That is a good thing!
Don’t let them take it back
$200bn of ownership has NOT changed hands.
They’ve just had a property revaluation.
Could only wish that caused them as much pain as the average American, Canadian, Mexican, European is getting walloped with every day under Trump.
If you’re linking to a paywalled site like bloomberg, could you please provide the text in the post, or link to a archive.org copy? All I know about this is the title and the first paragraph of the article. Frustrating.
You can search for the headline plus “msn” and almost always find it:
Some places don’t like people to do that. I’m normally somewhat against it, since I do think it’s important for journalists to get paid, but in this case:
- The MSN link actually does in some sense make sure that they get paid. I don’t actually know all the details but I am assuming that this involves in some way money going from sketchy people who buy internet ads, to Microsoft, to the journalists’ corporate overlords, eventually in theory to the journalists, so actually in some weird way it is fitting the requirement.
- It’s Bloomberg, so who cares.
I wish this would only damage the billionaires.
Yeah. It’s a little bit of a misleading article, to be honest. They didn’t “lose” anything. Conditions changed for them, and they’re planning to clean up on a bunch of undervalued assets once this entire bullshit is winding down (whenever that happens), and they’ll wind up hugely ahead of where they started out.
There are other possibilities of course, but all of the other possibilities that I think are realistic involve complete collapse. Which they will, almost certainly, be positioned to survive much better than the average peasant will.
Sadly you are most likely correct. I’m not sure what to do because it doesn’t feel like voting and volunteering are working.
After first having gained $300 billion? Y’all know that the stock pumping started two months earlier than Jan. 20?
Way to steal joy from me. But you’re right to point this out.
Billionaires can afford to lose 209 billion because they can buy up the rest for cheap when we’re all destitute.
Those MF are shorting the market right now making billions on the process. Once market hits rock bottom, the will buy back everything at the cheapest price and end up making even more on the way up. There’s really no way to hurt them on that matter. As most people are saying, the only people being hurt from this is the working class.
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.
Welcome to the club. Us millennials never had the plan to retire.
Many good people in Ukraine don’t have that problem anymore, because they’re already dead as a result of Trump’s decisions :/
And yes this isn’t the most monstrous thing trump has done. Hanging Ukraine out to dry is unconscionable, but this post was about economics. The thing trump promised to be good about and he was believed. He’s nuking our economy from orbit and no one can help us. It’s as though he wants to hurt everyone “beneath” him.
He does. The 2020 election loss was a huge narcissistic injury and, as anyone with a narcissist in their circle knows, he’ll never get over that rejection. Everyone must pay.
Yeah, I know. I’m not saying my problem is the biggest. I am saying that billionaires aren’t hurt by losing even large fractions of their wealth, but us normal people are, in tangible ways
Stock market ain’t nearly the same gamble when you have enough money to sway it.
Millennial checking in: you guys have the chance to retire?
I’m an elder millennial. Yeah, hopefully eventually… We’ll see.
I’m an elder millennial
Your username gave that away. ( ͡° ͜ʖ ͡°)
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.
It won’t be soon, anymore.
sorry, but i don’t give a flying fuck about your retirement account. your country is literally falling into fascism and you’re worrying about how that’s going to affect your retirement plan?
people are being rounded up and put into camps.
your retirement plan should be to die fighting to stop it.
Way to show that you don’t care about the common person. If you think it would make a billionaire frown, you’d accept your neighbor working their ass off for another decade.
And no, you’re not fucking sorry, you lying excuse for an empath. Fake fucking leftists everywhere…
i care deeply for the common person. if we overthrow the ruling class you can retire whenever you want. until then, no, i don’t care about your retirement fund. you’re extremely lucky to be in this unfortunate position. I am not sorry for telling you this, because you need to read it, but I am truly sorry for causing you to suffer by reading it. sometimes, though, people do need to hear unpleasant truths.
if you really want to fight for your retirement, then join a union and get involved with activism.
You’re fucking ridiculous. All I have to do is successfully revolt but until then I have no right to complain. Fucking pathetic nonstarter
complain all you want, you have every right to do that, and while I could have worded it better, and i’m genuinely sorry that I didn’t, but if the worst thing that happens to you is that you have to work for as long as everyone else, then you’re very privileged, and complaining about it just comes across as selfish and entitled.
imagine if your family and hundreds of thousands of other people got rounded up and were being sent by train into concentration camps, but someone sabotaged the railway lines to disrupt that plan. then imagine someone on a thread about that story was complaining that the railway sabotage made them late to the cinema.
maybe you wouldn’t write the most compassionate reply to that comment either. maybe you’re a better person than me. i have no idea. but i still don’t give a shit about your retirement fund, i never will, and i won’t apologise for that. if that makes me a bad person, so be it.
I don’t give a shit about anything you say. You lost me a while ago. Slaving under capitalism for years of one’s life is torture. Everything you’re saying is hyperbole just designed to judge and shit on me ✌️
if you didn’t give a shit about what i say you wouldn’t have gotten angry at what i wrote.
i know i was wrong to be so aggressive and hostile in my original message, and i apologise for that.
i don’t think you’re a bad person, in fact, i’m sure you are kind and loving. i don’t want to shit on you.
but i do stand by what i wrote since. you’re so determined to be angry that you won’t listen to sense.
Who were the people pushing for 401ks instead of pensions again?
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.
OH OH, ME, PICK ME! Was it Republicans and business owners?!
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.
I’m a European that was heavily invested in British defense stocks. When your boy and his mutt attacked Zelensky in the whitehouse i bought more of them and expanded to Europe as a whole.
Trump throwing the American Economy and Hegemony against the wall has been great for me.
My portfolio has grown 20% since you numptys voted him in.
Hey buddy really quick, don’t ever fucking call that demon my boy again. If I was in the same room with him, it would be worth spending my life in prison to end his sorry existence.
Great welcome to the club most of us were born into and had zero chance of leaving.
Okay cool, I guess the class division strategy worked
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.
Trump’s plan to help eliminate the federal debt was to print money
“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.
Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.
Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”
Someone remind me how the Zimbabwe dollar collapsed again?
Yeah i hear you. I expect stocks to dip well before the dollar loses its status. I’ll switch again at a (hopefully) good time.
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.
“The market will recover eventually” is a dangerous mindset.
What do you invest in? Aren’t you just adding fuel to the slave-driven global suicide machine?
They’re called retirement accounts and we don’t get much choice in the matter. Google it
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.
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.
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.
But not until they managed to poison the idea of masks, demanded the end of the lockdown so they wouldn’t continue to lose money on commercial real estate, started enshitifying platforms and services, began inflating their products, and participated in shrinkflation.
The wealthy took out their shareholder losses from the COVID lockdown and made it all back by punishing everyone else. Not saying you’re wrong, but they lost a lot before turning every trick they could think of to extract wealth back from the filthy peasants and that $1200 stimulus that didn’t go to them to offset their losses. I mean how many of us got a PPP loan, which didn’t need to be paid back?
This kind of shit is why we can’t have unregulated wealth and so much unlimited money in politics.
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.
Yes, 100%. They only lose money when they sell their shares at a loss. And I am sure they would only do this in ways that benefit them financially.
The billionaires will do just fine. Their companies may use this as an excuse to do some layoffs though.
When people are hurting is when it’s easiest to take advantage.
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
Damn, does it really work that way?
I was reading that filling carts will mess with their resources and inventory and cause extra work for them that they otherwise wouldn’t have to do. I also did specifically Amazon branded products just to fuck with them more as well
209 Billion seems like a lot but it’s not in comparison to their overall wealth. Us poors need to stop celebrating their financial losses.
It’s a good start but not nearly enough.
And I certainly hope they continue to lose more of their value.
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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.
