This is astronomically incorrect it’s basically an info hazard.
A market crash like that would result in extremely broad layoffs, major global supply chain instabilities, and a cataclysmic knock on effect of capital losses into nearly every walk of life on earth.
Not to mention, as many already have, the federal govt would undoubtedly bail out the worst actors and leave the poor to fend for themselves.
Just yesterday the Treasury Department announced they aren’t going to enforce a money laundering law. You think they’re going to New Deal a major crash’s now? No way.
Also the rich have cash flow and can continuously invest during crashes.
The top 10% aren’t losing their jobs in a crash, but the bottom 50% might.
So while the top 10% keeps investing and will maximize the recovery, the bottom 50% will cash out at the bottom and won’t return to invest for years after their emergency fund has recovered.
I remember reading during covid about how Zuck lost billions in a single day. But he never lost his job. Meta kept paying him and he continued to invest throughout covid.
A market crash like that would result in extremely broad layoffs, major global supply chain instabilities, and a cataclysmic knock on effect of capital losses into nearly every walk of life on earth.
Not to mention, as many already have, the federal govt would undoubtedly bail out the worst actors and leave the poor to fend for themselves.
Just yesterday the Treasury Department announced they aren’t going to enforce a money laundering law. You think they’re going to New Deal a major crash’s now? No way.