Short term, the stock market is nothing but a casino. And just like a casino, it has ruined the lives of many. Gambling is gambling, and just because it is called a stock market and not a casino does not make it any different or better than a casino.
Gambling is an addiction for many. People recognize a person addicted to gambling and a casino are a bad combination for the gambler and his or her family.
Stock market gambling goes under the guise of investing. All the supposedly legitimate financial companies that do everything they can to lure in the short term traders know perfectly well they are ruining lives. And not just the gambling addicts. The many people who foolheartedly believe they can beat the markets short term and learn the hard way otherwise. Many have lost life savings.
Long term, the stock market has worked. Unless someone is unfortunate to need their money at a time of recession and market decline. But now is an unprecedented time, in which governments have been pushing people into this one asset class. In days past, many people liked the safety and ease of a simple savings account at a bank, where a certain amount of interest could be earned at no risk. Governments took that away, having made sure savers get punished by getting nothing for saving. Government manipulation to push people into stock markets will have a consequence, as will governments inflating stock markets.
Whatever happens now, whether the market continues its euphoric rise, or whether it crashes, will not affect those with time on their hands and that are willing and able to ride out a downward trend.
For the short term traders, other than a lucky few, money will be lost regardless of the long term trends.
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