Stock Market Junkies: Addiction, “Casino Culture”, and the Dangers of Wall Street
Who knows why people do it? Is it the allure of the suit and tie culture of the business world? Do they make gambling look fanciful or sexy? These questions provide important questions on why people tend to give their money to stockbrokers in the hope that they will win the lottery on Wall Street. In American society, the tendency to seek a “pot of gold” at the end of every rainbow is an important way to understand the addict and the gambling way of life. Addiction is a major problem for many Americans, but it is the addiction to monetary gain and ostentatious lifestyles, which drive many people to gamble their money. My boyfriend, Zach (real name here), is …show more content…
Stockbrokers receive sale commissions for every stock sold, so it makes the client vulnerable to short-term profits that often siphon small amounts of money from the client’s account (Zach). More often than not, it is the client that loses money on short-term “bets” on the rise and fall of a stock’s value. Not only can clients lose their money on a “speculative” bet on a stock, the client has to pay the stockbroker for the management of the stock! In other words, the stock market is a gamble in no uncertain terms, and people often put themselves at the mercy of the stockbroker’s “crystal ball” in terms of stock market trades (Frankel 154). This system is what gives birth to the stock market …show more content…
Addiction is a major problem in the United States, and its damage can be seen in the “get-rich-quick” culture of Wall Street. The casino mentality of many Americans is often their downfall, which reveals the obsession with money, as well as an ostentatious lifestyle. Take it from the stock market junkies in this article; they tell a tale of addiction and financial destruction that she remind of us of the dangers of Wall Street. Be safe with your money. You have been
Who knows why people do it? Is it the allure of the suit and tie culture of the business world? Do they make gambling look fanciful or sexy? These questions provide important questions on why people tend to give their money to stockbrokers in the hope that they will win the lottery on Wall Street. In American society, the tendency to seek a “pot of gold” at the end of every rainbow is an important way to understand the addict and the gambling way of life. Addiction is a major problem for many Americans, but it is the addiction to monetary gain and ostentatious lifestyles, which drive many people to gamble their money. My boyfriend, Zach (real name here), is …show more content…
Stockbrokers receive sale commissions for every stock sold, so it makes the client vulnerable to short-term profits that often siphon small amounts of money from the client’s account (Zach). More often than not, it is the client that loses money on short-term “bets” on the rise and fall of a stock’s value. Not only can clients lose their money on a “speculative” bet on a stock, the client has to pay the stockbroker for the management of the stock! In other words, the stock market is a gamble in no uncertain terms, and people often put themselves at the mercy of the stockbroker’s “crystal ball” in terms of stock market trades (Frankel 154). This system is what gives birth to the stock market …show more content…
Addiction is a major problem in the United States, and its damage can be seen in the “get-rich-quick” culture of Wall Street. The casino mentality of many Americans is often their downfall, which reveals the obsession with money, as well as an ostentatious lifestyle. Take it from the stock market junkies in this article; they tell a tale of addiction and financial destruction that she remind of us of the dangers of Wall Street. Be safe with your money. You have been