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Stock market is self destructive.

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  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    The stock market by definition is supposed to provide funding for businesses. An economy deals with goods and services. The stockmarket is driven to make fees and in so doing has removed significant money from the economy. Wages are low, stagnant and falling in order to compete for jobs. More training and education ends up upgrading existing jobs by displacing less trained workers. There are no new significant jobs being created because the stockmarket is diverting money to fee producing gambling. No new jobs or pay raises because the stock market doesn't need industrial growth to make money. The stock market now manipulates money to create movement generating fees. The movement is caused by the derivative/futures market profiting from a gain or loss of a stock. The percentage for the fees taken is relatively small so that necessitates the amount of money moved or securing the move being astronomical. How can you buy both sides of a bet and make money? In the long term you can't and the cost ends up being inflation which causes a correction = crash in the stock market. Who pays for this elaborate disguised gambling addiction? 401Ks and all other innocent money entering the market daily. Everybody "recovers" in the long term is the general anesthesia . But the loss is disguised by investors not necessarily losing money overall but by making less money. There is real money taken from people and there are real jobs taken from people. But watching that stolen money appear in the life styles of the rich and famous is so absorbing that people don't realize it is their money putting on the show.
  • Independent
    Ft.myers, FL
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    A better word is "manipulation" ; analysts are coached by hedge funds to publish something "negative" or "positive" as it suits them. The "short" sellers jump on it and are not happy until they can ruin a company or make the hedge funds and the 1% rich. Indeed Wall Street is a corrupt white collar institute. Regulations don't help, because they always invent new loopholes.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Dutch Wrote: A better word is "manipulation" ; analysts are coached by hedge funds to publish something "negative" or "positive" as it suits them. The "short" sellers jump on it and are not happy until they can ruin a company or make the hedge funds and the 1% rich. Indeed Wall Street is a corrupt white collar institute. Regulations don't help, because they always invent new loopholes.
    The Commodities Futures Modernization Act made hedge funds above the rule of law. The repeal of Glas/Stegall made super hedge funds possible. Made 2008 possible. Made the ignoring of 2008 resulting safeguards fair play.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Duplicate post.
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Robert Reich posted this quote from the past on his Facebook page today:

    Quote of the day:

    “In church it occurred to me that it is time for the public to hear that the giant evil and danger in this country, the danger which transcends all others, is the vast wealth owned or controlled by a few persons. Money is power. In Congress, in state legislatures, in city councils, in the courts, in the political conventions, in the press, in the pulpit, in the circles of the educated and the talented, its influence is growing greater and greater. Excessive wealth in the hands of the few means extreme poverty, ignorance, vice, and wretchedness as the lot of the many.”

    -- Rutherford B. Hayes, President of the United States (1877-1881), born today, October 4, in 1822.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Schmidt Wrote:

    Robert Reich posted this quote from the past on his Facebook page today:

    Quote of the day:

    “In church it occurred to me that it is time for the public to hear that the giant evil and danger in this country, the danger which transcends all others, is the vast wealth owned or controlled by a few persons. Money is power. In Congress, in state legislatures, in city councils, in the courts, in the political conventions, in the press, in the pulpit, in the circles of the educated and the talented, its influence is growing greater and greater. Excessive wealth in the hands of the few means extreme poverty, ignorance, vice, and wretchedness as the lot of the many.”

    -- Rutherford B. Hayes, President of the United States (1877-1881), born today, October 4, in 1822.

    It used to be work long and hard to get a chance at catching the gold ring. Now that Bernie is blowing the smoke away it can be seen that there are only a couple of rings. Schmidt you said in another thread that "we can afford it". This world has enough resources and resourcefulness for everybody to be comfortable. Some minor changes in attitudes would be all that is needed to manage the resources into jobs instead of stockpiles.
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Yes this country has a lot of wealth and richness, but we also have very many poor people. I put a lot of blame on our Congress, and in particular, the Tea Party and the Christian Crusaders, who want to turn our country into a theocratic state led by some fascist like oligarchs. There are routine things that Congress used to do in a bipartisan way and one of those was funding our Highway Trust Fund. Rising the debt limit is another. And caring for our environment. Nixon created the Environmental Protection Agency and this brand of Republicans wants to do away with it...following the Koch brothers demands and "contributions to the cause". And rebuilding our crumbling infrastructure and putting skilled construction workers back to work would have been a no brainer under Reagan, but that was back then. The ideologically driven Republicans have one mission and that is to sabotage the Obama presidency. It is their No. 1 goal, country be damned. And beyond that shrink government: Quoting Grover Norquist,"I don't want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub." In other words a free market state without regulations and conrtrolled by the uber rich.

    The surrogates who follow their authoritarian leaders are always angry and woefully misinformed. However, they vote in large numbers. Liberals need to get more passionate and vote in large numbers.

  • Independent
    Ft.myers, FL
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    Schmidt Wrote:

    Yes this country has a lot of wealth and richness, but we also have very many poor people. I put a lot of blame on our Congress, and in particular, the Tea Party and the Christian Crusaders, who want to turn our country into a theocratic state led by some fascist like oligarchs. There are routine things that Congress used to do in a bipartisan way and one of those was funding our Highway Trust Fund. Rising the debt limit is another. And caring for our environment. Nixon created the Environmental Protection Agency and this brand of Republicans wants to do away with it...following the Koch brothers demands and "contributions to the cause". And rebuilding our crumbling infrastructure and putting skilled construction workers back to work would have been a no brainer under Reagan, but that was back then. The ideologically driven Republicans have one mission and that is to sabotage the Obama presidency. It is their No. 1 goal, country be damned. And beyond that shrink government: Quoting Grover Norquist,"I don't want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub." In other words a free market state without regulations and conrtrolled by the uber rich.

    The surrogates who follow their authoritarian leaders are always angry and woefully misinformed. However, they vote in large numbers. Liberals need to get more passionate and vote in large numbers.

    Schmidt absolutely right. I read an piece of you in which you complained about the "youth" not knowing anything. Sorry it is not only the youth; just look a FOX news, just like they have brains. Your last line says it all, but you are forgetting who has the money and "indoctrination" adds to push their agenda. I doubt if many of the rich will vote democratic; so as always the one's with the biggest money collected wins. It does not matter if hoards of Democrats vote; just get some hanging "chads" like in FL and they still get it their way. Sorry there are plenty of tricks in the hat which will be played until the bitter end.