Stock Market

Glenn Holland

Joined Dec 26, 2014
705
I recall back in the 80s, Wall Street tried using "circuit breakers" to halt trading if the market started heading down the toilet.

However, it's a form of price controls and a "Social safety net for the wealthy". There are no circuit breakers to protect the middle class from a mass economic catastrophe and people can -and are- ending up living on the streets.

Furthermore, the problems that caused the economic collapse in 2008 were never fixed and the government simply bailed out the financial industry to the tune of a $Trillion. It's like a stupid spoiled brat kid with rich parents who keep bailing his fanny out of trouble. If the stock market crashes, then let it hit bottom. And considering all the problems with the financial industry, it may very well hit bottom.

By the way, the claim that the middle class will suffer if Wall Street goes belly up are scare tactics to persuade the public to go along with a government bailout. However, my retirement account has never lost any $$$ even after the 9-11 attacks and the melt down in 2008.
 
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