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Certainly makes me want to give up participating in this stupid economy when one man his billionaire lackeys can crush years of hard work and savings. It’s rea
by Ancalagon 2y ago
Certainly makes me want to give up participating in this stupid economy when one man his billionaire lackeys can crush years of hard work and savings.
It’s really infuriating.
- Marsymars 2y agoHe probably hasn’t really done that. e.g. If you’ve saved $x/month and put it into SPY, I’m not sure you could pick any starting point where you now have years’ less wealth than if you’d put everything into short-term federal bonds (or even plain cash) instead of SPY.
- Ancalagon 2y agoThe returns from the S&P500 for cash invested a year ago are less than a high yield savings account.
- Marsymars 2y agoSure, but if you’ve only been investing your money for the past year, even a 100% drop in the S&P 500 only gives you a single year’s less wealth, not multiple years lost.
- ModernMech 2y agoThe person you responded to said “can crush” not “has crushed”, so your pedantic point isn’t warranted.