Thu 2 Oct 2008
Stock Market, Greed and Mortgage Crisis
Posted by obliv1on under Stocks , current affairs , mortgage[2] Comments
I don’t have a lot of money, but what money I do have I would like to keep. The more I look at the stock market the more pissed off I get. From one day to the next you never know what you’re going to get. It’s like dating some crazy person who forgot to take their meds.
Take today for example, the market is down a couple hundred points and all because more people are collecting unemployment. Let me summarize for you as far as I understand things:
- Company ‘XYZ’ sells a product
- People, or businesses buy that product from ‘XYZ’
- The ‘XYZ’ company reports profits but not enough to satisfy Wall Street.
- Wall Street downgrades the company and its stock lowers
- Shareholders of ‘XYZ’ stock want action
- The ‘XYZ’ chicken shit CEO lays people off because thats the easy thing to do
- People are then unemployed
- Unemployed people spend less money and can’t pay their mortgage
- Go back to the beginning.
I hate Wall Street and all the greedy assholes who ‘live’ there like this Washington Mutual CEO dickbag who after 3 weeks on the job is up for millions in severance pay.
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