And I can use that price to turn my stocks into real, hard cash. It's not like it's funny money.
You might go to liquidate only to find that YOUR pension...er investment was lost without you knowing it.
https://www.salon.com/2020/06/16/trump-labor-department-quie...
“You accepted the rules by buying in. Can’t say you weren’t aware the market is risky!”
That’s what they keep telling grandparents when their pensions were flushed down the drain.
Let’s keep trusting political grifters of our agency to do right by it despite historical evidence though.
Look at the mathematical facts: most people live paycheck to paycheck, have no rolling cash savings let alone an emergency fund of months.
You think that is a sign most folks are paying attention there very well?
But what’s that mean if they do anyway?
If everyone has a cool million is that some sign we have enough real supplies to go around in a crisis? To satisfy that potential financial demand of cash for real product?
We weren’t producing enough TP to handle a short run on supplies. All energy spent on big finance is purposeful indirection away from truth.
On top of that, all companies I've worked for in the USA allowed me to choose exactly how and where my money will be invested.
Nothing described by the article you posted lets me think that this will be no longer the case.
You are aware that’s possible. Not everyone is. Employers at a lot of companies just pick a default and employees forget about it.
It’s not reasonable to expect the masses to babysit ephemeral inventions that they aren’t ever aware of.
Ok, man. Yep we should all just stick in our heads this is of course proper application of agency defined “for us”. Paulo Freire is rolling over in his grave.
This culture is falling apart because it’s looking for financial efficiency above all else, not emotional resiliency. Just gonna ignore whatever immutable aspects of reality get in the way of that.
you can - but if good fraction of the stockholders were to lose hope and start selling stock the market value would evaporate into thin air very quickly.
OTOH if the value of those stocks was 80% backed by stable assets (production plants, building, land, gold, ...) it would evaporate much less quickly.
That fits the definition of virtual, speculation-based, value.