this post was submitted on 08 Nov 2025
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United States | News & Politics

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[–] tornavish@lemmy.cafe 2 points 1 day ago (1 children)

We should probably just shut down the stock market before things get bad. Nobody needs to be gambling anyway

[–] hitmyspot@aussie.zone 2 points 1 day ago (2 children)

I wonder if this is a crash that will hurt the rich more. It's the companies that will lose most.

[–] tornavish@lemmy.cafe 5 points 1 day ago (1 children)

The people at the top, I mean the top top, are typically the ones who get a heads up on these things. They shift things around and never lose a dime.

[–] hitmyspot@aussie.zone 2 points 1 day ago (1 children)

Yes, typically. But in this case, it seems to be the wealthy investing each other's money rather than people's houses.

A recession will still hurt everyone and particularly the poor, but the rich mat be less shielded this time around.

[–] tornavish@lemmy.cafe 1 points 18 hours ago (1 children)

I don’t think the rich ever lose their shields. If a (one) billionaire loses half of their money they still have half $1 billion. There is no threat to them. It’s just silly to think that a few bad months is going to destroy them. They have built this world for centuries… A few months is not going to kill the ruling class.

[–] hitmyspot@aussie.zone 1 points 12 hours ago* (last edited 12 hours ago)

Yes, but usually they rebound after in the asset rise and inflation. However, this book looks less like it's credit based. It seems to be built on companies lending to each other rather than in the banking system.

I still think the poor will suffer most, but with other drops the richest have ended up richer in real terms and in percent of assets held. I don't think that will be true this time.

[–] Tollana1234567@lemmy.today 3 points 1 day ago* (last edited 1 day ago)

the ones that are heavily invested in AI: google, nvidia, openAI, amazon maybe? MS of course. probably palintir too. it will hurt retail just as bad too?