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I think that individuals with that much money have no problems with losing a large percent of their wealth in a down market and are willing to wait until the market goes up.
What is more important is an income large enough to pay the bills and this probably changes very little as the market fluctuates.
The top 1% losing a few billion doesn't really affect the global economy much. I'm more concerned about the debt loads and more people requiring welfare and the large number of people about to start pulling from social security. With us being at the tail end of an economic cycle and the debt already being at 105% of GDP things could get interesting.
I dont give a flying F about seriously rich people and their so called "sorrows". If someone who has $100 million lost 20% of it BFD... they still have $80 million, perhaps they have to downgrade their daily Champagne and Caviar indulgence from Vintage 1874 to Vintage 1880, omg, what a sorry situation, truly tragic!!!
Meanwhile those of us poor people, the proletarian, who have less than a million saved, a 20% loss can be totally devastating.
I dont give a flying F about seriously rich people and their so called "sorrows". If someone who has $100 million lost 20% of it BFD... they still have $80 million, perhaps they have to downgrade their daily Champagne and Caviar indulgence from Vintage 1874 to Vintage 1880, omg, what a sorry situation, truly tragic!!!
Meanwhile those of us poor people, the proletarian, who have less than a million saved, a 20% loss can be totally devastating.
The top 1% losing a few billion doesn't really affect the global economy much. I'm more concerned about the debt loads and more people requiring welfare and the large number of people about to start pulling from social security. With us being at the tail end of an economic cycle and the debt already being at 105% of GDP things could get interesting.
^^Yes, I'm having the exact same thoughts. It's like you read my mind.
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