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Im sure the wealthy find a way to socialize these “losses”. Also what a shit headline. There’s no wealth destroyed, it’s all just numbers go up and down. But u
by barbazoo 11mo ago
Im sure the wealthy find a way to socialize these “losses”.
Also what a shit headline. There’s no wealth destroyed, it’s all just numbers go up and down. But until you sell you haven’t lost any money, have you?
- smallmancontrov 11mo agoBut truly, is not red in the brokerage accounts of the wealthy the greatest social ill of our time?
- JKCalhoun 11mo agoMaybe a distinction without a difference. If my "numbers go down" it follows that so does my spending, investing, etc.
- barbazoo 11mo agoYou're right. I guess it depends on many variables. If you're income depends on dividends and gradually selling offs of your portfolio, I can see now how that would affect my behavior. Same with being someone close to retirement but then, financial planning should have pulled out high volatile stocks from a portfolio that needs to get converted to cash shortly. If you're a normal person, planning on buying and holding broad market ETFs for the next 20 years, we're just gonna ride it out, right? Right?
- IAmBroom 11mo agoWithout buying and selling, there is no change in price. Obviously, wealth will therefore be destroyed - just not that of buy-and-hold people. I have no sympathy for the uber-wealthy, but claiming no one's wealth will be affected is ridiculous.
- barbazoo 11mo agoThe way I think about it is that it'll affect those most that are the most greedy, those that are exposed to the most risky "products". If your wealth is in bonds or something else boring, won't this be a non event? I'm not convinced it's not someone in the background choosing wrong (greed) that's the problem.
- throwaway984393 11mo ago[dead]