Has Wall Street Become The New Las Vegas
“Any bets go in this new environment “
I read each morning all of the latest news from several news feeds and most of the news is concerning Trump. Now as President he continues to receive free news headlines(possibly why he tweets so much) where the news media just goes crazy. But today Wall Street was brought front and center, the financial capital of this Universe. That’s right the universe, because whenever wall street speaks the world financial market shutters. Investors on wall street control most financial transactions and financial markets all over the world. Most investment counselor are up all night making deals that bring in the next or latest method of making more money. They have come up with some real doozies in the past decades. Do any of you remember credit default swaps?? (Wall Street bankers packaged faulty mortgages into bond-type securities that were sold to investors. Mortgage brokers eschewed underwriting standards to juice origination volumes. Property appraisers inflated home values. And homeowners used their properties as ATMs, withdrawing equity as values rose.) Now that financial instrument started the trend towards where I called Wall Street the new Las Vegas. That instrument came so close to betting lines similar to Vegas that I was surprised no one caught the implications.
Us novice concerning wall street just couldn’t understand why someone could make money betting on wall street failure, but those investors had large sums of monies being placed on credit and wall street defaulting and after the financial meltdown in 07, 08 those who bought those instruments made billions. Wall Street has bought and sold all forms and crafty method of making money. Today I found out that wall street has gotten into Apple’s business assisting us the common people in purchasing the expensive I Phones which most of us cannot afford but we go into debt to make our dream of buying a new i-phone 8 or 8 plus & the ultra tenth anniversary i phone x, come true. Apple has raised the price of their phones to please wall street financial market and now wall street is making the purchase of the iPhone possible to the middle class and should I say poor urban population who really cannot afford this luxury item. Who would have even dared to think 5 years ago a phone we hold in our hand would cost $1,000. My grandparents in the 60’s bought 15 acres of prime land in Mississippi for $1,200. So I ask you is a phone we will throw away in two years for the next latest model version worth $1,000 dollars???
E. Bishop III, The Money Connection.com
“Following the Money People”