Note to all us suckers… the stock market is rigged. The rich will always find ways to rig the game, you’re playing by their rules and you will lose.
The Wolf Hunters of Wall Street is a fascinating read delving into some insanely major problems with Capitalism and greed within our lovely stock market. I may just have to read Michael Lewis’s new book, “Flash Boys: A Wall Street Revolt” which it’s pulled from. The NY Times piece is not a quick read so if you need to get the gist, 60 Minutes did a “Is the U.S. Stock Market Rigged” piece on the book this past Sunday. It’s just a jaw dropping look into everything that’s wrong with society. You don’t need to produce a damn thing of value to become extremely wealthy. You just need to walk all over people and make the world your personal casino. And these high frequency traders don’t even seem to be taking any risk in their “gambling”.
Sure there are going to be the good guys fighting the powers that be, but are there enough good guys and can they do enough? We can always hope so but you can only get punched in the gut so many times.
One of the commenters on the NY Times site, Hank, wrote “If this is what Capitalism breeds, how can it be better than government?” It is an interesting way to look at it and hard to argue after you read the article. You can’t quite say all government is better than all capitalism but there definitely needs to be a stronger middle ground or else you’re going to get these scumbags that are legally stealing from all of our retirement funds. Something has to be done about this. I hope what IEX is doing is enough but certainly good for them for trying.