I BELIEVE THAT STOCK MARKETS ARE A PONZI SCHEME THAT KILLS THE WORKING FAMILIES
About 4:15 PM, EST today I reblogged a story from the ‘Times Of Israel’ about a large Pharmaceutical Company based in Jerusalem that it is said is getting ready to cut about 10,000 jobs within the next two years. The headline spoke a simple reality, basically it said that the Stock values jumped once the news got out. Folks I posted that article because it was no surprise to me, and in reality, this is the expected obvious result of 10,000 people and their families losing their jobs, their incomes.
A young lady who is one of my readers, and I one of hers, left me a comment, her opinion about this article and I would like to share her thoughts and mine with you now. This young lady has an excellent Website that I hope you will take a few moments of your time to check into. I did something that I don’t ever remember doing and that is that I did a copy paste of her comment to me and my somewhat long comment to her, Ms. Laina. Ms. Laina’s Blog Site can be found at (the silentwaveblog.wordpress.com).
Years ago, my gut instincts told me that either severely restricting, totally revamping, or even maybe completely abolishing the stock market might be a good thing. Glad to know that 1) I’m not alone and 2) we might be onto something! 👏🏼👏🏼👍🏼
And this is my reply to Ms. Laina.
Yep, think about it, just like in this case, when a company announces lay off’s their stock value goes up. When a company breaks a union, their stock value goes up. When a company moves their production to a third world country, their stock values goes up. What is in common with all of these is that the total labor cost go down so the profits go up. When Wal-Mart and Target announced that they were going to give their employees a raise, their stock values took a dive. When a company moves from the U.S. to China or Indonesia they know that their costs are going to go down, labor cost, EPA costs go way down, there is no OSHA, all of these things increase profits so the stock value goes up. As I am sure that you have noticed, when a company cuts their costs by lets say 50%, there is no reduction in the cost of their products on the store shelves. It is all about the profit for the company executives and for the stock holders, all at the expense the workforce. The stock market is nothing but a Ponzi Scheme to rob from the poorest to give to the richest, it should be totally illegal, but that is never going to happen.