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What bailouts? Joe down the street declaring bankruptcy because he bet the house on the new shitcoin of the week does not affect me. His credit score being ruin
by JohnWhigham 5y ago
What bailouts? Joe down the street declaring bankruptcy because he bet the house on the new shitcoin of the week does not affect me. His credit score being ruined is not my problem. You know what is my problem? Massive companies that can afford to lose it all getting bailouts from my tax dollars. I have no say in that. I'm not fucking giving up securities trading (something that people like John Bogle fought hard to give the layperson) because some people can't educate themselves.
I swear, some people here want to live in a nanny state.
- mihaic 5y agoWhen Joe down the street and a lot of his neighbours go bankrupt they default on their mortgage loans, which can have a cascading effect, as it actually did in 2008. The taxpayer that chose not to gamble in the stockmarket will foot most of that bill, part through inflation and part through actual bailouts and stimulus packages. One person is not important, but if a million people engage in some economic activity we're all affected in the long term, so should have a word to say about this.