Wall Street Minds and Your Financial Well Being

[Beavker]

Just have to chuckle. I have sat and watched the pathetic Jerry Springer Financial Network, I mean CNBC (because I have to), and there are so many times that they just don't really know why the market does what it does. Obviously I guess, or no one would have been in this mess.

However, as the Market closed today, I again mentally noted that several of the right-wingers in my work area agreed with a visiting broker that they didn't really know what made it go up today. Half jokingly asking who knows what it was that caused the market to do what it did today? The answers basically were that they flipped a coin, or who knows, or the Buyers out numbered the sellers.

I here this all the time. People that know more than me baffled.

Sure, there are things that people can point to that cause it to go up. But there are generally things that could make it go down that get ignored at the same time, or vice-versa.

As a relative skeptic working in the industry, it just boggles my apparently feeble mind as to why we use this ridiculous system of an OTC secondary market that seems to be able to cripple or falsely inflate our economy based on speculation and rumors of a small handful of people that generally represent wealthy Corporations or Individuals. It just seems almost absurd.

I'm licensed Series 7 and have been around the industry for a while, though not in the sales/customer side of things but more in the back office processing side of things. However, I just can't seem to see it as a legitimate form of business, and it is the driving force behind ours and the world's economy.