Post #4361561

Because a rising stock market only really helps the wealthy, people tend to think that a collapsing stock market only hurts the wealthy, but this is not at all true. Yes, in 1929, many millionaire financiers (tho by no means all) went bust. But by 1932, a quarter of America's families had not a single full-time wage-earner. Some families lived in caves or sewage tunnels. And when you're rationing food & shelter, you're way past rationing health care.