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You can't discount the impact this will have on global stock markets and what that may do to both individuals and, more importantly, pension funds, as a large s
by passwordoops 11mo ago
You can't discount the impact this will have on global stock markets and what that may do to both individuals and, more importantly, pension funds, as a large swath of people are retiring
- HelloNurse 11mo agoDamage is unavoidable, we can only hope that it happens to someone deserving. Innocent individuals and pension funds still have time to retreat; if they don't it will be their fault.
- azan_ 11mo agoWe are moving towards gerontocracy - if pension funds will have large losses it’s very likely that young, working age people will be taxed extra heavily to keep the QOL of pensioners.
- zmgsabst 11mo agoThat would likely lead to a revolution: Millennials are 30-45 and they’re not in a good place; neither is Gen Z. We’re already seeing revolutions elsewhere — and it’s likely that trying to loot them further by generations who sold out the nation will simply lead to social collapse.
- jfil 11mo agoHave you ever battled an 87-year-old wearing mechanized battle armour? They're crazed, hopped on speed, eyes goggling in their sockets A pack of 3 oldies burst through our perimeter one winter night... the screaming woke me up. Outside my tent the forest was lit up red by our laser blasts, trying desparately to take them out. We thought that a revolution would be a good idea, but an upside-down population pyramid is a hell of a thing when you're on the bottom.
- mnky9800n 11mo agoYes but this is by design. Wealthy people want bubbles, when they pop, you can gobble up all the value at all time lows. Then you hold until you don't feel like it anymore as the market goes back to growing. You see this as how private equity has bought up real estate across the USA to turn into rentals after 2008, for example.
- ctkhn 11mo agoThere was an article here recently about alpha school that mentioned this is how of of its backers made a lot in the aftermath of the dot com bubble - picking up companies with products that happened to implode in the bust. He's not the only one and that's not the only bubble that had that happen
- azan_ 11mo agoAren’t extremely wealthy people that wealthy due to the valuation of their stock? IIRC generally the higher the networth, the higher share is kept in stocks
- mattfca 11mo agoPerson A has a net worth of 2B Person A has a loan at 500M backed by their holdings Stocks drop 50%, Net worth is now 1B Person A buys $500m of stocks Market Recovers 100% Person A now has 2B original holdings and 1B gains, $500m owned = 2.5B Very simple example, and not the only way to do it - but people need to remember net worth being 500B is not 500B in the bank, and at some point the number doesnt matter
- markus_zhang 11mo agoI suspect $$ is just a number for them. Being able to control more resources is the ultimate game. You gotta have zillions of $$ to join the tournament, though.
- cjrp 11mo agoThey can move their wealth from stocks to gold, for example. Look at the price of gold.
- limpbizkitfan 11mo agoPerhaps most of the impact could be burdened on NVIDIA investors, employees, leadership, or OpenAI investors, employees, leadership, etc., etc.