Repost from the old site.
I invested in a stock for the first time in my life 12 years ago. In order to do this, I had to consort with all sorts of repellent humans such as stockbrokers, stock analysts, etc. I lost $350 over a few years, and the Commie in me says it serves me right.
I got the prospectus from the company I invested in, and it proudly announced that it was non-union now, and hopefully into the foreseeable future. Get it? This was a great reason to buy the stock! A unionized workplace is “no buy”. A non-union workplace is a good reason to buy the stock.
Ever read the stock market pages? Check out what happens when a company goes union. Its stock gets pounded. What happens if workers get a raise? Stock gets hit. What happens to the whole market if unemployment goes down? Stock market gets slammed. Why? Stock market loves unemployment. What happens to the market is employee compensation goes up for the year? Bam, stock market gets pounded.
After a while, I concluded that the stock market was an index of evil. If it goes up, evil is increasing across the land. If it goes down, the forces of good must be winning some battles.
I wonder if we even need a stock market. I understand some social democracies have junked the whole game, and all stocks are owned by several huge national banks, which invest or de-invest accordingly.
A truly evil thing that the capitalists have done lately is to bury workers money deep into this hive of evil called the stock market. This means that average workers somehow make more money the more the workers get hurt, and lose money every time the workers start making out. How perverse can you get?
Your average American working stiff understands nothing of this stock market thing (really just a giant casino for rich people) and they think that if the stock market goes up, that’s good for America, and if it goes down, that’s bad for America.
I’m to the point now where I will about cheer every time I see that Index of Evil go down. Why should I cheer the rise of a metric for the devastation of my class?
I don’t see how any progressive person can look at the stock market and tell me how wonderful capitalism is for workers. What a joke.
Take that, market fetishists! What of your vaunted “stock market”?