He’s billions richer. But he’s also caused what feels to me like the fastest devaluation of the dollar and rapid loss of purchasing power for Americans.
I had a thought the other day that I’m not nearly financially literate enough to know how true it is, but with all the talk about stocks going up, couldn’t that be an effect of the dollar going down?
I’ve been saying for a long time that a catastrophic market crash is the only way for the US dollar to return to a reasonable purchasing power.
If it’s not catastrophic, big financiers will just buy in the dip and then further consolidate the wealth of the nation while things climb back up. When I say catastrophic, I mean irrecoverably. I mean the concept of Wall Street needs to disappear due to how complete and total the stock market crash is.
People just call me a sociopath and say “think of the 401ks!” Yeah, well, toxic system has to break sooner or later, and we’ve been kicking that can down the road long enough. People who are heavily invested in that system shouldn’t be protected from feeling the consequences of a tower stacked too high.
That was my take as well. Anyone with large real estate or other investment portfolios is treading water while those who don’t are sinking without directly realizing why.
He’s billions richer. But he’s also caused what feels to me like the fastest devaluation of the dollar and rapid loss of purchasing power for Americans.
So we all lose and he makes a small fortune.
It’s only been 1 year too.
I had a thought the other day that I’m not nearly financially literate enough to know how true it is, but with all the talk about stocks going up, couldn’t that be an effect of the dollar going down?
Yes. You need to look at the cost of stocks in constant dollars to avoid measuring inflation.
I’ve been saying for a long time that a catastrophic market crash is the only way for the US dollar to return to a reasonable purchasing power.
If it’s not catastrophic, big financiers will just buy in the dip and then further consolidate the wealth of the nation while things climb back up. When I say catastrophic, I mean irrecoverably. I mean the concept of Wall Street needs to disappear due to how complete and total the stock market crash is.
People just call me a sociopath and say “think of the 401ks!” Yeah, well, toxic system has to break sooner or later, and we’ve been kicking that can down the road long enough. People who are heavily invested in that system shouldn’t be protected from feeling the consequences of a tower stacked too high.
That was my take as well. Anyone with large real estate or other investment portfolios is treading water while those who don’t are sinking without directly realizing why.