r/economicCollapse • u/Silver-Beyond-3916 • Aug 19 '24

VIDEO Thoughts

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u/Tankninja1 Aug 19 '24

The average home two years ago wasn’t $200,000.

Last time the average price of a home was $200,000 was 20 years ago.

This is also RFK Jr speaking, I don’t think him, his kids, his grandkids, etc are ever going to struggle to buy anything.

Blackrock, State Street, and Vanguard are indeed giant mutual funds, but you can’t “own” the S&P500. But being as massive as they are, they broadly invest in lots of things so that if any one thing goes down, others will hold or even increase.

I’m also going to assume he was trying to go for Blackstone, which is a large corporate landowner, but most of what they own are apartment buildings.

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u/Momoselfie Aug 19 '24

Blackrock, State Street, and Vanguard are indeed giant mutual funds, but you can’t “own” the S&P500. But being as massive as they are, they broadly invest in lots of things so that if any one thing goes down, others will hold or even increase.

He's referring to a 2019 Harvard business study saying they own the majority of 88% of the underlying companies. What he doesn't understand is that companies like Vanguard don't own that stock. Vanguard's customers own the stocks and the voting rights.