I have a pet theory that the “money” is being siphoned from peoples’ retirement accounts.
They deregulated multiple safeguards against market concentration risk. Result that corporations have converted working people’s “safe” diversified retirement savings into growth-chasing “pick a winner” stock bets. For example, a 401K account can (now) be like 20%+ invested in a single company like Microsoft or Nvidia.
Then using accounting shenanigans, the AI hype and lots of other trickery certain tech stocks juiced their growth just as the brakes came off and they have sucked an ungodly amount of wealth out of the normal economy.
This is an epic (real) wealth transfer beyond anything I’ve seen or imagined.
If there is a rug pull, the billionaire safety bunkers will make sense.
This “market” exposure will wipe out the investor class also. This is the enshittification of the stock market.
Well, BlackRock’s Larry Fink is already on record publicly saying that the funding for AI (e.g. data centers) will come from peoples’ savings, pensions, etc …
A generation back the auto workers unions decided to invest the pension funds in the auto companies.
That cheap financing paid for the auto manufacturers to afford to close the unionized plants and move them to Mexico. Byeeeee! Enjoy your unemployment!
I have a pet theory that the “money” is being siphoned from peoples’ retirement accounts.
They deregulated multiple safeguards against market concentration risk. Result that corporations have converted working people’s “safe” diversified retirement savings into growth-chasing “pick a winner” stock bets. For example, a 401K account can (now) be like 20%+ invested in a single company like Microsoft or Nvidia.
Then using accounting shenanigans, the AI hype and lots of other trickery certain tech stocks juiced their growth just as the brakes came off and they have sucked an ungodly amount of wealth out of the normal economy.
This is an epic (real) wealth transfer beyond anything I’ve seen or imagined.
If there is a rug pull, the billionaire safety bunkers will make sense.
This “market” exposure will wipe out the investor class also. This is the enshittification of the stock market.
Well, BlackRock’s Larry Fink is already on record publicly saying that the funding for AI (e.g. data centers) will come from peoples’ savings, pensions, etc …
A generation back the auto workers unions decided to invest the pension funds in the auto companies.
That cheap financing paid for the auto manufacturers to afford to close the unionized plants and move them to Mexico. Byeeeee! Enjoy your unemployment!