The Rip-Off Economy Will Save Itself; It Won’t Save You

Source: In These Times
by Hamilton Nolan

“As the stock market began to soar during the pandemic depths of 2020, fueled by stimulus money, an entire generation of Americans began day trading, convinced that the rising tide would lift them into a new boat. After a jarring market drop this week, it was calculated that all of those day traders have now given back all of the collective gains they made in that dreamy two-year window of unreality. The meme stocks have fallen back to Earth. Crypto prices are plummeting, as the existence of real risks like inflation and war have begun to make people rethink the wisdom of pouring their savings into assets that do not, strictly speaking, exist.” [editor’s note: Cryptocurrency exists as much as — and more independently of government manipulation than — the US dollar – TLK] (05/12/22)