The thing is, this doesn’t just hurt “artists.” It boomerangs back to everyone’s 401(k)s. Because suddenly, thousands (eventually millions) of paralegals, writers, illustrators, business affairs, designers, and other mid-career professionals are either hustling for pennies or out of work entirely. They’re not buying homes, Teslas, or even $6 coffees. If just a fraction of those affected start withdrawing early, or simply stop contributing? That stream starts to dry up.
401(k)s are magic—three giant pipes feeding Wall Street: index funds, mutual funds, and ETFs. Even passive investing needs a constant stream of fresh capital to keep valuations propped up. 1 reply
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And this is all hitting an economy already half-collapsed—held together with duct tape, stimulus fumes, and vibes. Companies cut matches. The ripple moves fast because folks aren’t just workers—they’re consumers,—from SaaS subs and furniture to Disney+ and cars. When they stop spending, ad revenue tanks. Creative hubs like Austin, Brooklyn, Portland crash. Startups fold. “Disruption” quietly packs up and leaves. P/E ratios shrink. Stocks dip. 401(k)s sag.
Then the “safe” people—seniors, juniors, middle managers start asking, “Where’s my money?” A generation raised on ZIRP and optimized for the next big thing suddenly realizes there’s no hack for surviving a 401(k) apocalypse. Meanwhile, a Substack guy chirps, “We’re just in the early innings,” while they open a new tab: how to live in your car without getting caught. 0 reply
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