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Wall Street Ripoff
Aug. 18th, 2011 09:45 pmThey're at it again. Last week wasn't enough, apparently.
So the markets drop like a ton of bricks while the radio is full of frantic advertisements trying to get you to "buy gold now" or "invest safely in bla-bla-bla." Folks, there are no such investments that are safe. All of that stuff is like pouring money into a casino. The house (in this case, the brokerages and agents) always wins, even as you lose. I think we've had quite enough of bankers walking away with millions of dollars in cash while our savings are frittered away uselessly. Just say no.
Bury your money in an old sock if you have to. It can't be any more risky than letting those guys have it.
Oh, and the latest news about inflation? Consumer prices rose half a percent in July. That's even after the government did everything they could to disguise the truth, fiddling and diddling with the figures and the way they are measured and calculated. Half a percent. Continued over the length of a year, that's an inflation rate of 6% which is NOT small and certainly is not a case of "no inflation" which is what Bernanke keeps lying to us about. There certainly is inflation, and even if it isn't enough to hurt millionaires, it is becoming quite painful for us ordinary folks.
All the answer we are getting is "Let them eat cake." Someone really is asking for very ugly things to start happening right here in the US.
So the markets drop like a ton of bricks while the radio is full of frantic advertisements trying to get you to "buy gold now" or "invest safely in bla-bla-bla." Folks, there are no such investments that are safe. All of that stuff is like pouring money into a casino. The house (in this case, the brokerages and agents) always wins, even as you lose. I think we've had quite enough of bankers walking away with millions of dollars in cash while our savings are frittered away uselessly. Just say no.
Bury your money in an old sock if you have to. It can't be any more risky than letting those guys have it.
Oh, and the latest news about inflation? Consumer prices rose half a percent in July. That's even after the government did everything they could to disguise the truth, fiddling and diddling with the figures and the way they are measured and calculated. Half a percent. Continued over the length of a year, that's an inflation rate of 6% which is NOT small and certainly is not a case of "no inflation" which is what Bernanke keeps lying to us about. There certainly is inflation, and even if it isn't enough to hurt millionaires, it is becoming quite painful for us ordinary folks.
All the answer we are getting is "Let them eat cake." Someone really is asking for very ugly things to start happening right here in the US.
