Isn't the counter-point to this the stock price of PG&E? Look at its performance over the last 5 years, it's down to ~$11 from ~$50.
If the the whole market looked like this in the next year, people's 401k accounts would probably be demolished.
If the the whole market looked like this in the next year, people's 401k accounts would probably be demolished.
How many people do you know that truly had their lives ruined by the 2008 crash? Allowing the markets to find a bottom and recover creates opportunities for social mobility.
The people who don't want asset prices to drop are rich people. They are the ones who own the assets.