A Boring Dystopia

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The ultra-wealthy just gained $49 trillion in wealth thanks to stocks (www.cnbc.com)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 9 points 3 months ago (1 children)

Yes

Nobody will say they lost $49 trillion if stock go down next week

They cannot get $49 trillion out of the market by selling all their stocks

It's just a weird misleading framing

[–] [email protected] 9 points 3 months ago (1 children)

I guess the difference there is that the wealthy can take out loans and secure assets like houses against their stocks but yes the stock market isn’t real

[–] [email protected] 6 points 3 months ago

I mean, regular people can do that too, just not to the same extent. Robinhood is offering 6.75% now on margin loans, and IBKR has like 6.85% or so.