The profits are privatized but the losses are socialized. For a hypersimplification, the stock market tanking will cause banks to give out less money to places like Walmart which will cause Walmart to increase their prices to make up for the money they aren’t getting. The rich and wealthy will barely feel any effects because they can afford those increased prices. The suffering they will experience will be a slightly smaller yacht. Everyone else will experience higher food prices, higher rent, less job opportunities, lower wages, etc. as the wealthy extract all they can out of us in order to recoup the money they feel entitled to.
In order to deal with the incoming bubble pop in a way that doesn’t unfairly impact regular working folks, we would need the government to force the rich and wealthy to eat the results of their gambling addiction.
80 or 85% of the money in the markets is controlled by the wealthy. I don’t mind if those people suffer.
The profits are privatized but the losses are socialized. For a hypersimplification, the stock market tanking will cause banks to give out less money to places like Walmart which will cause Walmart to increase their prices to make up for the money they aren’t getting. The rich and wealthy will barely feel any effects because they can afford those increased prices. The suffering they will experience will be a slightly smaller yacht. Everyone else will experience higher food prices, higher rent, less job opportunities, lower wages, etc. as the wealthy extract all they can out of us in order to recoup the money they feel entitled to.
In order to deal with the incoming bubble pop in a way that doesn’t unfairly impact regular working folks, we would need the government to force the rich and wealthy to eat the results of their gambling addiction.