Markets just spoke loudly
- Thread starter NY_HOOD
- Start date
You are not serious! The people were played in both cases. The people "democratically" elect governments to run their country. They do not have a say in the bills these governments pass. People cannot regulate the Banks, and mostly they are not fairly informed/educated, thus are not responsible for falling in these traps. The majority is not qualified to make the objections on their own. They elect governments to protect them from these situations.
Of course Obama isn't the only man to blame here, but a certain elite is! Certainly NOT the people.
If there was a real participating democracy in the US and other western and european countries, then YES, we would be able to blame the people of USA as well as the ones of Greece for the European debt. But this is all chosen for them, not by them. But whey will pay for it in the end...
This is not a political view, but a social one btw.
I am sorry, back to the point...
1. Where'd the point and a half gap on SPY come from, Hood?
2. WHO capitalized upon it?
3. Do you know WHO you trade against?
4. Wasn't "thee market" concerned about a debt downgrade last week?
Last month?
5. Fitch's already downgraded. BFD.
Let me reword that... The Majority of the People ARE the Government.. How else can they be so accepting? Either due to comfort (bribe),,.. or Low intelligence to understand what is happening.. especially when the required intelligence is of History that few have the slightest appetite to study. The people get the Government they deserve.. The Government is made up of a "representative" sample of Americans right? (sarcasm..)
Example: I am Nigerian.. THE place that invented corruption.. So I know what a backstabbing Government is like. Guess what?? Most of the Population there is corrupt.. right after complaining of corruption.. They feel they have no choice (military infiltrated Govt years ago so coups are so 70's) but still THEY are or have become just like their Government. NOBODY will make the sacrifice to effect change.
In America the minute anyone hears their job/401k may be at risk thoughts of revolt disappear. I thought something would happen after TARP went on after what "seemed' like the majority was strongly against it.. Turned out that was a minority. The others were scared stiff of what would befall them if TARP didn't happen... 401k values were palpitating all over the place...
Politicians are keenly aware of this at least on a subconscious level.
Example: I am Nigerian.. THE place that invented corruption.. So I know what a backstabbing Government is like. Guess what?? Most of the Population there is corrupt.. right after complaining of corruption.. They feel they have no choice (military infiltrated Govt years ago so coups are so 70's) but still THEY are or have become just like their Government. NOBODY will make the sacrifice to effect change.
In America the minute anyone hears their job/401k may be at risk thoughts of revolt disappear. I thought something would happen after TARP went on after what "seemed' like the majority was strongly against it.. Turned out that was a minority. The others were scared stiff of what would befall them if TARP didn't happen... 401k values were palpitating all over the place...
Politicians are keenly aware of this at least on a subconscious level.
MKTrader, this is a very controversial conversation that i have had very often lately for both the American and EU people.
As a trader, OFC i see your point and accept full responsibility of my trade/investment. But when it comes to blue colar working people, the "system" should be there to protect them and not try to profit from them by manipulation.
On a micro-scale, I believe that the media and the regulators should be protecting the sheeple. Lack of regulation caused the mortgage crisis that the previous elitetrader member mentioned.
On a larger scale, imagine how many people's retirement funds got blown off. Were they asked for their consent to invest in hyperballooning instruments? If yes, were those thoroughly explained to them, or sold to them in a manipulating manner? This is were big money was lost because it involves the funds from thousands of people and the decision was taking by a questionable handful who did not end up in jail.
Didn't this need to be regulated?
Not everyone is a trader guys...and the big money wasn't lost by traders...neither the homes
They didn't make you do it, they LET you do it....and if they LET you do it again, it would happen the same way. Thats why they came up with Loan Application, FICO scores, Credit history and all that due diligence stuff. If the banks decided not to take any of that into account, then who's fault is it meng?
Rashid_G.
When i first thought about this situation I had thought the same thing. "WE" all spent the money together, "WE" are all to blame.
But, unfortunately, this is also a guilt trip that has no grounds and i will tell you why i say that.
I am not qualified to know the details, but the US debt, as are the Greek and European ones, is comprised of a LOT of items. The percentage that is due to spending FOR the people is not significant. And let's say it was. Then let the people pay that only, and not the TARP to bailout C, AIG, GS etc. etc.
Now, did the people take action to prevent this after the TARP bailout was voted? I do not know that. I believe not. But even if they had, they had...piece and order would have been imposed uppon them as we see in other countries. Correct me if I am wrong.
When i first thought about this situation I had thought the same thing. "WE" all spent the money together, "WE" are all to blame.
But, unfortunately, this is also a guilt trip that has no grounds and i will tell you why i say that.
I am not qualified to know the details, but the US debt, as are the Greek and European ones, is comprised of a LOT of items. The percentage that is due to spending FOR the people is not significant. And let's say it was. Then let the people pay that only, and not the TARP to bailout C, AIG, GS etc. etc.
Now, did the people take action to prevent this after the TARP bailout was voted? I do not know that. I believe not. But even if they had, they had...piece and order would have been imposed uppon them as we see in other countries. Correct me if I am wrong.
