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Yes, they are - the "rich" will take a haircut and not care because they fundamentally own the economy itself. The "middle class" or what's left it (see techie
by hobs 2y ago
Yes, they are - the "rich" will take a haircut and not care because they fundamentally own the economy itself.
The "middle class" or what's left it (see techies and their RSUs) are the ones who actually care about the stock market in the short/medium term because all their money is tied up in it, and their lucky bets are all that stand between them and being working class.
The working class has been screwed six ways to sunday, so they don't really care except insofar as it might mean we're doing stupid stuff like getting in more wars, or making it impossible to pay rent.
- eszed 2y agoYes. From that standpoint (which I want to persuade everyone to adopt), we're all "Working Class", and we need to stand together.
- 01100011 2y agoYou mean the techies who saw massive gains over the past few years and were fools if they adjusted their spending as if it was going to continue forever? No man, I think we will be fine. Sorry if you can't send your kids to a top school or buy another tesla. If you consider your RSUs part of your salary and not a bonus you are not being responsible with your family's finances.