the US has fkn 670,000 federal workers furloughed without pay right now, plus about another 200,000 or so roles who are working but waiting on back pay.
These people are 32 days with no income, no 401k, no pension or IRA distributions. No expendable income for stacking sats or sports gambling.
This market liquidity is total shit.
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Whole market is propped up by 401ks
Check out Mike Green’s work on the systemic risks of passive investing
When these flows reverse watch the fuck out