Is Bud Light Still Woke?
Is Bud Light Still Woke?
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93 comments
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I've often heard people describe the stock market as a graph of rich people's feelings. Looking at this, if that was true? This is the most relatable the 1% have been in a century.
Edit: Yeah I know, folks. I did say if.
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Meh. Really rich people are so fucking diversified that it doesn’t matter to them what the hell the stock market does on a 4-year scale. They’ll benefit from other assets and wait out the storm, buying equities when others are selling. Shit, even upper middle-class people can often do this without sweating too much.
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I watched this video essay by Benn Jordan on American Capitalism that suggests the ultra wealthy are trading their net worth for control. Companies don't want to make more money, they want to have more control over your life. They'll buy out every competing company and give out their products or services at a loss even if it means losing a billion dollars a year with no plan to turn a profit anytime soon. They do it with the goal of becoming the only company that provides something people rely on.
Musk's net worth has dropped $100 billion but he now controls what government programs get funding and who gets government jobs. He traded his net worth for control.
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On a similar note there are arguments that claim Putin or MBS are far wealthier than Musk for similar logic as that video. At those points money means nothing and the next step is influence.
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This is actually what real 1%ers want. They can easily absorb the blow, and now they can actually buy more for less. When the market recovers, they will have increased their wealth exponentially. They paid for this to happen.
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0.01% percenters maybe.
1% in the US is about ½ million annual income. A lot of money to be sure but common enough that you're not anything exceptional. You'll never worry about money, but you're still working a job and you're still fucked if you lose it. You're still incapable of solving world hunger. Maybe you could sort out a neighbourhood hunger problem.
1% globally is about $50,000 income annually. Now you're really amongst the working population in the US. They're not absorbing any blows.
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½ million annual income
That's FatFIRE territory. They can already handle losing their jobs (thus FI) and can easily take advantage of bargain prices.
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Rich people is moving assets to elsewhere now, normal Americans has nowhere do go.
The two things will hurt rich people are tax and death.
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Im definitely not even in the 1%, but ive made money on this market by making some obvious trades. Long Lockheed after their massive correction and short tesla. Im certain the 1% know even more than what to do here and are making even more money. When someones manipuling the market, it doesnt matter which way it moves for these people, it matters that they know which direction it moves before it does that
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If you're trading stocks you're def in the global 1%. You only need $50k income a year.
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No, it's the reflection of speculation within the market. It's not just rich people because if major banks analysts think the working class is going to buy less that will also be reflected in the markets.
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93 comments