The American People Want……

August 18, 2011

The American People Want _______.
The Market Went Up/Down today because _______.

I’m sure I’m not alone in this but I may just lose my mind the next time I hear another congressional corporate pawn state in the unequivocal way that only they can muster that “the American people want…..blah, blah, blah, blah, blah”.

I am one of those American people and probably above the norm educationally and the debt ceiling is not my primary economic concern nor is the national debt.  My primary economic concern is the concentration of wealth in our world and, no, I am not calling for redistribution; I am simply looking for fairness even though one could argue that a redistribution of wealth has occurred over the last thirty years but redistribution going to the rich is a subject we don’t like to talk about. 

I am also a small business owner and I assure you that the corporate tax rate has absolutely nothing to do with whether or not I hire additional people.  It’s much simpler than that; I hire more people when my clients order more printed products.

I’m probably not alone in this either but I’m sick of listening to “experts” tell me why the market did what it did on any given day.  It’s either unemployment claims, or Europe putting the world on the edge of cataclysm, or the USA losing its AAA rating, or retail sales going up/down, or whatever else they can dream up.  I might be branded a cynic here but I believe markets move primarily because traders love volatility and the wilder the better and they conjure up levels of fear or euphoria to make it happen.

Posted August 18, 2011


Hi, Phil:
You know I am so glad that I subscribe to your site (she says as an “aside”!). It is a periodic beacon, and always filled with good sense.

I agree wholeheartedly with much of what you say, above. I would also offer the opinion that the automated technical traders (those who pay no attention to the fundamentals of an equity, but simply trade according to some predetermined mathematical and mysterious formula) are also part of the issue here.

I am currently working for nonprofit BetterInvesting. It’s an organization that is all about advocating for the “Main Street” investor, and demystifying the world of stock and mutual fund investments for everyday folks. You might want to check it out.

It is an amazing community of normal people, learning together and sharing insight/wisdom in order to preserve their hard-earned capital, and retirement funds. Visit or on Facebook, you can also find us by searching for BetterInvesting (no space in between the two words).

We even have launched a quick landing page that allows people to sample some of our education, resources etc. with no obligation.
That is at

The dominance of the uber-rich and their ability to move the market, as well as technical trading, is the antithesis of what we stand for. (Having said that, Warren Buffett — the Oracle of Omaha — is revered in the community; not just for his ability to invest well, but also for his common sense approach and his philanthropy). Did you see his recent Op Ed piece in the New York Times asking for some semblance of compromise on the whole debt ceiling issue, and opining that he, like others who have done really well, should be paying their fairer share of upkeep of our social fabric (i.e. greater taxes?)? It was really done well, IMHO.

Anyway, cheers and hugs to you. And thanks, as I said earlier, for the good sense with which your blog is filled.

Kathleen (Kathy) Norton-Schock

Thanks for your thoughtful reply. I will check out the site.

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