Comment on How is the Stock Market keeping it's value after *points to everything*?
ShepherdPie@midwest.social 2 months agoThere’s also just the denial phase.
As evidenced in The Big Short when it was very clear to banks and regulators that the whole mortgage shell game was falling apart and they all refused to act on it.
MyNameIsIgglePiggle@sh.itjust.works 2 months ago
See, now I have had a few things pegged as being in the denial phase for a while. I’m in Australia, so the housing market I have had pegged to collapse, also I figured we would be heading into a recession coming on 3 years ago and changed businesses to “weather the upcoming recession”
Now while things have cooled off since then, and I still think both elements are overcooked, I obviously moved way to soon.
So my question is, how do you time the denial phase? The housing market issue has been going on for about 30 years from what I can tell (though it got more reasonable for half a minute a bit over a decade ago and then went stupid again).
In my lifetime, and I’m 40 now, I haven’t seen a proper major correction where bad decisions and greed was punished. I should have been “taking stupid risks” the entire time and I would have been just fine.
ShepherdPie@midwest.social 2 months ago
I don’t have an answer to any of your questions and I don’t think many others will either. It seems like one of those things that you look back at with the clarity of hindsight in order to map things out.
abigscaryhobo@lemmy.world 1 month ago
I mean that’s part of the thing right? “Who dares wins” is a great mantra until you lose. Nobody can predict the future so a lot of times the greed carries out until it’s literally irreversible. That’s why it’s so important to have people on the other end defending from the greed, from the people that will hoard and take until they die on their pile of gold.
At least for the US there is always a feeling of doom and worry and “it’s going to pop” but until it actually does, the greed will continue to take. That’s part of the system for better or worse. It can’t be stopped, but defending the people from the repercussions of that greed is what we have to do.
There’s always someone that will try to bring too much on the lifeboat. Rules are needed to stop them from sinking the whole ship.