Tuesday, February 04, 2014

Why I hate Wall Street


I am part of the 98% massive middle who in the 90's got mesmerized and hoodwinked by Wall Street into thinking I too could be part of it. My father was a small business owner. When I asked him why a certain uncle of mine was in the market and we were not he said because the market is not meant for people like us. It is meant for those like your uncle with big money who could stand to take the inevitable downswings of the market which were as sure to come as rain.


His generation made money, saved it with his goal in retirement, to live off the interest from banks where his savings sat.  Then something happened. Bank interest became golnished (translation: nothing, zero, little, nada.) Why?  good question.  When his generation passed on and I became part of the working massive middle what the hell did I know about the market? But forces larger than I -- the big corporate owners of me -- persuaded me that 401Ks were the greatest thing since sliced bread and the wheel because no longer could anyone make anything from interest savings in banks. They ably persuaded me to be a part of Wall Street investment schemes and risk because, well, they could and frankly I was dumb to the machinations of the market. Moreover, because I hate math so much I never became acquainted with market reality. I loathe it to this day.

Chunks of my hard earned (VERY hard earned) bucks went to ensure my future economic position in life but what it really ensured was that through 2007 the market would become a Madoff-like scam where the big boys made billions and the little guy ended up with bubkas (translation: nothing,) losing much, and/or penniless, homeless on the street or in one's car. As the Life of Riley sitcom used to say "What a revoltin development this is."

So wait it out I did despite the Great Recession rape of the middle class and yet again I am a punching bag for the Wall Street seesaw and its big boy players. Why god damn it am I every single lousy day of my life going onto the Dow to look in terror of what it is doing to my life next?

I am not asking anyone to do anything but simply reiterating my frustration and the mantra: Father knows best! He was right. The market is not for me or for anyone really who are members of the 98% but it's too late now I bought into the snake oil. We are making the 1% billionaires and there is not a damn thing we can really do about it not even elect those who would represent us because to get elected they need the billionaires' bucks. As the great George Carlin said "It's a club and you ain't in it!" Retired, early due to disability, I feel like I am in jail and someone threw the keys away. No strike that. Someone stole the keys, bought a boat and is living comfortably in the Bahamas. Just my opinion.