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wylin
@wylin
fantasy where I am hired at CNBC, and a finance guy is melting down on his losses. me: this is terrible. we are sorry for your losses, your trading fortune has done so much for humanity. ehat will your losses mean for people who work for a living? finance guy: (awkward silence)
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Michael Gingras (lilfrog)
@frog
Perhaps it means the vast amount of Americans who are exposed to the market have reduced purchasing power and can no longer buy what working for a living guy has on offer
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wylin
@wylin
- The top 10% of Americans own 88% of equities, 88% of the stock market - The next 40% owns 12% of the stock market - The bottom 50% has debt -Summer of 2024 more Americans were using food banks than they ever have in history the market is at June 2024 levels and has yet to dip as hard on a % basis as it did in Q2-4 of 2022 perhaps equity holders & professional email senders could consider lifting themselves up by their bootstraps or learn to code & maintain manufacturing robots while their P/E ratios are being compressed as they suggested the blue collar workforce do while they suppressed wages, offshored industries, and socialized the cost of excessive risk taking through taxpayer funded bailouts
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