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originalfrozenbanana ,

They didn’t gain $49 trillion. Their total wealth is $49 trillion. Still terrible but the article’s headline is misleading.

mozz ,
@mozz@mbin.grits.dev avatar

Yes

Nobody will say they lost $49 trillion if stock go down next week

They cannot get $49 trillion out of the market by selling all their stocks

It's just a weird misleading framing

originalfrozenbanana ,

I guess the difference there is that the wealthy can take out loans and secure assets like houses against their stocks but yes the stock market isn’t real

popcap200 ,

I mean, regular people can do that too, just not to the same extent. Robinhood is offering 6.75% now on margin loans, and IBKR has like 6.85% or so.

Sanctus ,
@Sanctus@lemmy.world avatar

We should start a successful Occupy Wallstreet.

Allonzee ,

As someone who participated in the last, maybe shut down any fellow peasants who try to insult and/or mock the next one, if the owners allow there to be a next one.

There’s nothing more demoralizing than being attacked by the people you’re desperately trying to help.

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