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Egalitarian Thug

(12,448 posts)
41. Why this is really nothing much to celebrate.
Fri Feb 1, 2013, 04:17 PM
Feb 2013

Prior to the gutting of ERISA and flogging the alphanumeric soup of "individual retirement plans" on the public, the DJIA was really irrelevant to the average worker. It was a piece of trivia published in the WSJ and fretted over by executives and those with the means to invest, IOW people with knowledge, means, and interest in the topic.

Legalizing and rewarding the theft of the average person's earned equity (pre-seventies pensions as the primary example) and thereby forcing all of us into a market we have no control over and little if any knowledge of has captured and required us to root against their own interests. The worse things are for the average citizen, the better Wall Street likes it, so the higher the averages go.

One piece of evidence of this is the numerous "I've finally recovered my retirement account" statements here on this and the other threads.

You haven't, your equity was still stolen, you will never get that back. You've lost the interest you should have made over the intervening years, you will never get that back. You've lost the time and all the myriad effects that has had on your life, you will never get that back. You've lost the unimaginable amounts of money that you, as American taxpayers, are on the hook for in fueling this so-called recovery you will never get that back and your grandchildren will still be paying for that long after you're dead.

It is the illusion, the cynical manipulation of our collective perception that causes us to cheer our own losses to the exclusive benefit of those that stole what was ours that is so insidious. By making you feel better, you are motivated to participate in your own demise. All those losses listed above, and many more that would take hours to write, came from you and went to them and they don't even have the decency to thank you for it, nor do you have the understanding(?) to demand their gratitude and remuneration.

You're cheering your torturer for backing the thumbscrews off a quarter turn.

Is this good news or bad news? nt el_bryanto Feb 2013 #1
Good. A HERETIC I AM Feb 2013 #4
Anything that proves ReTHUGs wrong is good news malaise Feb 2013 #5
good news for the rich... Sekhmets Daughter Feb 2013 #6
Explain why this is bad news for the rest of us please. n/t A HERETIC I AM Feb 2013 #8
First, please allow me to state that I am not offering a criticism of the Obama administration... Sekhmets Daughter Feb 2013 #17
Which do I own? Probably all of them through Mutual Funds in my 401(k) A HERETIC I AM Feb 2013 #21
Profits have been rising steadily for quite some time... Sekhmets Daughter Feb 2013 #22
I was a Broker/Financial Consultant from 2006 thru 09... A HERETIC I AM Feb 2013 #24
Condescending? That was not my intent. Sekhmets Daughter Feb 2013 #27
I am not rich and this is good news for me. yellowcanine Feb 2013 #28
That is good news. Sekhmets Daughter Feb 2013 #29
I don't have a 401K. That is not the only method of retirement saving. yellowcanine Feb 2013 #30
That's great... Sekhmets Daughter Feb 2013 #33
People who panicked and got out at 11,000 got hosed..... yellowcanine Feb 2013 #36
Exactly... Sekhmets Daughter Feb 2013 #38
198 to go to reach its all time, intraday high. n/t A HERETIC I AM Feb 2013 #2
NOW 14,000.58 +140.00 (1.01%) malaise Feb 2013 #3
LOL.... Yup. A HERETIC I AM Feb 2013 #7
Meanwhile some jackass Sekhmets Daughter Feb 2013 #9
You see - this must piss off ReTHUGs malaise Feb 2013 #11
I wouldn't care if it was some Freeper or Fox a-hole.... Sekhmets Daughter Feb 2013 #18
it's always nice to see your savings rise, no matter how meager they might be liberal_at_heart Feb 2013 #10
Thank goodness jschurchin Feb 2013 #12
"CLEAN UP IN AISLE FOUR!" madrchsod Feb 2013 #13
Wait until they see this - The Dow logged its best start to the year in almost two decades. malaise Feb 2013 #14
Hooray for money!!! cbdo2007 Feb 2013 #15
Had rove and rmoney been able to steal Ohio and Florida like they tried so hard to do... tjwash Feb 2013 #16
Yes, I'm sure according to him it was Obama's economy on January 21, 2008. denverbill Feb 2013 #19
"this is just george bush's economy we are running on anyway." malaise Feb 2013 #20
Oh yeah. That's the latest rush-meme since the economy started its turnaround tjwash Feb 2013 #23
That photo is so freaking cute malaise Feb 2013 #32
Yes, and it's your (Dems) economy if the Dow is in freefall nobodyspecial Feb 2013 #25
I blame Obama! Johonny Feb 2013 #26
This is finally breaking news malaise Feb 2013 #31
Funny - so did RMoney malaise Feb 2013 #34
This Does Prove That You Can Raise Taxes on the Wealthy and Not Bring About the Zombie Apocalypse Yavin4 Feb 2013 #35
Indeed malaise Feb 2013 #37
And Chuckie Todd told me this morning that Skidmore Feb 2013 #39
Poor Chuckie malaise Feb 2013 #40
Why this is really nothing much to celebrate. Egalitarian Thug Feb 2013 #41
No this is about the system that exists and malaise Feb 2013 #42
No, it isn't for the reasons listed and many that I didn't bother with. Egalitarian Thug Feb 2013 #43
I am no fan of the stock market - anywhere malaise Feb 2013 #44
Did you read my first reply? We agree that the system is bad and that this is not bad news, Egalitarian Thug Feb 2013 #46
Good points but malaise Feb 2013 #49
Fair enough. Egalitarian Thug Feb 2013 #50
You have not "lost the interest" that you should have made. You are forgetting about the dividends. Nye Bevan Feb 2013 #47
I haven't forgotten, I didn't write a complete analysis in the hopes that someone would read it. Egalitarian Thug Feb 2013 #48
This is only good news for the rich, the elite. MadHound Feb 2013 #45
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