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Thanks for posting that video.
It shows so clearly the complete disdain shown by the elite towards those of us that haven’t made millions by cheating others…
Karma is a bitch, and those arrogant asshats will eventually run out of bubbly and have to climb down from that Ivory Tower!
Gotta love that female dog that toasted the camera…she won’t go to hell, hell is coming to her!!!
am I the only one in America who doesn’t see wall street as the enemy of America?
I’m a capitalist, so no, I’m with you on that.
Apparently you didn’t have a portfolio with a significant amt. of money in it prior to 2007. As a Finance major from AU(not a big deal I know), American’s have so much cause to hate Wall Street for playing so fast and loose w/ their hard earned money that in many cases had been accrued over multiple generations.
So if you didn’t have anything stolen from you, it’s hard to really be mad.
Politicians have an equal part in this as well, but this thread is for shitting on wall street and the traders who turned it into a game of speculation.
No, you have lots of company…
Bush, Cheney, Bernanke, the Rothschild family, etc.
They all think that Wall Street is the greatest thing ever!
It’s a bad system, but it’s better than any other by a wide margin.
Yes, it takes some moxy to sip some bubbly- but I would have thrown some Dolly Madison cakes.
You want to see the system and country we’d have if the protestors had their way?
Really. My generation needs to pull their head of their ass and take a long hard look at the rest of the world before they vote our country away. Teachers need to start teaching how to think, NOT what to think.
The problem is that people apparently link Wall Street to Capitalism. It’s not capitalistic when you rig the f**king game so that only a few people can win.
Wall Street today is Disaster Capitalism at best!
What are the alternatives?
We do not have a free market, but Wall Street could not do what they do without government aid. The government aids through a corrupt tax code among other ways.
The best alternative to what we have now is a free market.
Nope, not at all.
Nothing is without risk and a lot of people forgot that because they were too busy building their portfolios and ignoring the potential risks. The same with real estate; people were happy as long as they could flip a house and make money or buy a house obviously outside of their means, but when it dried up and they lost their asses it’s the banks fault they didn’t read the fine print in their contracts. I don’t recall anyone poo-pooing when they were making cash from Wall Street and real estate.
That’s correct, however we will never see a free market in this country with the current political system we have that includes so many politicians getting handouts from corporations and their lobbyists.
Wall Street could never have become what it has without explicit permission from our elected politicians and government.
eta…someone posted above me and my reply was intended to follow the one from Abraxas.
Or, perhaps we should reconsider the American love affair with the free market entirely.
Neither Socialism or Capitalism are workable systems, as history has shown.
What we need to consider is a totally different system yet, a system that does not prosper by stealing from others.
The problem is that ultimately Capitalism is the same as Socialism. Both systems are in place to benefit someone other than the individual. Both systems make someone higher up the food chain than you richer and more powerful.
100% correct. Protesters and liberals are often correct that there is a problem, they just don’t understand the best solution.
Medical care is a perfect example. Something IS wrong with the way it currently operates, but these folks think that more government is the answer.
These folks have lobbied for and created a system where there is absolutely no incentive to save, in fact you’d be foolish to do so. They have created a system where people will either spend every dime they can, and put the rest into stocks. Investing isn’t a bad thing, but bad decisions are almost always made(and profited from) when you are forced to invest into something or risk inflation outpacing your 0.X% savings rate(which it will.) Want to not be in the poor house when you grow old? Invest in our stocks/funds. It should be “invest in something you have knowledge of,” or “invest in something with a good P/E ratio and good dividends.”
So do I agree with the protesters? Hell no. They’d bankrupt every brokerage and kill the marketplace if they could. But there IS something wrong.
ETA: I finally watched the video…and all I can say is that’s awesome. Kind of in poor taste and all that, but “absolutely baller” came to mind nonetheless.
I agree…but the large investment firms and clearing houses have created a system where people don’t have realistic alternatives.
I don’t disagree with you, but in my opinion that is why people should have been more cautious; especially if the money they were playing with was money they needed.
I’m definitely not a money wizard, but I will say I wasn’t significantly hurt by either the Wall Street or real estate crash and today I’m doing better financially than 5 years ago. I don’t really want for anything and buy what I want when I want it. The only thing I can credit for that is my caution and apprehension at believing the whole “you can’t go wrong” mantra that seemed to be all the rage until everything crashed.
“Stealing” from others? Really? Grow up.