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As I said above. Your typical Stock player doesn't give a flying "F" WHY the market is going up or where the dividends are coming from. They are just glad that it is.
The mentality of most people chasing returns in the stock market tend to believe in the unearned riches concept ("Hey I threw in a dollar. Now I demand ten back") and are usually very short sighted and only care about the next quarter and little more. It's a very hand-to-mouth paradigm. Sustainability, or, for that matter, legitimacy be damned. They want their dividend checks. This is why ol' Bernie got away with as much as he did. For all the swindles he orchestrated, he had no shortage of equally dreamy eyed "investors" lusting for those riches. As far as I'm concerned, they are all just as guilty as him.
Trust me. In America: ethics only matters when you are at church or any other venue where there is an audience present. The rest of the time, all bets are off and if you have to close your eyes and look the other way for a quick buck, then that's what you have to do.
i don't believe that for a minute. i believe that there are unscrupulous people who should be in jail and are not in jail, but i do not believe that they represent the majority of americans.
i do think that when the government starts playing "favorites" in such an obvious fashion, where our "representatives" brag about the "deals" they got, they do create a moral hazard which may have repercussions down the road. this could have all been averted by NOT bailing out the banks who gambled leveraged money unresponsibly, but i don't live in the past so we have to move forward on how to fix it now. the first thing we need is some PROSECUTION instead of bonuses.
what i would like to see is a competing market to the wall street market, where americans could choose to invest in companies that only represent american products and workers. if we have to see a wealth transfer, it would be nice to see americans leaving the global market and getting back into an american market.
Business is like politics in that the newcomers are full of hope and good intentions, after a while that gives in to the reality of necessity, and it is necessary to go along with the game as it has been established. This is also true of how our socio-economic construct is viewed by the young as opposed to the cynical views held by those who are veterans of the real world workings of the government and it's allies in the corporate elite.
I know that hope is in short supply these days, but as more people begin to see the oppresive nature of our stratified economy and social systems we may begin to get the change we're looking for. I for one don't have any problem connecting the dots between Wall Street and the White house. To think that one or the other is subject to the will of the citizenery is just wishfull thinking, over time that wishfull thinking gives way to the long standing reality that historians have documented so well.
Business is like politics in that the newcomers are full of hope and good intentions, after a while that gives in to the reality of necessity, and it is necessary to go along with the game as it has been established. This is also true of how our socio-economic construct is viewed by the young as opposed to the cynical views held by those who are veterans of the real world workings of the government and it's allies in the corporate elite.
I know that hope is in short supply these days, but as more people begin to see the oppresive nature of our stratified economy and social systems we may begin to get the change we're looking for. I for one don't have any problem connecting the dots between Wall Street and the White house. To think that one or the other is subject to the will of the citizenery is just wishfull thinking, over time that wishfull thinking gives way to the long standing reality that historians have documented so well.
Change will not be forthcoming as long as people align themselves along political/ideological lines with no concept of how they are being manipulated as victims of their own closely held beliefs. Political parties play to these beliefs and people are happy to be told what they want to hear. Thus, the voting public is divided and gridlock ensues. As the pendulum swings each political party gets their turn at the wheel. Whatever they do is blindly defended by their supporters, while the opposite party is demonized.
Martin Armstrong has some interesting thoughts on this.
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