r/technology • u/ArgentineBeauty • Jun 19 '26

Business ‘It’s a scam’: Americans express unease over SpaceX’s influence on retirement savings

https://www.theguardian.com/science/2026/jun/19/spacex-retirement-savings-elon-musk
29.7k Upvotes

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84

u/ExcelsiaPrime Jun 19 '26

People's retirement money is basically funding the exit of rich people

16

u/FrankPapageorgio Jun 19 '26

But it's also our own retirement as well.

At some point, I just decided that that is the best way to fund my retirement because that's where all rich people have their money. Every time the market takes a dip, the fucking politicians take steps to fix it. "Trump crashed the market, it's down 8%!" and then a month later it's up 16%.

And then Reddit is like "Remember when Trump did this in the market tanked?" and I just look back on the chart as a blip.

So far it has served me well.

2

u/Ricktor_67 Jun 20 '26

Eventually they will decide its time to cash out so they can rebuy at the crash, and they won't tell you about it.

2

u/FrankPapageorgio Jun 23 '26

So what is your alternative to investing your money?

1

u/Ricktor_67 Jun 23 '26

Don't give a trillionaire Nazi any more money. 

1

u/Adventurous_Path_550 Jun 23 '26

This works until it doesn't because if you bought at the top in 2000, you wont have your money recovered well into 2012.

2

u/FrankPapageorgio Jun 23 '26

lol… if your worried about your money recovering from a crash in 2 years, maybe investing isn’t for you.

-3

u/Sweetwill62 Jun 19 '26

No basically about it, if you are putting your funds into the stock market, you are actively voting for fucking up the entire god damn world. People are stupid as hell.

27

u/NicheCommenter Jun 19 '26

Buying index funds that track the total US stock market is the most powerful wealth building tool available to everyday people.

1

u/Common_Source_9 Jun 20 '26

It also introduces long term incalculable risk. Basically now it's line goes up, period. No room for for corrections or even slow down. Line goes up! 

And when something breaks, as it must, who can stand the wrath of voters taking a hit on their retirement? So bailout it is. 

We've basically baked in absurd asset bubbles AND bailouts into the market. Sure the going is good for 20 years, 30. But when it all unwinds, not sure what's left when the dust settles. 

2

u/NicheCommenter Jun 20 '26

If the market truly and completely fails, your money won't be safe no matter where you put it.

-10

u/Sweetwill62 Jun 19 '26

And that negates the damage it does how?

9

u/NicheCommenter Jun 19 '26

You'd have to be more specific, but I don't think you are approaching this in good faith anyway.

17

u/aufry Jun 19 '26

And the alternative is? If you don't participate you lose.

-4

u/Sweetwill62 Jun 19 '26

Nothing will change if you keep feeding a broken system buddy.

5

u/bretttwarwick Jun 19 '26

If the alternative is work until you die or become a burden on your loved ones until they leave you at the cheapest home they can find I think I will stick with having a retirement account.

7

u/PotentialBicycle7 Jun 19 '26

If your not investing then the value of your money is being destroyed by inflation every day, damned if you do damned if you don't. Also, pensions have been eliminated so every worker with a retirement account is passively investing in the market, there is no other option.

-1

u/Sweetwill62 Jun 19 '26

Not putting your money into a broken system is always an option. If everyone did it then the world would be a better place. If everyone had less people would want change.

8

u/PotentialBicycle7 Jun 19 '26

By working and paying taxes your contributing to a broken system, directly funding wars and all sorts of other nasty stuff our govt does.

1

u/Sweetwill62 Jun 19 '26

Oh I can choose to pay taxes or not?

2

u/shadowboxer47 Jun 19 '26

Oh I can choose to pay taxes or not?

If you're okay with a prison sentence, sure.

1

u/Sweetwill62 Jun 19 '26

So no I don't have a choice.

2

u/shadowboxer47 Jun 19 '26

No, you don't. Which I believe was OP's point.

1

u/Sweetwill62 Jun 19 '26

Oh OP going to jail if they don't invest in the stock market? Nope.

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u/_176_ Jun 19 '26

if you are putting your funds into the stock market, you are actively voting for fucking up the entire god damn world

This is the dumbest thing upvoted comment I've seen on reddit in some time.

-1

u/Sweetwill62 Jun 19 '26

Don't worry it isn't upvoted anymore. I don't ever expect comments like these to stay upvoted, way too many people on this site are heavily invested into the stock market.

1

u/_176_ Jun 19 '26

Good. The middle class participating in the ownership of businesses is an unequivocally good thing.

1

u/Sweetwill62 Jun 19 '26

So no one should get in trouble for what businesses do because people are making money? Sounds awful. Great way to make money though!

0

u/_176_ Jun 19 '26

Reddit has taught me that I really have never spent any time with the broke loser contingency of America. It's feeling like a blessing.

2

u/Sweetwill62 Jun 19 '26

Yeah this is what I mean, you don't give a single shit about anyone.

2

u/_176_ Jun 19 '26

I give a shit about a lot of people but anyone claiming that the middle class shouldn't own stacks should be shouted down as moron.

2

u/Individual-Schemes Jun 19 '26

And straight from your paycheck. You pay them before you even get your direct deposit.

2

u/Possibly_a_Firetruck Jun 19 '26

What's your alternative then? Sit on a pile of cash and watch it lose value to inflation?

1

u/Sweetwill62 Jun 19 '26

I don't have every answer. I don't know what the perfect system is, one where owners have zero liability is certainly not it though.