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AlexandraErin's profile
Alexandra Erin
Alexandra Erin
Alexandra Erin
@AlexandraErin

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Alexandra Erin

@AlexandraErin

Alfie Award-Winning Author/Commentator She/Her Nonfiction: http://alexandraerin.substack.com  Fiction: http://patreon.com/alexandraerin  Query: blueauthor@alexandraerin.com

Hagerstown
patreon.com/AlexandraErin
Joined February 2007

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    1. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      I'm less interested in how many billions the billionaires have "lost" (the day-to-day value of their holdings on the market is down) than I am about how many small businesses have cut staff and hours or folded. The one's a barometer, the other is actual impact.

      1 reply 136 retweets 542 likes
      Show this thread
    2. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      Like people who cheer whenever Tesla or Facebook stock dives because the geniuses said/did something iffy and the headlines say the CEO "lost exty zillion dollars"... no one's going to Muskerberg's house with a dump truck to confiscate cash.

      2 replies 8 retweets 60 likes
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    3. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      The other thing to keep in mind about widespread market woes is that a lot of institutions (educational, medical, charitable) keep some of their holdings in funds that offer a better growth rate than interest on savings.

      1 reply 10 retweets 58 likes
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    4. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      When Bernie Madoff's ponzi scheme was exposed and fell apart, there were school foundations and things that suddenly found themselves destitute. And to be clear: nobody should have vested their money in him.

      1 reply 5 retweets 44 likes
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    5. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      His promises were obviously garbage, the returns he advertised were ridiculous, and numerous people blew the whistle via direct knowledge or simply pointing out that nothing about it added up.

      1 reply 4 retweets 32 likes
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    6. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      I'm just saying. If you have trust of several hundred thousands or millions of dollars for an institution, it's normally seen as the responsible thing to not put all of those eggs in one basket. A diverse portfolio, so the money will grow but ideally in a stable way.

      2 replies 4 retweets 31 likes
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    7. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      And when the whole market is going down all at once... okay, in theory, barring actual apocalypse, it's going to go back up. But in the meantime you have far less room to take money out to use it for, say, a big planned expansion.

      1 reply 3 retweets 30 likes
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    8. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      And while the damage to the 401k of someone in the middle of their working years looks scarier than it is, there are people who are already in the years they were counting on livin off them.

      2 replies 5 retweets 46 likes
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    9. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      The story of an economic downturn is not that Nelson Rockefeller has less money for tophats or Elon Musk has to put off his vacation to the 1:1 model of Paris he's building in his backyard.

      1 reply 5 retweets 41 likes
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      Alexandra Erin‏ @AlexandraErin 9 Mar 2020

      We can't achieve economic equality through a falling stock market, because every downward step represents damage to working class people, to business owners, to institutions that serve us, etc., more so than to the billionaire class.

      1:05 PM - 9 Mar 2020
      • 13 Retweets
      • 69 Likes
      • Cyrus @ vax adventures, or advaxtures Queer Witch Felicia DesJardins Carl D. no gender only swag Maeve🍀and🍀Morrigan🍀 Bridget Kit Stubbs, Ph.D.
      3 replies 13 retweets 69 likes
        1. Alexandra Erin‏ @AlexandraErin 9 Mar 2020

          An economy is an ecology. Everything's connected.

          3 replies 9 retweets 54 likes
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        1. New conversation
        2. Rob Sheridan‏Verified account @rob_sheridan 9 Mar 2020
          Replying to @AlexandraErin

          Super cool that market crashes are the only time Trickle Down Economics actually works

          1 reply 1 retweet 13 likes
        3. Alexandra Erin‏ @AlexandraErin 9 Mar 2020
          Replying to @rob_sheridan

          Privatized profits for public risks.

          1 reply 1 retweet 13 likes
        4. Show replies
        1. New conversation
        2. Veleda_k‏ @veleda_k 10 Mar 2020
          Replying to @AlexandraErin

          Right. No billionaire is going to feel this market fall. That's what it means to have a billion dollars. You can lose 15% of it over night and it makes no difference to anything about your life.

          1 reply 0 retweets 2 likes
        3. Akabanes_vaccinenuggets‏ @Fanged_ShuiX 10 Mar 2020
          Replying to @veleda_k @AlexandraErin

          #EatTheRich

          0 replies 0 retweets 0 likes
        4. End of conversation

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