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3/14/09

Wallstreet -"There is a sucker born every day"

EU-Digest

Wallstreet-"There is a sucker born every day"

The Capitalist system of doing business is usually based on raising capital through public markets. Funds are accessed that are made available by institutions and individual investors. In this scenario, the likelihood that the individual investor somewhere along the line gets the shaft is pretty high, because the market is set up in such a way as to favor the large institutional investors. Basically one could say that the game is rigged and because there are very few rules to avoid that. Brokers and traders today make deals and can manipulate prices every day. So since tens of millions of trades are made around the clock daily in the global marketplace, one could also say that the financial markets operate very much like a multi-national casino. What makes it even more scary is that most of the public is sucked into believing what some of the "insider pundits", like a Cramer, who plays in one market and promotes another says. Therefore, don't be fooled or take any of these market terms - 1y Target Est.,T-Bill index, Actual EPS, CPS, or DPSwe - you get bombarded with serious. Most, or just about all of these terms used have absolutely no scientific base and must be seen as a clever attempt to give legitimacy to what is nothing else but a complex uncontrolled and unregulated financial gambling operation.

The purpose of the stock market has never been to spread wealth, maintain financial order, or support the economy. For every winner in Wall Street you can find a loser, for without losers, there are no winners. Wall Street is a gambling place where the winner takes it all. And like at any Casino the House always takes a cut. Brokers will make commissions no matter what happens, win or lose. Should the taxpayer fund such a rigged and unregulated financial system. Absolutely not.

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