Cash is tight because high income earners can invest in things and when the market is shit (like it is now) its hard for them to liquidate their investments into cash.
However, for most high income earners, this situation is temporary and they're never really at the risk of homelessness or starvation. Contrast this with how the shitty economy is impacting people already struggling with poverty and... yeah.
its hard for them to liquidate their investments into cash without taking a loss.
But if you were in the market back in 2015 (or 2005 or 1985), you rode a cresting wave with a few marginal dips. If you graduated college in 2018 and started throwing all your money into the latest Crypto fads you're a bit more fucked. But if you never had money to invest to begin with...
Its funny. I've seen particularly poor people refer to their tattoos as their wealth. And when I dug in a little, what I got back was simply that tattoos can't be repo'd. They're something of value someone else can't take away. This echoes a horrible truth about living in poverty. It isn't simply that you're "living paycheck to paycheck" but that every effort you make to stockpile a reserve exposes you to an accrued risk of being robbed. It's like the old "Marshmallow Test" to determine future success. People who are chronically anxious and deprived will grab the marshmallow for fear of losing it. People who have the luxury of trusting authority can wait.
But if you were in the market back in 2015 (or 2005 or 1985), you rode a cresting wave with a few marginal dips. If you graduated college in 2018 and started throwing all your money into the latest Crypto fads you’re a bit more fucked. But if you never had money to invest to begin with…
True, though lots of people with market brainrot think of those gains as money they've earned. Selling at a loss is, to them, no different than giving money away on a bad deal.
No it's not.
Being a top earner literally means you're among those for who cash is the least tight.
Cash is simultaneously tight and not tight for top earners. Schrodinger's cash, if you will.
Cash is tight because high income earners can invest in things and when the market is shit (like it is now) its hard for them to liquidate their investments into cash.
However, for most high income earners, this situation is temporary and they're never really at the risk of homelessness or starvation. Contrast this with how the shitty economy is impacting people already struggling with poverty and... yeah.
But if you were in the market back in 2015 (or 2005 or 1985), you rode a cresting wave with a few marginal dips. If you graduated college in 2018 and started throwing all your money into the latest Crypto fads you're a bit more fucked. But if you never had money to invest to begin with...
Its funny. I've seen particularly poor people refer to their tattoos as their wealth. And when I dug in a little, what I got back was simply that tattoos can't be repo'd. They're something of value someone else can't take away. This echoes a horrible truth about living in poverty. It isn't simply that you're "living paycheck to paycheck" but that every effort you make to stockpile a reserve exposes you to an accrued risk of being robbed. It's like the old "Marshmallow Test" to determine future success. People who are chronically anxious and deprived will grab the marshmallow for fear of losing it. People who have the luxury of trusting authority can wait.
True, though lots of people with market brainrot think of those gains as money they've earned. Selling at a loss is, to them, no different than giving money away on a bad deal.