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Hey (sh.itjust.works)

submitted 3 days ago by Zapados@sh.itjust.works to c/peoplemastodon@quokk.au

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[–] paultimate14@lemmy.world 7 points 3 days ago (1 children)

I quite honestly don't care about how the stock market does.

93% of the stock market is owned by 10% of the US population. The bottom 50% owns just 1% of the stocks. And that article is from 2024 so it's probably worse now.

I care about how people are doing, not stocks.

[–] SubArcticTundra@lemmy.ml 2 points 3 days ago

You don't need to convince me of the evilness of stock markets — if you hope to find untapped people to convince then look outside Lemmy, this is an echo chamber.

What I was saying is that the stress which you said subdued during Lockdown was caused by the pressure from stocks, and if stocks kept growing during lockdown then it means they did the impossible and somehow managed to decouple their growth from wringing people dry. If that indeed happened then it means that all that is necessary to stop the stress is to coerce the stock market back into the state it was in during covid (=bankers would stay happy because imaginary line would keep going up) rather than dissolving it entirely (needless to mention how much more effort that would take).

That said, I'm not an economist and I don't know anything about the covid era stock market.