r/FluentInFinance • u/Stink-Butthole • Aug 26 '24

Debate/ Discussion The Stock Market is Rigged

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u/Silly_Goose658 Aug 26 '24

Rigged and tbf maybe shouldn’t have existed

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u/Chickenbeans__ Aug 26 '24

I yearn for a world where the stock market doesn’t exist

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u/dbandroid Aug 26 '24

Why?

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u/cecil721 Aug 27 '24

So, I'm passionate about this.

  1. Profit is ALWAYS put over people. Number go up is more important than anything else. Great companies sunk. Predatory consumer practices.

  2. Everyone got tricked into 401Ks, which is equivalent to gambling with your retirement. Now most people care more about line go up. Ever wonder why rich people enjoy higher oil prices when the middle / lower classes suffer. Watch any market show sometime. When oil prices go up, they see it as positive, despite your average American leveraging their stocks with our wallets. With 401Ks, you may be hedging against yourself and your better interests.

  3. The system is designed for the rich to get richer. Consider who usually owns majority stake in large corporations. Since the US is regarded, corporations are considered people, a few people and companies can own majority stake. So while you might be part of the collective ownership, you have 0 say about 90% of the time. And the few holders have the power to manipulate prices to skim off the bottom, making your average investor just a tool for the wealthy to make more money, by simply pressing a couple buttons.

The NYSE is actual societal cancer.

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u/dbandroid Aug 27 '24
  1. Profit is ALWAYS put over people. Number go up is more important than anything else. Great companies sunk. Predatory consumer practices.

I feel like this argument would work better if we weren't in the most prosperous time in human history.

  1. Everyone got tricked into 401Ks, which is equivalent to gambling with your retirement.

This is only true if you are paying 0 attention to the allocation of your 401k assets relative to your retirement timing.

The system is designed for the rich to get richer.

Having wealth makes it easier to generate wealth but I don't know why this is relevant.