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100% agree with this perspective. It’s surprising how few others seem to note this. Thanks for posting it.

by gU9x3u8XmQNG 2y ago

anon291 2y ago
And what is the solution?
- noisy_boy 2y ago
  Repeal citizens united, curb campaign and lobbying spending, breaking down of these chaebol-like conglomerates, make healthcare public and tax the rich massively. Something no body seems to want.
  - oblio 2y ago
    Switch to a better voting system to destroy the 2 party system and curb extremists getting into power. At least the state compact voting change to modernize the electoral college.
- gU9x3u8XmQNG 2y ago
  I’m definitely not qualified to answer this. I would like to say, from my perspective, that it seems to not matter how “good”, even “exceptional”, business listed on the stock market do; the outcome is hostile and negative to the customer/consumer. Costs have only gone up, dramatically so. In my case; entirely disproportionate to, if any, income increase coming in. Market does good. Market does exceptional. The experience has generally been negative? Market does bad? I expect a lot of us can connect the dots, and will no doubt be impacted again. Maybe the market, in my perspective; is not a beneficial experience.
JackYoustra 2y ago
Why would shareholders want to tank the value of their shares?
- tjbiddle 2y ago
  Buy the dip?
  - otterley 2y ago
    Most wealthy people’s wealth is in investments. If the value of the investments goes down, there are fewer resources to “buy the dip.” It doesn’t hold water as a theory. Basically robbing Peter to pay Paul.
    - lenerdenator 2y ago
      They have people whose jobs it is to even out those troughs, and I don't think you realize just how wealthy the wealthiest wealthy really are. Mark Zuckerberg, Elon Musk, and Larry Ellison each have a net worth that is on par with the total gross economic output of a small American metropolitan area.
      - tasuki 2y ago
        > Mark Zuckerberg, Elon Musk, and Larry Ellison each have a net worth that is on par with the total gross economic output of a small American metropolitan area. You're comparing apples to oranges. Net worth is in dollars, while economic output is dollars per unit of time. The comparison does not make sense. You didn't even say which unit of time! Hell, I have a higher net worth than the total economic output of the US, given a short enough time frame.
        joquarky 2y ago
        This level of pedantry won't play in reality against someone who just lost everything and is seeking revenge on the tech bros who they perceive as enabling all of this.
        tasuki 2y ago
        I hope lenerdenator didn't just lose everything and isn't seeking revenge on the tech bros - more likely he's a tech bro! It's not pedantry though. It really makes no sense to compare earnings per unit of time to accumulated wealth. They are entirely different things. Compare the wealth of Elon vs wealth of average person on the Earth, or average US citizen. Those are also mind-boggling numbers and it makes sense to compare them.

100% agree with this perspective. It’s surprising how few others seem to note this. Thanks for posting it.

anon291 2y ago

And what is the solution?

noisy_boy 2y ago
Repeal citizens united, curb campaign and lobbying spending, breaking down of these chaebol-like conglomerates, make healthcare public and tax the rich massively. Something no body seems to want.
- oblio 2y ago
  Switch to a better voting system to destroy the 2 party system and curb extremists getting into power. At least the state compact voting change to modernize the electoral college.
gU9x3u8XmQNG 2y ago
I’m definitely not qualified to answer this. I would like to say, from my perspective, that it seems to not matter how “good”, even “exceptional”, business listed on the stock market do; the outcome is hostile and negative to the customer/consumer. Costs have only gone up, dramatically so. In my case; entirely disproportionate to, if any, income increase coming in. Market does good. Market does exceptional. The experience has generally been negative? Market does bad? I expect a lot of us can connect the dots, and will no doubt be impacted again. Maybe the market, in my perspective; is not a beneficial experience.

JackYoustra 2y ago

Why would shareholders want to tank the value of their shares?

tjbiddle 2y ago
Buy the dip?
- otterley 2y ago
  Most wealthy people’s wealth is in investments. If the value of the investments goes down, there are fewer resources to “buy the dip.” It doesn’t hold water as a theory. Basically robbing Peter to pay Paul.
  - lenerdenator 2y ago
    They have people whose jobs it is to even out those troughs, and I don't think you realize just how wealthy the wealthiest wealthy really are. Mark Zuckerberg, Elon Musk, and Larry Ellison each have a net worth that is on par with the total gross economic output of a small American metropolitan area.
    - tasuki 2y ago
      > Mark Zuckerberg, Elon Musk, and Larry Ellison each have a net worth that is on par with the total gross economic output of a small American metropolitan area. You're comparing apples to oranges. Net worth is in dollars, while economic output is dollars per unit of time. The comparison does not make sense. You didn't even say which unit of time! Hell, I have a higher net worth than the total economic output of the US, given a short enough time frame.
      - joquarky 2y ago
        This level of pedantry won't play in reality against someone who just lost everything and is seeking revenge on the tech bros who they perceive as enabling all of this.
        tasuki 2y ago
        I hope lenerdenator didn't just lose everything and isn't seeking revenge on the tech bros - more likely he's a tech bro! It's not pedantry though. It really makes no sense to compare earnings per unit of time to accumulated wealth. They are entirely different things. Compare the wealth of Elon vs wealth of average person on the Earth, or average US citizen. Those are also mind-boggling numbers and it makes sense to compare them.