Typical Wall Street Spin
Today is Jan. 29th, 2016 and Reuters has an article on Yahoo finance that states the market is up because Japan is lowering their interest rate to below 0%. Really? So does that mean that Japan will pay people to borrow money or charge them to save money? How is this good news. Furthermore they say the other reason the market is up today is because the GDP is not very strong therefore hopefully the Feds won’t raise the interest rates. So once again they are telling us that bad economic news is a good reason for the stock markets to go up. How and why do people fall for this line of “horse crap”.
The market is down for a reason and it is not because the Feds raised the interest rate to a whole 1/4 of a per cent. As stated in the book Wall Street makes a lot of money when they can “borrow” money for free. It also helps them keep all the money in the market when people can’t earn anything on their savings in the banks. It is hard to believe when the banks are paying less than 1% on savings but charging 19% or more on charge cards that they can still make more money off of your money when it is in the stock market but that is exactly what is happening. The Feds should have started raising rates way back in 2011 or 2012, but they were apparently swayed by the big banks. We need the Glass-Steagall Act to come back into existence. It was that act that separated the Wall Street banks from the main street banks because that was a big part of the cause of the Great Depression. The act was dissolved in 1999 and sure as heck 8 years later we entered the Great Recession.
The Wall Street banks will continue to rob you of your hard earned money for as long as you allow them to do so. A rally like today is for the sole purpose of getting you to buy into the market so that they can get out of it. Then later on after you have taken the losses, instead of them, they will buy the shares back from you at of course a lower price.
The only shot you have of holding on to your money is to educate yourself and I have to say starting with my book would not be a bad place to start. I know that is very self-promoting of me, but I swear what you learn from my book will not hurt you.