theluckycountry wrote:....seriously, what these bankman freuds, these maddoff's do, is inconsequential compared to the total lifelong financial rape that the federal government commits.
Its pretty consequential to the million or so people who lost all their money at FTX.
theluckycountry wrote:How many people in america have worked all their lives paying taxes only to be retiring now with nothing but a puny SS pension. A pension I might add that will no doubt one day be revoked, or devalued into worthlessness by inflation. Then there are the millions with savings in the private pension systems, all at the mercy of Wall street types, of Elon Musk types who pump up their companies values only to sell out near the top leaving the small investor holding the bag.
You are right about that....but I wouldn't blame the "wall street types" or even Elon Musk for that. When it comes to inflation you have to put the blame on the federal government and in particular on Joe Biden and the Ds for their economic policies that have caused the current inflation that is impoverishing millions of people.
theluckycountry wrote:Tesla is down 70% from it highs, who owns that garbage today? Pension funds I'll wager,
Pension funds consist of accounts for regular folks....so actually it is regular folks being affected by the current stock market collapse. AND, there are many individual investors who own TESLA.....after all, it was one of the best growth stocks of the last decade.
theluckycountry wrote:The whole financial industry is a stinking morass and bankman fraud is simply a single fleck in a huge tub of human excrement. I say human because we humans created it, and it grows and festers because we participate in it.
You certainly are down on the financial industry.
In actuality there are good people and bad people in the financial industry----just like any other industry. Sam Bankman-Fraud is one of the really bad ones.
theluckycountry wrote: Real estate, Cash, Gold and silver is where my wealth has gone for the last 20 years. The rest of the world can play games paper and digital games, I want what's mine and don't put it into the hands of any of these greedy snakes.
Good for you. I'm glad you are happy with your own investment strategy.
However, other folks have different strategies and different ideas.....thats what make it all interesting.
Good luck to you.
Cheers!