4 ms·
As a guy who has recently started to come out of debt and starting to prepare for pension and savings, the more I learn about the financial industry the more it
by tablewatcher 11y ago
As a guy who has recently started to come out of debt and starting to prepare for pension and savings, the more I learn about the financial industry the more it scares me. It seems like a zero sum game and nothing more than sophisticated gambling.
- saasyguy 11y agoEverything can be said to be "sophisticated gambling." Nothing is certain, and only those who don't understand finance believe that any financial instrument whatsoever is a certainty. And even outside finance: the job you took isn't certain, nor is the car you bought or the marriage you entered into. Finance has its problems but the gambling aspect isn't the root of it.
- chillwaves 11y agoThe difference is whether you are the house or you are getting screwed by the house. My guess, most people are not the house.
- caminante 11y agoExcept your "house" is undergoing layoffs. It's not hard to manipulate markets. It IS hard to manipulate markets and make a profit!
- cylinder 11y agoIt goes beyond gambling, it's far more feudal than that. Read Michael Hudson's book "Killing the Host."