3 ms·
“I’m decades away from retiring, so I’m happy to let these businesses fall apart, destroy trillions in value, and layoff millions of people so I can buy some sh
by ryanwaggoner 6y ago
“I’m decades away from retiring, so I’m happy to let these businesses fall apart, destroy trillions in value, and layoff millions of people so I can buy some shares at a cheaper price!”
This is like letting your neighbor’s house burn down because you’ve always wanted to buy the land under it.
- dlp211 6y agoThis isn't an either let all businesses fail or prop up the entire stock market with cheap cash choice and your framing of it as such is intellectually dishonest.
- ryanwaggoner 6y agoI didn’t frame it as an either/or. I literally just reframed what you said: that people far away from retirement shouldn’t care if the stock market crashes, because they’ll benefit if it does.
- dlp211 6y agoThe market making a correction != businesses failing. The market is severely overpriced as-is, it didn't need to be propped up. Companies don't fail because their share price has dropped.