I like this comment by Yves Smith

by cactus

I found this comment by Yves Smith – which is not the main point of her post by the way – to be very good.

But another side effect of today’s equity market gyrations is further distrust in the markets, particularly by retail buyers. I am told that various retail trading platforms were simply not operating during the acute downdraft and rebound. I couldn’t access hoi polloi Bloomberg news or data pages then either. The idea that the pros could trade (even if a lot of those trades are cancelled) while the little guy was shut out reinforces the perception that the markets are treacherous and the odds are stacked in favor of the big players (even though we all understand that, it isn’t supposed to be this blatant).

Frankly, I’m just a little guy who saved a bit of money over the past few years, and I’ve been trying very hard to put those savings in places unrelated to the market because I do believe the market is gamed against ordinary people. Not that I can avoid it completely – this is the era of the 401(k) after all. Nevertheless, Thursday’s events are just going to lead me to redouble my efforts to find places away from the financial markets to put money.