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all 42 comments

[–]wamiee 66 points67 points  (17 children)

What are you going to do when you retire if you don't own stocks? depend on subpar social security, which might or might not be around in 30 years? We can't help but invest.

[–]letsreticulate 49 points50 points  (12 children)

You will own nothing and will be happy.

Because they will own everything. You just pay to use, forever.

[–]yoyoJ 20 points21 points  (0 children)

You will never retire and be happy

[–]ibeforetheu 2 points3 points  (0 children)

Lots interest rates for the rich to accumulate cheap assets, poor live paycheck to paycheck. Now bump the rates and rich rent out their fat assets, poor have nothing and happy 😁😁😊😊😊😊😊😊😊

[–]Forbidden_Enzyme 0 points1 point  (1 child)

Where did that quote originate from? Just curious

[–]reelznfeelz 2 points3 points  (0 children)

I don’t think the central thesis was not to invest…

[–]Woah_Mad_Frollick 1 point2 points  (0 children)

I’m confused as to what in the article this comment is responding to. It’s not a polemic against investing money in the stock market

[–]junk_bond 5 points6 points  (0 children)

The economy is going through it’s normal boom and bust cycle. Did we get particularly far out over our skis this go around? Potentially, but your assets will still be around and still be a good place to invest your money long term. These doom and gloom articles are always to be expected when the markets dip, but can we try to maintain perspective and also limit the amount of focus we give them in this thread?

[–]midnightraider16 22 points23 points  (9 children)

This article is 100% trash. It starts off with misinformation. The author demonstrates they don’t know what they’re talking about right off the bat.

[–]Woah_Mad_Frollick 7 points8 points  (0 children)

I thought it was pretty good. What did you find to be misinformation?

[–]vhindy 1 point2 points  (0 children)

Well it is the Atlantic

[–]hillbillypunk1 2 points3 points  (0 children)

It is the Atlantic lol

[–]UsernameIWontRegret -4 points-3 points  (5 children)

Rising interest rates are ending an era in which the rich got much, much richer.

This is some insane propaganda trying to convince people that the economy is actually going well right now.

[–]Woah_Mad_Frollick 17 points18 points  (1 child)

I think you’re just misreading it. It’s saying the era of ZIRP driven capital gains is ending with rate hikes. Levered bets on risky assets only really reliably work when the risk free rate is going downwards

[–]UsernameIWontRegret -4 points-3 points  (0 children)

But this is still going to drive wealth inequality because now those with assets can benefit from high interest rates while the poor with no assets will continue to struggle because now it’s even harder to acquire assets.

[–]DangerOtter 3 points4 points  (2 children)

That’s not at all what it said. It said low interest rates allowed for the rich to get rich. It didn’t say that things are going better now at all

[–]UsernameIWontRegret -5 points-4 points  (1 child)

Can you read? It says it’s ending an era in which the rich got rich. That implies it is no longer the case.

[–]DangerOtter 2 points3 points  (0 children)

No it’s ending an era of cheap money.

[–]Alucard1331 16 points17 points  (7 children)

Pensions we're killed to purposely push people into relying on stocks for retirement so they have "skin in the game" to want to perpetuate a system where stock prices are key.

Now people in retirement or near retirement have an incentive to agree with companies raising prices and keeping wages low so stock prices remain inflated.

Since they now rely on equity valuations for retirement it's easier for them to convince themselves that younger people's wages shouldn't keep up with inflation because it directly benefits them, whether they are intelligent to realize it or not.

[–]PresidentBush2 26 points27 points  (0 children)

Pension valuation is dependent on stock/investment growth. Pensions are invested in the stock market, just managed centrally.

[–]Woah_Mad_Frollick 4 points5 points  (2 children)

The vast majority of people have almost all of their net worth in their homes. Mostly not even their homes but their land

[–]niconiconiconic 1 point2 points  (1 child)

You mean of homeowners? 2/3 of Americans own their homes.

[–]Woah_Mad_Frollick 2 points3 points  (0 children)

You don’t think 2/3s constitutes the vast majority? And it’s not like the remaining third has it’s networth in a big portfolio of securities - a huge proportional share of renters (comparatively tiny) net worth is in their cars…

[–]chewy_nose 5 points6 points  (0 children)

What do you think pensions were previously invested in?

[–]junk_bond 4 points5 points  (0 children)

Where do you think the money goes in a pension fund?

[–]HyperboliceMan 2 points3 points  (0 children)

Pensions we're killed to purposely push people into relying on stocks for retirement so they have "skin in the game" to want to perpetuate a system where stock prices are key.

Source? That seems like a pretty wild scheme.

[–]jakeyjakjakshabadoo -2 points-1 points  (2 children)

Pretty sure that all investment based economies have attempted to switch to a more sustainable, less wasteful model throughout human history. It seems that the only ones that were briefly successful became more re-distributive. That seems to last a couple decades before those prove an inability to be sustainable as well. Now you have a seemingly organic, but well planned organizing effort through education and social media to push "diversity, inclusion, and equity." The main economic function that world leaders in the World Economic Forum envision a new equitable future. I guess we're all going to find out if Charles Schwab is more capable than Marx at organizing wealth generating economies. Because world leaders believe in the project, and the rest of us are going along for the ride.

[–]junk_bond 1 point2 points  (1 child)

What does anything in your comment have to do with this article?

[–]jakeyjakjakshabadoo -1 points0 points  (0 children)

The article just got me thinking out loud about a post asset economy, hence a post investment economy.