Why is high finance so ambiguous and unknown to your every day people?
I just find it funny how outside of the tri-state area, no one really knows what Wall Street does. Considering that Wall Street has such a hold on people's every day life, I find it quite absurd that people are so oblivious to the fact that Wall Street controls their life from the shadows. The reason that you are able to drive your car is indirectly because of Wall Street. An investment bank was responsible for taking that car company public and raising capital in order for it to expand. The restaurants that you eat at. They are financed by investment banks or owned by Private Equity funds. The reason you are able to get a mortgage for your home---- a bank. I come from the south and I attend an Ivy target so I didn't know what Wall Street actually did until I got to college. The thing that i could associate Wall Street with was "stocks." When I go home and have conversations with my dad, I am appalled at how little he knows about money and how it works, despite him making 800k+ a year. If every day people simply taught themselves the basics of investing such as ETFs, stocks, bonds, Treasury rates, etc, they would literally never go broke. If they knew that they could hedge against a recession by investing in gold and other commodities as opposed to investing in a fucking restaurant like my parents did when I was 8 in which they lost over 20% of their initial investment. I see why Wall Street executives are so arrogant and think they are God. They literally know how the system works and make money off the ignorance of every day people who do not have a clue in regards to how money actually works.
"Wall Street loves to use confusing terms to make you think only they can do what they do. Or even better, for you to leave them the fuck alone."
– Ryan Gosling (as Jared Vennett)
This.
Also Wall Street Execs make nowhere near the money they used to and certainly ate humble pie as they begged Washington to bail them out (and not let Lehman go) in 08. Long gone are the days of flashing the cash. Most people on this board will be too young to know about life pre-crisis but man was it different...
Why don't we extend the thought further. How much do people here or the average person know about water. Like where their water comes from, how its treated, where it goes, how it gets to your pipe etc etc. Water is literally essential for all life. One could look it up, but what about the specifics. How about where one's food comes from. How it gets from seed to farm to your grocery store? We all need to eat to live.
TLDR: there are too many things to know and learn and only 24 hours in a day to do one's job, try to live a personal life, take care of basic needs and sleep. In short, we all know nothing.
We live in a society