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.
Re:Ask HN: Why Is Everything Declining?
by maerF0x0 on Monday January 30, 2023 @09:57AM
(#34580357)
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.
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