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I have become increasingly more disturbed by some of the comments I have heard on CNBC, CNN, and some business radio shows regarding the current market conditions of the stock market.
Several leading "fund managers" and "industry experts" have stated that they will not be willing to "close their short positions" or "put their funds money in the market" until they see "Grandma and Grandpa cashing in their life's savings" or "Mom and Dad selling all the stocks in their children's college savings fund" in a mass panic.
What a sad statement of unbridled greed-based decisions. Wishing mass misfortune of others (as well as the general economy) to capitalize on an opportunity for one's own selfish gain.
I have been a participant in the stock market for 25 years and always invested in sound companies that made products that modern society needed to improve all of our lives. These solid companies have been taken down as well as many small businesses by this mess created by the unbridled greed of market manipulators, rating agencies, policy makers, fraudulent financial institutions and other "market experts".
Those hurt the most are the senior citizens whose supplementary pensions are now destroyed beyond the point of recovery within their life time, the small business owner whose lines of credit were cutoff by the financial institutions leaving them without the means to fund the uneven cash flows of their operations, and the responsible families that saved for their children to go to college and now are facing 18 years worth of savings nearly cut in half in a month's time just when their son or daughter is ready to go to college.
The grandma's, grandpa's, mom's, and dad's have names. They are not just statistics. One of them, someone I know, ended his life this week unable to bear the reality that his life savings, business, and means of support for his family had been lost in the blink of an eye. Is that the type of behavior the "fund managers" and "industry experts" are waiting for?
Is this the type of America we want for our children? I hope not.
Shafting all these people is what big business is all about. I can only hope a more rational system properly protected against the manipulators and thieves can be built on the wreckage of this failed scheme.
Shafting all these people is what big business is all about. I can only hope a more rational system properly protected against the manipulators and thieves can be built on the wreckage of this failed scheme. It will take a long time for the financial industry to regain the trust of the small investor. A very long time.
I doubt that I will ever trust the stock market again. Since there are virtually no company pensions anymore, everyone is forced to have a 401K, with the money being invested in the stock market via mutual funds. Sure, you have some choice as to what type of fund to use, but basically, you HAVE to invest in the stock market. Once this whole thing rebounds, I'm taking my money out and putting it into an FDIC insured savings account. I don't care about the "big" return from the stock market -- I'll take a 2-5% return on my money. This is the third time in about 20 years that my 401K tanked. I've had enough.
Let's be clear that small businesses that succeed (as defined by $250k one year apparently) are not "big business". It's also not clear that all big businesses are out to shaft Americans. Let's start referring to specific businesses by name instead of lumping all businesses together. It's defamatory, inaccurate and dangerous. People are making voting decisions based on what they read on CD. That's bodes badly for all of us.
And I've gone without income some years, putting my bills on credit cards, so that I can make payroll. My employees went home safe and happy while I stressed alone in the office about not how I was going to support my family. I was in a position to outsource or layoff but didn't. My employees have worked for me for years. So don't suck me into your vortex of business greed allegations.
And I've gone without income some years, putting my bills on credit cards, so that I can make payroll. My employees went home safe and happy while I stressed alone in the office about not how I was going to support my family. I was in a position to outsource or layoff but didn't. My employees have worked for me for years. So don't suck me into your vortex of business greed allegations.
Thank you very much!
I, too, own a small business and employ up to 12 persons during any given year. Anyone who has not made a payroll has no idea what kind of pressure small businesses face. What, me greedy???
All workers along with business are control bu gred if you thoink that is the effort to make the most money. Then there is criminal behavior which goes on in both;even small business.Just look at the estimates of income tax fraud in what should be ebeing paid and what isn't.Just the amount of unreproted income of the workign class is staggering.Small business is as honest as the average worker it seems .It is easdy to paint a entire class of people with the same brush.Otherwise all actors would be out of control drug and alcohol addicts.I've never understood those who think business has it easy and is a sure thing don't start their own busi9ness and work for themselves.I have friends that have but I never wanted to.
We, too have a small business with 12 employees--and things are rough right now. Personally, we're not making "big" bucks at all---in the last several months, we've actually lost money--does it come from our employees? NO--it comes out of our pocket, so that we can keep our employees on the payroll and out of the unemployment office. Like another poster said, these employees have been with us for years and years....
I'm hoping that once this election thing is over, things will get back to normal. It is very frustrating when you're trying to decide which bills get paid and will we, the owners, be able to pay ourselves this week.
Owning a business is NOT just "rollin' in clover"!
The stock market has replaced Vegas as the place to gamble.
I agree, more losses.
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