What’s good for Wall Street is not ALWAYS good for America.
Many times it is. But not always. The fact that our elected representatives have allowed themselves to be bribed into doing the bidding of Wall Street on EVERY issue, whether it was in the long run good for the country or not, for 3+ decades, has created this mindset.
There is now going to be an overcorrecting backlash and they are all going to reap the whirlwind.
Unfortunately true. In part this is because making money on Wall Street doesn't depend upon the market doing well as much as it depends on the market ‘moving’.
You just know that a fair number of traders made money after the Brexit vote, and they probably didn't even have to ‘bet’ one way or the other. Trading can be done literally in microseconds now, and you could time sells and trades in such a way to both contribute to the precipitous decline, and profit off of it. This makes the market into a game, not a place to make wise long-term investments based on solid economic principles. Most of us who are in the market (I am) are just along for the ride, hoping to catch the crumbs that fall off the table.