[shimman]

Congrats, what about the other 80% of Americans that can barely afford rent and pay for healthcare? Fuck them right? As long as your shares go up, people must die.

What a great economic system with great morals that create moral societies.

[JuniperMesos]

Increasing FAANG stock prices actually make it harder for me, personally, to afford housing - because I live in the bay area where all the FAANG companies have major offices and when people with lots of FAANG stock get richer, one of the things they spend it on is buying housing in the bay area, bidding up the price of that limited resource for everyone else. Building more housing in the bay area would help with this, but there's a lot of local political pressure not to do that; and this is a bay-area-specific problem because of the physical locations of (most of) the FAANG companies.

Anyway a lot more than 20% of Americans are beneficiaries of some kind of pension or 401k or other source of income that is ultimately funded by the US stock market. And shares of the US stock market going up do not kill people who aren't having part of their income funded primarily by the stock market. People who think this is true and that society is therefore immoral badly misunderstand what the actual problems with producing goods and services for people are, which is the thing that actually matters for human health and flourishing.