Money looks at the matter, talking to Michael Lewis. He was in insider, it is said.
Well, I am an outsider and ask why we need this insanity (I know, people like Cramer make a mint of money playing the system). Not only is it rigged, it is a chimera. Meaning what? Only a fraction will get the promises. The whole design is to milk the little guy.
60 Minutes talked to Michael and another guy who brags on beating the high-frequency people at
their own game. Big deal. Well, I should say, big money.
But, the issue of the Bens and the Janets feeding this crap shoot remains to be discussed rationally. Too, the whole framework is suspect from the get-go, except for those who are benefiting from playing the game.
The 60 Minutes guy mentions front running. Well, there was an agreement that we now have something like that. Yes, change the name and computerize the thing, then, it's okay? Remember Made-off (Bernie)'s little gimmick?
House of cards. Does it need to be that way? No.
Remarks: Modified: 03/15/2015
|-- Most will not get their's. That is the whole scam which has been played time and again (and the poor souls coming in now will take a bath soon). The thing is to keep the people happy during their work years so that they keep ponying up. Then, when it comes time to draw out, what they get is not what was expected for the most. Why is this not understood?|
The analog is what we're seeing with the un-kept pension promises.
Oh yes, some get and get big. That is the dog and pony part (ignoring that the elephants who run the system rake it in all along the pike) of this thing. Put forth enough examples to keep people's interest up. Oh yes, my 401K is up; I'll be a rich man someday the little guy thinks (ah yes, let's see what you really get).
Some get big. Most get less (much less). Many get naught. The worry of the boomers all trying to draw out, at the same time, are very much real even if the thing wasn't rigged, and the leeches were not sucking out feed, and those who run the system weren't pulling off the cream.
How can so many smart people buy into this crap? Ah yes, get it while the getting is good. Why did Ben (and now Janet) put so much effort in keeping this beast alive?
|-- The middle class always gets screwed. The early sellers take the pie; the rest eat the crumbs. Time and again.|
Somehow, this whole house of cards has been given credence by appealing to Adam Smith and others. Now, with the computer, it is even more of a problem.
All the while, we have a whole set of underpaid people putting themselves and their lives on the line for this type of chimera, thinking that down the pike, they, too, can get their just share (and then find cuts due to budget concerns and such).
Was anything learned from the last go-around?
03/31/2014 -- So, Yellen is supposed to keep slapping the savers silly while the monsters play in the so-called market, essentially screwing the public royally.
04/01/2014 -- Yellen's defense of the Fed is hot-air, but then the markets are inflated from such. Yellen says that many see a recession still in place. Yes, only the market manipulators are rolling in the dough. Yellen goes and talks to the small folks. But, has she ever met a saver? Perhaps, she would rather have people spend even if it's from debt (an ever-growing onus than entraps people and their families). Ah, Yellen is worse than Bernanke? She must know that the training wheels have to come off for the markets to grow up and to become less addictive to Fed largess.
03/15/2015 -- Finally, getting around to the pending business.