Don’t worry, they will recover multiple times that amount when the ship steadies as they’re probably busy acquiring assets at rock bottom prices that they’ve caused by supporting the Trump presidency.
I’m hazarding a guess and would love for someone to fact check this but every time there is a recession I feel the rich get richer and everyone else loses.
But not until they managed to poison the idea of masks, demanded the end of the lockdown so they wouldn’t continue to lose money on commercial real estate, started enshitifying platforms and services, began inflating their products, and participated in shrinkflation.
The wealthy took out their shareholder losses from the COVID lockdown and made it all back by punishing everyone else. Not saying you’re wrong, but they lost a lot before turning every trick they could think of to extract wealth back from the filthy peasants and that $1200 stimulus that didn’t go to them to offset their losses. I mean how many of us got a PPP loan, which didn’t need to be paid back?
This kind of shit is why we can’t have unregulated wealth and so much unlimited money in politics.
You know that thing where chatbots talk to each other and it gets progressively more and more nonsensical and bonkers?
I imagine a scenario kind of like this, but with billionaires telling each other that they’re billionaires and it’s fine to loan money because they have speculative collateral. So billionaires will borrow from billionaires who cover the bill by borrowing from other billionaires who borrow from the first billionaire I mentioned, all because “they’re good for it. Look at how much stock they own.”
Meanwhile they all have functionally nothing in liquid.
Don’t worry, they will recover multiple times that amount when the ship steadies as they’re probably busy acquiring assets at rock bottom prices that they’ve caused by supporting the Trump presidency.
I’m hazarding a guess and would love for someone to fact check this but every time there is a recession I feel the rich get richer and everyone else loses.
Not just recessions, but the pandemic was a huge boon. I guess any crisis that hits the market just right will get milked by these assholes.
But not until they managed to poison the idea of masks, demanded the end of the lockdown so they wouldn’t continue to lose money on commercial real estate, started enshitifying platforms and services, began inflating their products, and participated in shrinkflation.
The wealthy took out their shareholder losses from the COVID lockdown and made it all back by punishing everyone else. Not saying you’re wrong, but they lost a lot before turning every trick they could think of to extract wealth back from the filthy peasants and that $1200 stimulus that didn’t go to them to offset their losses. I mean how many of us got a PPP loan, which didn’t need to be paid back?
This kind of shit is why we can’t have unregulated wealth and so much unlimited money in politics.
You know that thing where chatbots talk to each other and it gets progressively more and more nonsensical and bonkers?
I imagine a scenario kind of like this, but with billionaires telling each other that they’re billionaires and it’s fine to loan money because they have speculative collateral. So billionaires will borrow from billionaires who cover the bill by borrowing from other billionaires who borrow from the first billionaire I mentioned, all because “they’re good for it. Look at how much stock they own.”
Meanwhile they all have functionally nothing in liquid.
Yes, 100%. They only lose money when they sell their shares at a loss. And I am sure they would only do this in ways that benefit them financially.
The billionaires will do just fine. Their companies may use this as an excuse to do some layoffs though.
When people are hurting is when it’s easiest to take advantage.