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If $6T was truly lost from the 1% only, I think you would see some people celebrating, or at least not caring so much. But how many 401ks will now leave a retir
by advisedwang 4y ago
If $6T was truly lost from the 1% only, I think you would see some people celebrating, or at least not caring so much. But how many 401ks will now leave a retiree indigent? How many people will be unemployed in a downturn, even if they never held any stock? How many people's savings will be destroyed by inflation?
- pessimizer 4y ago> This $6T in lost wealth is mostly among middle and upper class. > If $6T was truly lost from the 1% only Do you think that "the 1% only" is a fair substitution for the "middle and upper class"?
- advisedwang 4y agoNo I don't, which is kind of my point. I was responding to a comment that was suggesting those in favour of equality would celebrate this. I was responding that in reality this hurts a lot of people and so no one is celebrating.