Jerome Powell is the hero we need

… but the one we don’t deserve. Top 10% of America saw 6% of their wealth vanish. Top 1% of America saw 11% of their wealth vanish Top 0.1% of America saw 9% of their wealth vanish. Bottom 50% saw their wealth go up by 18% It’s simple really. Top 10% owned disproportionate amount of stock. When Jerome Powell said pain was coming, he was telling the top 10% that he will take the stock market down. Of course all these are percentages. If you look at absolute numbers, bottom 50% may be $4-6k up. Nothing worth writing home about. But the writing is on the wall. This is going to be a white collar recession. My predictions - growth stocks are 💩-ed on and they will continue to fall - small companies will be acquired by private funds and they will institute broads job cuts because they will do anything for balance sheet reduction. - job market will increasingly become an employer’s market. If you are not RTO-ing, you might be on the chopping block. TC: 198k + paper RSUs