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Yes, everyone is whistling past the graveyard about this. You will see panic in two weeks. I was talking to two truck drivers here in Lincoln, Nebraska I met a
by FollowingTheDao 1y ago
Yes, everyone is whistling past the graveyard about this.
You will see panic in two weeks. I was talking to two truck drivers here in Lincoln, Nebraska I met at a Flying J. They are already talking about layoffs and job insecurity and they are wondering why no one cares. One of them asked where his bail out was.
The market, I think, is driven by AI and will be reactive, not predictive. All you need to do is be the quickest person out. All the under millionaire suckers will be wondering what happened to their 401k's.
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- azinman2 1y agoIf the millionaire has most money in the market, won’t they be wondering what happened to their money as well?
- FollowingTheDao 1y agoThey do not make up the majority, and most of them have other assets: "only about 12% of U.S. households have a net worth over $1 million." https://finance.yahoo.com/news/guess-percent-people-1-million-203249715.html https://finance.yahoo.com/news/guess-percent-people-1-millio...
- azinman2 1y agoI’m in that 12% (fortunately). But I’m far from the 0.5%. The 0.5% have complex diversified assets. “Normal” millionaires like me are mostly real estate and market. We are vulnerable both to market losses and, if the economy crashes, much lower property values.