Discussion

Modern wealth is a parlour game played by the well fed

gruez: So let me get this straight:Market goes down: "grr... this is just a dastardly ploy to further wealth inequality because the rich can buy stuff on the cheap!"Market goes up: "grr... this is just a dastardly ploy to further wealth inequality because stocks are overwhelmingly held by the rich!"

jayd16: You joke buts not like those are exclusive at all.For example, pump and dump schemes have both an up part and a down part. Not hard to understand things can be manipulated in either direction to benefit a specific group.

gruez: >For example, pump and dump schemes have both an up part and a down part. Not hard to understand things can be manipulated in either direction to benefit a specific group.The pump and dump analogy doesn't really work because the crash associated with the "dump" isn't something that the organizer wants, nor do they benefit from the crash. It's just an unfortunate side effect from them cashing out and the truth catching up to them. Meanwhile the OP argues the opposite, claiming that companies knowingly made bad loans to create a crash, which implies more nefarious behavior than the standard explanation of bubbles caused by irrational exuberance. The latter is a conjecture that's not supported by any empirical evidence or even anecdotes.

brodouevencode: Feels like the author is having some sort of existential crisis.