The thing is, if you are a billionaire (as Bessent is), a stock market decline is not a concern for your ability to live comfortably when you retire.
Its an opportunity to snap up more wealth at a discount.
Its an opportunity to snap up more wealth at a discount.
Reposted from
FactPost
Host: 62% of Americans own stocks. How can the White House not be concerned about Americans' 401ks?
Bessent: I'm not concerned
Bessent: I'm not concerned
Comments
While not printing others some dollars
https://bsky.app/profile/nathantankus.bsky.social/post/3lkbcok4hxk2t
It depends on how much of his wealth is tied up in securities. These people don't have billions of dollars in cash in a vault somewhere like Scrooge McDuck. It's tied up in various assets.
They're not going to starve but 'crash good for the rich' is naively simplistic and wrong.
Other folks don’t
Do they not think the pitchforks will be coming for them?
Do they not own history books?
Apparently not, so…I guess they need to be taught a lesson every hundred years or so.
That’s when we’ll hear the supply side nonsense, the stuff about makers and takers.
Of course the billionaire isn't concerned about much, now is he?