Wall Street Ripoff

[altivo]

They'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.

Comments

[avon_deer]

Nah..people are sheep, and will continue to be. One only had to listen to the bleating of people here stamping down on sociologists who tried to hammer into their heads that there just MIGHT be a social reason behind the riots.

We just lay down and take it up the arse, and will continue to do so regardless of what happens. Our great-grandparents genertaion, the people who included Emmeline Pankhurst, Michael Collins, Ghandi et al would be ashamed of us.

Weak willed, selfish supine bunch of frightened sheep. Wall Street know this, the government know this, and deep down we know this as well. Even I have stopped sticking my head above the parapet these days. When was the last time you saw a politcal post from me?

[altivo]

I refuse to be a sheep. And I've often been the one to point out that the emperor has no clothes on. I won't stop now.

Of course, getting anyone to listen is sometimes a problem. It's superbly satisfying to have them come to me months or years later and say "You were right all along," though. That has happened more times than I can count at this point.

[avon_deer]

That has not been my experience. This country (and my peer group) seem to be getting more right wing as the years roll on rather than less. I do hope I can get my confidence back one day, but right now I feel very alone indeed.

[altivo]

Come now. You clearly know that you're rightcorrect. How can there be any question of "confidence?"

Greed (and the false belief that the "system" will allow anyone to gain wealth who doesn't already have it) are the only excuses for the rightward decline in politics. Those are pretty damn poor excuses. Of course, the brainlessness of some liberals doesn't help, nor does the spinelessness of others. But there must be some leaders out there.

[avon_deer]

I do hope so.