Re:Ask HN: Why Is Everything Declining?
by somethoughts on Saturday January 28, 2023 @05:18PM
(#34562592)
A mind shift (that might help) is to realize that if you have a 401K or IRA or pension - which if you are on HN you have at likely at least have some modicum amount likely - then you are an indirect beneficiary by these profit seeking moves.
From the distribution chart it seems most of the US stock market is owned via IRAs/401Ks/defined benefits and insurance versus individual accounts. [1]
Those evil corporate landlords that drive up rents? Well, likely they are acting on behalf of former hardworking teachers of Canada. Sure there is skimming involved but a bulk is going toward to teacher's retirement. [2]
Of course mileage may vary whether this helps how one feels.
[1] https://i.insider.com/5746013852bcd044008c527e?width=1200for...
[2] Why Canada’s Teachers Run an Investment Firm in Singapore https://www.youtube.com/watch?v=7HXcT_xlLB0
That's also a good point. Boomers legislated themselves to a bunch of entitlements at my expense, whilst simultaneously cutting any sort of good for my (and subsequent) generations.
Another angle is if I struggle and work hard, what rewards accrue to others, and what do I get in return? The ROI on effort seems to be dwindling cause fakes are crowding out the real hard workers. And the buyers (ie wealthy investors) cant seem to tell the difference between expertise and bald faced lies. (I blame social media and rise of influencers for this, a bunch of fancy graphics and a iphone and now you know the 1 real secret the life long scientists have been holding back to our fatloss/clear pores/million dollar a month business).. Then again it was the missteps of institutions that even gave influencers their chance (a little lack of integrity ruins it for all)