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That story in particular jumps out at me. This is being described as a rebellion against rich Wall Street bankers by the everyday people... but who has $50K sit
by afavour 6y ago
That story in particular jumps out at me. This is being described as a rebellion against rich Wall Street bankers by the everyday people... but who has $50K sitting around for investments like this?
Don't get me wrong, I think a lot of people buying are full of rage at Wall Street. But I think they might get even angrier when they realize who made off with most of the money in the end.
- downandout 6y agoIt was his life savings.
- afavour 6y agoThat maybe be what he says. I’m dubious.
- Kalium 6y agoA reasonable number of upper-middle-class American professionals have that kind of money. Maybe not always in cash, but it's far from an implausible amount. I would go so far as to guess that a sizable number of users on this very website could manage that amount.
- seastonATccs 6y agoI'm an average dude financially. Make less then 75k a year with a family of six. I could loose 50k in cash and be fine. My SO would be tiffed, but our life wouldn't change.
- Tijdreiziger 6y agoBut would you bet that 50k on a single stock?
- zapzupnz 6y agoSomebody who doesn’t follow the markets probably wouldn’t, no. But those in /r/wallstreetbets aren’t unfamiliar with the machinations of the markets — for many of its core users, it’s not just some little side hobby.
- lithos 6y agoEssentially the people who graduated college at the start of the 2000 crash, were further victimized by the 2008 downturn. These are people that picked up habits of Great Depression victims in savings habits and lack of trust in safety nets.