ETFs. OMG, Here We Go Again
It was announced today that ETFs (Exchange Traded Funds) have now reached $1 Trillion dollars. Please take the time to research ETFs and if you can filter out most of the esoteric BS, you will find that ETFs are gussied-up derivatives. Brothers and Sisters, ETFs are not Capitalism; they are simply another way to make money off of money. Capitalism is when you invest your hard earned money into a business that is engaged in productive enterprise and the business makes a profit by producing something that people need or want. This adds to an economy. MONEY is not an economy. Money only enables commerce that makes it easier to grow an economy. Making money off of money cannot grow an economy and the growth of ETFs will be the next bubble that can destroy our fragile economy. Yes Gordon Gekko, greed is still alive and well.
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