Ive often seen individuals on the left talking about how billionares shouldnt exist etc., but when probed on how that could be accomplished the answer is usually just taxes or guillotines. I dont think either is great.
What if instead, corporations were made to be unable to be sold or owned. Initially theyre made to default to popular election for their board, and after that they can set up a charter or adopt a standard one, ratified by majority vote of their employees.
Bank collapse would probably follow, how could that be remedied? Maybe match the banks invalidated stocks with bonds?
The stock market shouldn’t exist. Fight me.
Poor people are poor just because they don’t know how to participate in the stock market. Fight me.
I fully agree!
However, participation requirements for winning include:
Both point 2 and 3 are false. You have examples for both in the current US affairs. Please elaborate if you know something that the rest of us doesn’t.
Holy crap your effing president is running pump and dump schemes and a lot of politicians made wins on stocks that they Coincidentally sold or bought with the right timing.
Do I need to explain that?
That is blatant misuse of power and conflict of interest.
That’s corruption, and it’s totally something else, but nevertheless there might be others who had no idea, but had the stock at the right moment, and sold as it was high. So, even in cases where the powerful play, the small ones, if lucky, could massively win.
On the other hand, you had the worlds wealthiest man, being second hand to the most powerful man on the planet, and he lost billions. So… I wouldn’t call those that much significant. I bet there are tons of smaller examples where CEO’s manipulate the stock of their own company that fly under the radar. But overall, in general, especially if you invest into ETFs (groups of stocks) you will barely notice anything and life goes on as usual. And the usual is 6-8% win per year on average.
That’s fine, let’s just disagree.
My point besides the corruption would be a massively rigged system. Yes, you can have wins. But that does not make it better or even - and that was the point before - people who don’t use it incapable to do so.
They might also want to stay clear from it, wisely.
Could be, but in the end, no risk no reward. People who do risk, are the ones who get rewarded.
The stock market isn’t the root of all evil - it’s just one way for companies to raise money and for regular people to invest in those companies. Without it, businesses would still need funding, but the money would come from a much smaller circle of the ultra-rich and private investors. That would make the system less democratic, not more.
If we got rid of the stock market, we wouldn’t get rid of corporate greed or wealth inequality. We’d just move them into darker, less transparent places - behind closed doors instead of in public view. Ordinary people would lose what little access they have to ownership and wealth-building. Rich people would still get richer, just in ways even harder to regulate.
So if the goal is to make the system fairer, abolishing the stock market isn’t the answer. Reforming it might be - but killing it outright would probably just make things worse.
Agreed. Like so many things, I think law enforcement can help rein in the stock market. If there were a way to move the SEC under maybe the Fed(?) and require full funding of the agency as the cost of doing business on any stock market in the US (with similar institutions in other countries). Probably a flawed idea, but I think the goal is sensible: remove the SEC from political ambitions and whims and make the market directly fund its regulatory adherence.
Also more people need to suffer severe prison sentences for financial shenanigans. We also need to go back to separate deposit and investment banks.
I’m not saying it is. But everything that offers the chance will be abused. And the way it currently exists, it shouldn’t.
Currently it’s just a massive machine for people with massive money to get more, channel money / misdirect analysis / hide and exploit all others. On paper one might disagree, in reality though…
Investing in the stock market isn’t something exclusive to the rich. For someone like me, it’s pretty much the only realistic way to build any significant wealth for retirement. Without investing, I’d just be losing money to inflation by keeping it in a bank account. Now that I’ve got it invested, I’m already earning enough in returns to cover a few months’ wages each year. It makes no sense to want to take that possibility away from everyone just because you despise billionaires.
I understand and am happy for you that you see a benefit in this for you.
However, I came to the conclusion that it is trivial for those in power to simply fuck you over on occasion. If you’re a small investor and lose, we’ll tough luck you signed up for it. If you’re the bank, oh dear, we need to rescue it! There are various examples of crashes and closures but it really is fine to have a different opinion.
I just wanted to state I am not having mine simply for fun and did quite some research and also worked in a critical financial field once where made up money in a global scale was proven.
As you will also have your background for your opinion. That’s fine!
Fight you?
Brother, I’ve come to join you.
where is the line between croud funding and a stock?