|"Only dull people are brilliant at breakfast"
|"The liberal soul shall be made fat, and he that watereth, shall be watered also himself."
-- Proverbs 11:25
"Pump and dump" schemes, also known as "hype and dump manipulation," involve the touting of a company's stock (typically microcap companies) through false and misleading statements to the marketplace. After pumping the stock, fraudsters make huge profits by selling their cheap stock into the market.
Pump and dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have "inside" information about an impending development or to use an "infallible" combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is "pumped" up by the buying frenzy they create. Once these fraudsters "dump" their shares and stop hyping the stock, the price typically falls, and investors lose their money.
In the 80’s, it was a time when the boomers were just getting full swing into working in the real economy.
They were told, work hard, and invest all your mony into 401k & pension funds, so you can “retire”.
That was the pump. The boomers funneled so much money onto Wall St, via planned consolidation.
aka: The pump
Now, as the booms are approaching the retirement age, and will be wanting to start tapping that so called “saved” or “invested retirement accounts”, they will find its empty. The money is gone.
Its been moved offshore, or into the hands of a few. Thanks to the boomers.
and now, they are being left with nothing as they haved served their purposes, to give Wall St consolidation mogels your lifetimes earnings.
aka: The dump