this post was submitted on 19 Mar 2025
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Stock market crash means a lot of people lose their jobs, including people living paycheck to paycheck
I think the point is - scary threat isn't scary, because such people already feel the constant threat of poverty every day. Being regularly pumped full of cortisol over worries of simply surviving, there are no fucks left to give when additional threats are piled on.
Yeah, but a lot of people were being laid off before as well, weren't they?
Yes, but it’s significantly worse in an actual market crash.
People suck at gauging risk. The only question is whether people have to deal with the threat of losing their job or not. Nobody thinks "how safe is my job in quantitavie terms", it's more "do I feel my job is safe". More people may flip on the second in a market crash, but it doesn't change anything for already insecure people.