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[–] Fancy_Gecko@lemmy.ml -1 points 3 months ago (5 children)

why shouldn't i be celebrating this ? if normies and pension funds dont want to hold the bag they shouldn't invest in these scams , who is forcing them ?

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[–] thanksforreading@lemmy.ml 10 points 3 months ago (2 children)

They all hold index funds and index funds buy this because they buy based on a predetermined algorithms. There is no human in the loop. The pension funds are using our money. You are cheering Elon and the Epstein gang robbing us blind. Get financially literate or get scammed.

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[–] Flyberius@hexbear.net 3 points 3 months ago

But being financially literate wouldn't stop them from stealing your pension.

Get class conscious. Then murder these people

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[–] snooggums@piefed.world 3 points 3 months ago

It is more that a lot of them are tied to a specific stock market that has guardrails against new companies coming in and causing massive swings, but those markets made exceptions for AI companies for no logical reason.

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[–] JillyB@beehaw.org 3 points 3 months ago

That's a very flippant, holier-than-thou attitude. "It's fine to scam people out of their life savings. They shouldn't have been scammed". Pure victim blaming mindset.

Most people don't control where their pension funds are invested. Responsible retirement plans that invest in index funds will also be affected without anybody specifically choosing to invest in SpaceX. And even if they did, it's still not ok to pump and dump other people's money.

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[–] bennieandthez@lemmygrad.ml 2 points 3 months ago

because it means that musk and his buddies just used you as a liquidity pool lol.