Re:Dow plunges 1000 points
by kaycebasques on Monday February 05, 2018 @09:19PM
(#16313977)
> When the stock market dropped 50% in 2008/2009, so many people in retirement age were ruined because their retirement money was in the markets.
Interesting perspective on why central bankers have seemed so complacent about high stock valuations.
I've also heard commentaries that the wealth effect was one of the tactics used to drag the US out of the Great Recession.
One of the great feats of social engineering that Wall Street has done in the several decades is convincing regular people that they should have their money in the stock market.
Ironically you could call this “owning the means of production”
Too true! I sometimes wonder why the marxist/socialist types aren't pushing for some sort of government fund that owns a percentage of all listed stocks. That's essentially what they want, right? All the pieces are in place to easily and relatively painlessly do this. I mean I kind of like it as the basis for a basic income. The basic income can start small, but as the economy grows, even if that includes via robots and automation, the basic income will grow as well.
One of the great feats of social engineering that Wall Street has done in the several decades is convincing regular people that they should have their money in the stock market. That lets them make billions of dollars "taking care of" their money without any personal risk themselves.