angry banker· Registered
Lambos are in fact standard-issue cars for crypto millionaires and get-rich-quick types (unfortunately); these are the individuals who've suffered the most in this pullback. Amazon is trading at pre-pandemic levels, the entire FAANG index is down almost 40% YTD actually. The average Pagani owner might not bat an eyelid but most people now finance Lambos which often means their dry powder isn't unlimited and they're just 'wealthy' as opposed to having FU money.Slow down maybe, recession I'm not sure. I'm not talking about everyone but many people are making more money than ever working from home and that's good news for my biz at least.
I'm still perplexed why anyone worries about a recession if they can afford a Lambo.