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A comment on The Crash of ’87, from the Wall Street Players Who Lived It. Parent comment

Re:The Crash of ’87, from the Wall Street Players Who Lived It by PatientTrader on Tuesday October 17, 2017 @01:22PM (#15492770)
> It's also ignoring the amount of middle-class savings that are destroyed during the crash

Cash savings actually increase in value during crashes. Crashes provide the middle class with opportunities to purchase assets that they otherwise would not be able to afford.

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Re:The Crash of ’87, from the Wall Street Players Who Lived It by jonwachob91 on Tuesday October 17, 2017 @02:33PM (#15493472)
> Cash savings actually increase in value during crashes.

I get that, but you have to have cash savings before you can purchase assets. MOST middle class individuals can't afford to keep their savings in cash. MAYBE they keep 6 months of salary in cash in the event of a lose of work, but every other saved dollar is put to work.

You'd have to destroy their life savings to give them a decent opportunity to buy assets on the cheap.

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