ckrob's picture
ckrob 8 years 31 weeks ago

Horace Cooper, on your Monday's BigPic, said everyone could get rich if they just threw enough at the stock market. My wife nickeled and dimed into the market for forty years. She lost half in the recent crash as she approaches the end of her working life. Next logically, if everybody is rich on market returns who is laboring to produce the wealth? The market functions on taking the lion's share of the value of production.

SueN's picture
SueN 8 years 31 weeks ago

It is difficult to know what is the best way to save for one's retirement, since all the markets seem stacked against ordinary people. As a general rulle I would say get out of the stockmarket several years before retirement, but I am no expert - it crashed too early for me to do that. The shares I had most of, because I had worked for the company and taken advantage of stock buying schemes, lost 90% and never recovered - in fact they were down 50% of the remaining 10% last time I looked. It is crazy that our money is invested in the stock market. It is not designed for it, unless it is to take our money from us.

Many people do not realise that unless you invest in an IPO, the money you put in the stock market does not go to the companies you are 'investing in'. The person you buy the shares from may take the money and move it into a tax haven; though they could be a retiree who spends it locally.

Speculative computerised buying and selling which rises the price may make a profit for the rich people who can do it, but just puts up the prices for everyone else - and if they are speculating in something people need, llike food, the end results can be starvation, riots, civil war.

It is far beyond time that we came up with a better system, one which focuses on investment into actual companies and reasonably safe returns for ordinary folk. If the rich want to gamble, let them do it at a casino, with no connection to any necessities.

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