Wednesday, April 21, 2010

Taking the Risk out of Wall Street

The fun-suckers are at it again. Now they want to take the risk out of Wall Street. I hope they don't take over the gaming industry. Imagine a Casino where your losses are returned in the morning, the same show has played for twenty years and the showgirls are obese, the restaurants serve fast food and the slot machines pay even money every other spin and the keno caller doesn't stop calling numbers until the cage is empty. After the last two guests have left, the government will deem the Casino too big to fail and take it over thus assuring mediocrity in perpetuity.

Wall Street is really a big casino. It will be completely dysfunctional without risk. Without risk, marriage, work, sports, recreation, driving, love etc. would all be a bore. If the biggest return that you can receive investing in a start up company is the same as what you get on a six month money market certificate who is going to invest in the market? Like the rest of socialism it just doesn't jive with reality. When you visit a socialist country one sees how the stifling of risk has snuffed out joy, ambition and hope. When the risk is no longer an option all that's left is mediocrity. Then again isn't that America's great sin, excellence? The end of risk will become obvious to us all sooner or later; even if it's when you're waiting for a refill on your coffee.

We are all supposed to hate the banks; why? The bank hasn't done anything to me. They gave me a few mortgages, I have a checking account, a few CD's and a safe deposit box. I think all this is free (including my checks) with a $5,000 total balance in all three accounts. I do pay $20 a year for a larger safe deposit box. I don't bother with an ATM card or scented checks and I'm never overdrawn, so me and the evil bank get along OK. Contrast this with the government which takes $5,000 a month out of my pocket and the bank looks like a true friend. Everybody is the Devil except the government. Evil Wall Street, evil banks, evil doctors, evil plumbers, evil airlines, evil truckers, evil coal, evil oil etc. but never evil government. Don't think about that that ten cents a gallon increase in the gas tax or that 5% increase in F.I.C.A. withholding,just concentrate your rage on that one dollar ATM fee. These same looters that brought you Fannie & Freddie just keep stirring the pot and dividing us.

1 comment:

D- said...

I personally was amazed while in Socialist England some years back. Fully "able to work" men were just sitting around at the local pub sucking down ale after ale. The men were turning into a lot of lazy drunken slugs. The English government has taxed the people so much they were afraid to publish how much everything is taxed (sales Tax) and so the tax is automatically added to the shelf price. Now our socialists want the same for this country. VAT (Value Added Tax) is Obama's latest. UGH!!!