Quote (inkanddagger @ 3 Apr 2018 00:11)
I can't see this as being anything but positive for the working classes. The owner classes will hurt, and good. They deserve it for overvaluing the market and putting themselves in this situation to begin with.
Only half of American households own any stocks. (This figure includes everyone with a 401(k) or other retirement account.) The vast majority of them own less than $10,000 worth. Eighty four percent of stocks are owned by the top 10% wealthiest households. So, who will be directly impacted by the recent fall in the stock market? Rich people. They can afford it.
America already immorally favors investors with our tax laws. Rich people who earn a living purely from their investments pay a lower tax rate than those of us who have real jobs. We need not cry for them when those investments decline.
i wonder where that talking point was when the trump cult acted like prospering markets were a sign of how well president spanky did for all americans.
that being said, the reason for the latest stock market insecurities, the looming trade war with china WILL hurt the working class, WILL hurt consumers - and i'm curious to hear "your" version of why that is actually a good thing. or did FOX not produce a talking point on that yet?