My Dad’s unprompted comment about stonks last night:
“they just need to figure out a way to keep them stable!”
Ahh yes the ever-present and omnipotent force of “they” being called on to keep equities “stable”. I come from good stock 🧠😂😭
Discussion
🤣🤣🤣
I couldn’t even think of shit that stupid if I tried 🤣🤣
My dad has worked his ass off his whole life. Was nearly wiped out by the dotcom bubble, got hit hard in 2008, and is now getting hurt by the market fluctuating.
I feel awful for him, but this is what happens when an entire generations idea of saving is purely speculative.
I understand the impulse to want “them” to fix it, but “they” created the problem in the first place.
Even on a sound money standard equities will always fluctuate in price to some extent, that is the point.
They’re a forward looking product that the market determines a price for.
Lmao. How do you even respond to that? I probably couldn't.
I mean the first thing I did was bust up laughing reflexively.
But then I just tried to explain that stonks can’t be stable and that bids and asks determine the price of an equity. And that the price is always being updated by the market in real time depending on a bunch of factors including the company’s performance and outlook.
He kind of got it but still thinks government should figure out a way to make them more stable 😂🤣 these moments still blow my mind somehow
It’s funny but he’s right- the government can stop printing money and that would (eventually) make prices more stable
Community, Identity, STABILITY 💀
