It's a good start but not nearly enough.
this post was submitted on 11 Mar 2025
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its not enough
Oh my god ... those poor billionaires! .... will they survive?
Everyone ITT is cheering but my retirement account has taken a fucking beating for the same reason. The billionaires aren't hurt by the stock market falling through the floor, it's their slaves that are. A year ago I had a chance at retiring a little early. I don't see that ever happening now.
All my investments are in the net negative now, thousands of dollars wasted, and I will still tell you this is the right direction for the human beings living on the planet. We really don't have forever to keep being crushed under their weight.
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Unless you are retiring soon, this isn't particularly important. For anyone still in the grind, this just means buying the dip.
But it sounds like you are retiring soon, and need more stable investments. I wish you luck on that.
What do you invest in? Aren't you just adding fuel to the slave-driven global suicide machine?
Surviving is adding fuel to the slave driven global suicide machine. You don't have to leave society to try and change it without being a hypocrite.
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Millennial checking in: you guys have the chance to retire?
I moved my 401k from 100% stocks to 100% cash equivalents 3 weeks ago... the writing on the wall was right there
Now you are invested in dollars instead of stocks, but the writing is on the wall for the dollar as well. Just wait until all our former allies start dumping their dollar reserves.
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You're cashing out your plan? I admittedly don't understand how these things work but in any case won't you lose money? The market will recover eventually
"Moving money to cash equivalents [within the plan]" is not the same as "cashing out [the] plan." The money is still in the account, just in the cash sweep fund instead of a stock or bond fund.
A lot of money, not to mention the tax implications.
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Who were the people pushing for 401ks instead of pensions again?
OH OH, ME, PICK ME! Was it Republicans and business owners?!
I've no idea? I have no choice in the matter either way. I'm just watching Trump destroy my future and seeing it cheered because it supposedly also hurts billionaires (it doesn't)
It's the billionaire business owners. They want you to have a false class solidarity with them given your pittance fraction of the market, while giving their own assets higher valuations.
You're getting screwed, don't get me wrong, but there's a reason why.
This is also a response from a place of powerlessness. You can't blame people for enjoying the tiniest fraction of schadenfreude when they're getting constantly fucked by this system.
Yeah I understand that today's retirement accounts save these assholes money. I happen to work non profit but they influenced society such that 403b is basically the same.
I would agree with you about the schadenfreude, but it's not real. I have health and mental issues that could be greatly relieved by working 5 less years of my life. To these fucks, losing 20 billion dollars is nothing but a dick size thing. They don't have to worry at all and they don't have to work at all to begin with
It's not just about saving them money. It's about breaking working class solidarity by forcing our interests to align with theirs.
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That’s a start, I guess.
It’s always a nice headline to read at first and then you remember the real gut feeling is only felt when the losses are paired with a working class salary.
When you go from 400b to 200b, it literally changes nothing about your life like losing 15k when you have 30.
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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.
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.
When people are hurting is when it's easiest to take advantage.
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.
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It may be dangerous to be america's enemy, but to be america's ally is fatal.
I mean, stocks go down they could have been the ones that sold their shares and are holding cash now moving the market. Would have been much easier to have just taxed them so they really lost 200 billion and it was put to good use.
Hell yeah. Just filled my Amazon cart with $3000 of good that I’ll never buy just to fuck with their inventory and I’ll schedule a test drive for a Tesla tomorrow that I won’t show up for to celebrate
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The 1st rule of Applied Spite: If you're going down, make sure to cling to the bastard who pushed you off the edge.
And I certainly hope they continue to lose more of their value.