'I love it when the stock market...'

[OldBaldy1701E]

Amazing how that works, isn't it?

[Fiendish Thingy]

1. And sometimes when it goes up, it's *because* people have lost their jobs

You know increased productivity, lower overhead, now new and improved with AI!

[gab13by13]

2. Yup, the market loves it when companies fire people.

[modrepub]

3. When It Goes Down A Bunch

We bail out the folks who probably caused the crash with their risky behavior. They get golden parachutes at worst or left in place because they somehow have institutional knowledge that we need for the company to recover.

It’s the classic heads we win and tails you loose your job and get saddled with more government debt and cuts to programs that would help the majority of Americans.

[malthaussen]

4. Unfortunately, inaccurate.

Many people have their entire retirement wrapped up in 401(k)s and other instruments which are fodder for the stock market. Stocks go up, their retirement is secure(-er). Stocks go down, they're ruined. It's not just about jobs.

-- Mal

[TBF]

5. That's the tough part -

While the wealthiest 1% own more than half the stock (source - Motley Fool), I found through the same Google search that approximately 62% of U.S. adults own stock, which includes those invested in retirement accounts like 401(k)s. This means that about 60% of households have exposure to the stock market, often through retirement savings plans such as IRAs and 401(k)s. In our case the firm originally had a robust retirement plan, but several years ago, dissolved it and poured it into 401K's (so, yes, it can look like a big retirement pot - but it's subject to more fees and volatility). I think this holds true for a lot of us clinging to the middle class. Every time I see Donald jerk the market around with his insider tips (most recently the Iran oil BS) it just makes me angrier.

[Ol Janx Spirit]

6. Capitalism is the world's most successful religion, and it proved it in 2024 when...

...the racism of birtherism, the calling McCain and soldiers that lost their lives suckers and losers, the "grab them by the [REDACTED]", the botched COVID response and suggestion to drink bleach, the January 6th insurrection, the paying off a porn star, the conviction for sexual abuse, the endless grifting, the lying, etc., etc., etc., meant nothing compared to the price of eggs and gas.

This is now the world in which we live.

The only thing that actually counts is the bank account....

[Dr. T]

7. There are an awful lot of hard working people

living paycheck to paycheck who don't have the luxury of a retirement savings account. I used to be one. Stock market fluctuations mean nothing to them.