Re:The Gordon Gekko Effect: The Role of Culture in the Finan...
by blargey on Sunday November 08, 2026 @02:27AM
(#50411147)
Not sure why you think a market crash will help housing affordability, much less cars and "etc", and do so enough to overtake the proportionate squeeze on jobs, income, and credit availability. The "pension raid" is decried because a small rich cabal is seen as using it to cash out on inflated valuations before the subsequent correction, and basically everyone whose retirement plan isn't "an early grave" pays into it equally.
Can I add another wrinkle: wealthy Gekko is obviously the villain, trying to raid pensions to expand his own coffers. Now, what if the pension raid is the cratering of index funds (and the financial contagion that follows)? What if the beneficiary isn't a rich financier, but a generation of workers who finally see asset prices plummet enough to allow them to afford homes, cars, etc.?
Seeing the parallels to our current (or coming) moment, I wonder how others read it.