The Stock Market Racket (August 24, 2015)

. . .

I1          “The stock market is not a market, it is a racket.  The Stock Racket, I call it.  The Racket does not provide much financial security.”

I2          “And I too am a hostage to that Racket.  I am now at a stage and an age when I am told to avoid risky investments and to move toward less risky instruments, yet those who make the economic rules eliminated that time-honored option.  I receive nothing to put my money in the bank and take less risk.  I have faith that I will receive nothing at the end of the day to take huge risk in the Racket.  I am forced to keep one foot in the Racket in a desperate bid to obtain some upside yet now see the decline that I expect.”

I1          “I don’t call that traditional financial security.”

. . .

I2          “Those who run the defined benefit pension plans are playing the Racket.  When the Racket collapses, I will be forced by the courts to fund the short fall while living with little or no pension.”

I1          “I don’t call that traditional financial security either.”

. . .

[See the e-commentary at Party Like It’s 16,919.99 (May 19, 2014) and “Titters” v. “Self-Unemployed” (September 1, 2014).]

Bumper sticker of the week:

The Stock Racket

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