The Stock Market is a ficticious mess, and when this one collapses there will be blood on the walls.
“The stock market is a fictitious mess, and when this one collapses there will be blood on the walls.”
If it is like 2008 the government will step in again, bail out the investment firms, and leave the taxpayer with the bill. Many middle class workers will lose their jobs and will experience their retirement savings declining by 50% or more. Within a year the investment firms will resume paying double digit bonuses to executives “earned” through transaction fees generated by churning the what is left of the 401K and IRA accounts of the public.
As in 2008, there will be little blood on the walls on Wall Street. Ask the boys at Goldman, JP Morgan or Obama’s billionaire buddies Warren Buffett, George Soros, and Tom Steyer how they fared in 2008. Crony capitalism pays big money in good times and bad times. The days of Wall Street bankers leaping out their windows during a crash are long gone.