Quote:
Originally Posted by Harry Lime
The stock markets indicate how the richest in the country are doing, not the rise or lowering of the standard of living. Unless you believe in trickle down economics.
A crash could mean panicked closures, and that could effect the masses directly, but otherwise 100 points = 1 lavish Eyes Wide Shut ball.
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It's funny to me how many people take the stock market as some kind of standard of living indicator. It just means that there is demand for the stock right now. A lot of people are having less faith in the dollar and are moving their money into stocks (and things like gold and real estate), so the demand compared to supply is high right now, which could lead to an overvalued stock market. Some companies are also profiting more because of higher prices, which isn't great for the consumers.
There is especially high demand for tech related stock because companies like that are less affected by tariffs, so you see a lot of those companies capitalizing on that and skewing the market. There might be a bit of irony in the fact that a lot of those companies are also employing fewer and fewer people as AI advances, but hey, at least the CEOs will be making money. The stock market also doesn't tell you how small companies that aren't publicly traded are doing.
The number of poor people who support Trump, many of whom probably don't have the luxury of getting heavily invested in the market themselves, praising it as some kind of win for them is hilarious. It's mainly a win for the wealthy.
Like you said, unless you believe in trickle down economics, which is BS. The only time trickle down economics work is once the rich start losing money, then they make sure everyone feels it. Otherwise the money mostly just funnels upward.