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Yes, but WHERE did the money go?
I am still trying to fathom that one. Its not just that the value of stocks has since plummetted (all our funds lost their value too as a result, and if you were an actual shareholder, then you are now looking at a loss), or that house prices have dropped
20%, but that the money that was supposedly slushing about the system and burning great holes in the banks' pockets, is simply not there any more.
Where did it do? Is it now all in gold and US stocks (hence the strength of the $) or under the mattresses of corporations? It's obviously not in the actual banks or we would not have bailed them out twice already. i.e. was it all paper money and not
real at all - banks were lending to other banks lending to others, lending to you and I and taking commission and payment every step of the way. So over the past decade, I suggest that the actual 'money' has simply been paid out within the financial industry(bonuses
etc) and spent.
Lets face it, if you were to look back in 100 years and consider what boom you could have invested in to make money, you might have considered the Telecoms sector over the past 20 years. But no. BT share price is less than when they floated in 1984. Many
others are similarly suffering. The ONLY place that really boomed was the Financial Services sector... deregulation and computerisation of markets etc. Here is where money made money, and where half of that has just been siphoned away under the noses of
It'll take years and could cause more than a retail hardship along the way.
An opportunity to ensure that Social Justice replaces Consumerism at the heart of economic and financial models going forward?
This post is from a series of posts in the group:
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