Politics

Tell Old BS that Wall Street and Main Street need each other 

While Old BS rants against Wall Street, corporate profits and banks, average Americans, especially union members, depend on solid Wall Street and stock market performance and growing corporate earnings and dividends. 

Private and public pension funds, IRAs and 401ks all depend on growing corporate earnings and growth in stock prices. Millions more of average Americans depend on dividends and capital gains as a source of income including millions of seniors. About 50% of all Americans own stocks directly or through retirement accounts. 

As is typical with the far left, BS has no sense of the interrelationship of just about everything, he sees no connection, no consequences,  but goes merrily on his way with quick,  compassionate sounding quips. 

 
The only major pension funds not investing in stocks are the federal employee pension trusts that are required by law to invest only in treasury bonds – thereby raising the cost of the plans to taxpayers. 

   

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2 replies »

  1. I would like to add that is not only people with any kind of investment such as stocks, bonds, 401Ks, IRAs, or pensions, but people who take out mortgages or auto loans that need Wall Street.

    Where do they think the money comes from to loan you for that house or car? Who do they think is buying part of the government debt? If companies do not make money then they will not hire any employees who in turn buy things which keeps you, me, and your neighbor employed. It is those employed people who are paying into the Social Security fund. No Wall Street, no jobs, no supplies for the mom & pop shops who are not listed on Wall Street. If I remember correctly, when credit dried up immediately after the housing bust, it was Main Street who could not get the loans.

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