harder to offer necessary local services. In my sector, higher education, 25 years of academic job shortages were finally starting to ease in the early 2000s thanks to retirements, but as a consequence of the economic meltdown public universities nationwide initiated hiring freezes that eventually evolved into permanent positions just disappearing.
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No, because your statements about “every single person” and the conclusion were logically faulty.
Your statements lumped Trump voters all together, implying that they all have the same immutable motivation. They don’t and it’s easily provable. Therefore, your statements and the conclusion you made, which I quoted, are logically unsound.
But now many of the posts have been deleted and the flow of the thread has been cut. However:
-The implication that a bad week on Wall Street is life or death for millions of people is absurd, Chicken Little kind of stuff.
-The implication that all Trump voters are the same and this bad week on Wall Street won’t change anything in November is also missing the mark. It will.
-The implication that this week is a “collapse”, and that some of us are rooting for a collapse, is wrong. It’s a correction. Go look up the parameters of a market correction.
Etc.
They still voted for a candidate who RAN ON racist rhetoric and a promise to implement racist policies… at the very least, they don’t give a shit about racism and how it impacts people who don’t look like them…
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Every single person with a 401k owns stock, by a certain definition of “own,” I guess. One of my older partners had to delay his retirement for 7 years after the 2008 crash. It does indeed affect real people.
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Yup:
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Never said that. I just said if it’s going to crash anyway, would you rather it a year into a democratic presidency or the last year or so of Donald Trumps presidency?
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I think people are objecting to celebrating an event that will have real world negative consequences. It’s never good for people end up in dire straights, no matter who is president. The way to get him out is to organize against him, not to hope for a financial disaster that impacts millions of people.
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One could argue the damage Trump is doing is worse than an economic recession or collapse.
Have you seen the union of concerned scientists saying we’re closer to nuclear Armageddon than since the Cuban missile crisis? Trump shredded our nuclear arms treaties remember?
So if it’s all the stuff I listed above or nuclear apocalypse, I’ll take economic slowdown.
Celebrating people’s retirement going up in smoke is still not the way to get change. It’s just mean-spirited.
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Sounds to me like you have no skin in the game.
If you have nothing to loose it’s all fine. Many many many others here on the other hand…
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You’re now treating an economic downturn as the ONLY way to remove Trump. That simply isn’t the case. As many have pointed out, it might not even work. Meanwhile, the suffering due to the downturn is cumulative with the suffering under the Trump administration.
It’s a selfish, shortsighted, and shitty position.
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I own part of my families business but, what they do is pretty resilient.
