'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....

[OldBaldy1701E]

8. You grok well!

(And, since this came up the last time I used the word...)

https://en.wikipedia.org/wiki/Grok

[Ol Janx Spirit]

10. Well, the land we live in has definitely gotten stranger.... (nt)

[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.

[OldBaldy1701E]

9. The fluctuations actually do have an effect on almost everyone...

But that is because they connected those things to the general well-being of the culture. There is no reason for stocks to have that much of an effect on every aspect of all of our lives, but they made sure 'business' became the only thing that mattered, so here we are.

That is the reason most are done with this crap. Being connected to things that we have no control over yet said things can destroy us without even being in the same state... or even the same country. It is pretty much diabolical.

It is also bullshit, in my opinion. Forcing this 'third-party' crap on people who had no desire to be involved.