Stock market crash means a lot of people lose their jobs, including people living paycheck to paycheck
this post was submitted on 19 Mar 2025
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I think the point is - scary threat isn't scary, because such people already feel the constant threat of poverty every day. Being regularly pumped full of cortisol over worries of simply surviving, there are no fucks left to give when additional threats are piled on.
Yeah, but a lot of people were being laid off before as well, weren't they?
Yes, but it’s significantly worse in an actual market crash.
People suck at gauging risk. The only question is whether people have to deal with the threat of losing their job or not. Nobody thinks "how safe is my job in quantitavie terms", it's more "do I feel my job is safe". More people may flip on the second in a market crash, but it doesn't change anything for already insecure people.
The problem could be that there is no paycheck next time anymore.
That’s the problem every paycheque when you’re living paycheque to paycheque, no?
i think i'm getting old. welcome to your first financial hardship, though. you picked a doozie.
This will be my 3rd. But the first one mostly influenced my parents. We just felt shitty when our parents couldn't afford anything for us during Xmas. That was also the time my parents told us Santa wasn't real which made sense why the asshole in class always got the good shit.
This will be the third or fourth "once in a lifetime economic crisis" I've lived through in my lifetime and I'm barely 30.
The 2007 crisis never ended. It's just more and more bailouts now, nothing was meaningfully fixed.
Line goes down and you are out the door. Line goes up and you get jack shit. Isn't the stock market so great and normal?
That’s just a strategy problem. You have to have the gut to ride out line going down.
I got laid off from my most meaningful job (Fred Hutchinson Cancer Research Institute) because of cutbacks resulting from the 2009 "Savings and Loan Crisis" - which happened to occur while the grant that paid for my job was being renewed.
I got laid off from my most fun job (World Opponent Network, a spinoff of Sierra Games) because of cutbacks when the parent company lost a shareholder lawsuit after some executive fuckwads cooked the books to manipulate the stock price.
The big-money people don't care what kind of shit rains down on the peasants. Their world revolves around having more money they don't need than they had last year when they also didn't need it.
How does one come to work at both a cancer research institute and a game development company? That's quite a diverse set of skills
The subject matter really isn't that important in computer programming. My work was all with databases and web pages. At WON I wrote an online tournament system, which I got to do entirely by myself because it was such a small organization. At Fred Hutch I worked on a system where clinics around the world entered test results, biopsy data etc. for cancer research projects. My own daughter had been cured of a brain tumor (which is what made that job meaningful to me). I planned on spending the rest of my career at Fred Hutch, until shit happened. On the plus side, after Fred Hutch I got to work at Wizards of the Coast (more db and web dev), which always impresses people. I would say that place was more fun thatn World Opponent Network except at WON we had Unreal tournaments and occasional nerf gun fights.
Odd question but I'm trying to remember a old game that I think was on WON. It was a top down hover tank muiltyplayer battle game. Was alot of fun but dont remember the name of it for the life of me. Edit found it! Attack Retrieve Capture
ARC?
edit: Right, didn't see your edit. Yes ARC was Attack. Retrieve. Capture. It was created by two guys, Brian and John, who were at WON when I was. They created the game in college (Duke University I think) before dropping out to come work at WON. They had formed a company called Hoopy Entertainment so we called them the hoopies. At one point somebody found out they had been coming in on weekends, working 7 days a week for months, so they were basically ordered to take some time off. Bona fide nerd life - the hoopies were the real deal.
Those guys were a lot of fun - one time they ran another guy's speaker wires under the partition to their cubicle and through one of their computers, so they could mix sounds into his audio. Occasionally they would fade it up for a while but usually they kept it very faint. He was going crazy, thinking his hardware was picking up a radio station or people's phone calls, he couldn't tell. After he figured it out he retaliated by attaching a spare wall section across the opening between the hoopy guys' joint cube after they left, so they had to climb over it to get back in. The hoopies actually left it that way for a while because it was kind of like a fort.
I remember Brian writing a really nice connection simulator that artificially added network latency for testing. They also created a game based on cops and robbers driving around a city, but the prototype turned out not to be fun enough so they scrapped it. Eventually I think Hoopy became PopCap. I'm sure those guys both got rich.
Good memories.
People living from paycheck to paycheck are gonna get the most fucked in event of a market crash tho. Just not immediately directly that day.
Those with savings will ride it out and make big gains when the market rebounds assuming there is still a market
Dammit i got excited for a second cause i thought there was another drop but I assume this is aboit a previous one.
Can't be affected by the dollar crashing if you don't have any dollars 😎
What crash? S&P has been up today and for the week. That's not a crash. A slump maybe, but so far line keep going back up.
Down over 7% for the month, which is supposed to be the average annual return over time. Idk about “crash”, but it’s definitely volatile right now.
Up 10% from last march though, so really we’re just seeing a market correction
Title gore.