It doesn’t matter if the US spends more than everyone else combined on defense when Wall St. is hollowing out the product of that spending. Maximize cost and minimize quality is the formula for Wall St. profit. Wall St. is a hive of termites that’s been working on the US house of defense for decades.
I think it’s quite the opposite. Most pension funds from around the world buy bonds and stocks. Here in the Netherlands (16,8 million people) over 1000 billion Euro is in these funds. They’ve spread the money over thousands of equity’s and for years and years they’re making money on Microsoft, Apple, Google, Walmart etc. High frequency traders are providing liquidity to the markets so the costs to get in and out of stocks are way lower than they used to be. I can buy Tesla stock with the click of the mouse under a second (costs me only about 60 cent per trade). I can sell it when I like at the same speed. Quite amazing. Gotta love freedom
Don’t you confuse Wallstreet with the banks that most people hate?
I dont think that system works. I get bonds but I think the stocks on older larger companies need to go away. Firms and the public sector need to pay as they go on pensions. I really do believe that the stock side of Wall St is a Casino Ponzi scam that needs to go away. The tax code while we have it should be used to convert the big firms to full employee ownership (divesting Wall St from the Fortune 1000) in the format where management cannot own stock or options and essentially works for the employees and where board members are the firms own pensioners and cannot sit on other boards. Layers of large overlapping mutual funds that rain down money on firms make Wall St into a joke. The get money no matter what they do and tbe tax code is stupidly set up to encourage this. We need to be rid of Wall St.