4 ms·
Playing devils advocate, not really. Markets are reacting awfully to the positive economic news, and most rich people are pretty nervous right now.
by roflyear 3y ago
Playing devils advocate, not really. Markets are reacting awfully to the positive economic news, and most rich people are pretty nervous right now.
- riskable 3y agoThey're not nervous enough. Things are getting worse and worse for the non-rich every month due to housing costs/rents and medical expenses growing faster than inflation which is already not great (3.7%, officially). They shouldn't be worried about losing some % of net worth in the stock market and/or increased union activity. They should be worried about civil unrest. There's no free bread and the commoners are getting fed up with the circus.
- deleted 3y ago[deleted]
- micromacrofoot 3y agoIn my experience rich "nervousness" is like yuppie "busy-ness" — it's kind of a glorified exaggeration that serves as some kind of coping mechanism. What specifically are the rich nervous about? Outside of complete economic collapse they've got far less to worry about than everyone else. If they're worried about economic collapse they're essentially worried about becoming like the rest of us... not anything worth advocating for here.
- trgn 3y agolol the news made every analyst bump the value of the expected interest-rate cell in their spreadsheets. gdp-numbers are basically just mirroring inflation. It is not growth if it decimates companies market caps.
- micromacrofoot 3y agoI thought the article said it's adjusted for inflation
- trgn 3y agoWhere's all that new wealth though? Asset values are flatlining. Would love to have somebody explain it to me, how this big growth number has made anybody wealthier in inflation-adjusted-terms.