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JDPriestly

(57,936 posts)

63. I don't trust any of the financial institutions or advisers.

Tue May 8, 2012, 04:01 PM

May 2012

I do not have enough money to pay an adequate incentive for good advice.

Besides, you would be surprised to learn that if you don't have a lot of money and you call a broker to ask whether there is some way to get higher interest that what you are receiving from a bank, they will tell you no, not really, not if you want to protect your savings. I know this is the response you get because I have heard it.

The 1% and those with connections get a good deal. The rest of us get taken to the cleaners. In fact, right now, what is going on is that the savings of the baby boomers are being transferred to the accounts of the 1%ers. That's the reality.

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Asian markets, euro dive on Europe election results [View all] OmahaBlueDog May 2012 OP

After 'the world' recognizes that its no time for austerity, elleng May 2012 #1

Its the markets that want austerity DJ13 May 2012 #2

I don't think so; I think its the stupid, mindless repug attitude, elleng May 2012 #4

They are probably short and in line to make money in a crash. dkf May 2012 #30

Maybe, but at least according to today's Dow, won't be no crash! elleng May 2012 #50

Most European markets closed higher muriel_volestrangler May 2012 #51

Thanks, muriel. elleng May 2012 #53

Exactly. girl gone mad May 2012 #35

Let them crumble. The 99% don't need to follow the "markets" with bated breath. AllyCat May 2012 #3

A lot of us among the 99% are invested in the stock markets, elleng May 2012 #5

That was another brilliant idea of the Global Capitalists, to get their hands on the pension funds sabrina 1 May 2012 #8

Pretty much all savings are invested. dkf May 2012 #22

Take a look at CD and savings account interest rates lately? brentspeak May 2012 #28

Its an investment because someone borrowed it and is using it. dkf May 2012 #29

Not true. girl gone mad May 2012 #36

Loans are assets on the bank's balance sheet... jhasp May 2012 #59

Nope. Loans are not funded by deposits. girl gone mad May 2012 #60

The relevant question is in what? quaker bill May 2012 #40

You are so right, sabrina 1. That is also what they did prior to the crash of 1929. JDPriestly May 2012 #24

It really is a beautiful construct. raouldukelives May 2012 #27

So take your money out, and do what you want with it. chollybocker May 2012 #15

I'm invested for my future security, elleng May 2012 #16

Post removed Post removed May 2012 #25

Yes, but our accounts are not showing gains because the 1% takes the profits. JDPriestly May 2012 #20

My accounts are showing gains, elleng May 2012 #49

Most of us do not have enough money to make advising us worthwhile to a financial adviser. JDPriestly May 2012 #54

Clearly have to be smart when selecting a financial adviser, elleng May 2012 #55

I don't trust any of the financial institutions or advisers. JDPriestly May 2012 #63

What impacts the markets impacts the 99% OmahaBlueDog May 2012 #11

We won't recover until we face the challenges of our time and stop living in the past. JDPriestly May 2012 #21

Sadly they will figure this out the hard way. dkf May 2012 #23

And if the crashing stock market leads to another Great Depression? NickB79 May 2012 #45

US stock will rise. timlot May 2012 #6

I'm not sure stocks will rise, but the Dollar will soar OmahaBlueDog May 2012 #7

Gold and silver prices will go negative also magic59 May 2012 #12

I was thinking "flight to safety" OmahaBlueDog May 2012 #13

US stocks will follow overseas markets magic59 May 2012 #14

Over time, as is usually the case. elleng May 2012 #17

Could be the beginning of a long overdue revolution magic59 May 2012 #9

It so annoys me that when the people do Smilo May 2012 #10

Markets react, up and down, to whatever happens; elleng May 2012 #19

umbrage? offense taken from some slight, often imagined, insult? Tunkamerica May 2012 #31

The PTB hate the popular will. Odin2005 May 2012 #18

Sometimes the populace doesn't understand that there are consequences to getting ones way. dkf May 2012 #26

Two countries that told the banksters to pack sand sendero May 2012 #34

Iceland borrowed billions from the IMF hack89 May 2012 #52

They did... sendero May 2012 #56

So implementing IMF austerity measures and raising taxes is winning? hack89 May 2012 #62

Right.. "There Is No Alternative" girl gone mad May 2012 #37

It's not a better choice if you are poor, elderly, sick or disabled! LeftishBrit May 2012 #41

RW Neo-Liberal talking points. Odin2005 May 2012 #58

CNBC should be fun to watch this morning. boomerbust May 2012 #32

I hope the US market just does a temporary slump OKNancy May 2012 #33

It's cool for the people who have bought puts with their IRA funds. girl gone mad May 2012 #38

OMG! The world is ending! The 1% may have to pay more taxes, and the banks will have to lend to leveymg May 2012 #39

Fortunately the Markets seem to be stablizing OKNancy May 2012 #42

ZOMG! Guess they won't get to steal everyone's pensions after all. NT grahamhgreen May 2012 #43

Maybe not in France. Not so optimistic about the U.S.A. pensions. harun May 2012 #61

At midday SOS May 2012 #44

Big Bu$iness realizes that they're fucked. Fearless May 2012 #46

The markets tend to fall temporarily at any significant political change LeftishBrit May 2012 #47

Dow, S&P, and Nasdaq all up OKNancy May 2012 #48

Back in the Great Depression the market recognized that there was a very strong socialist jwirr May 2012 #57