Why Are They Clapping?

   Every night on the local news the talking heads give the stock market reports for the day. This is usually accompanied by a short snippet of a bunch of people standing on the balcony overlooking the exchange floor at the New York Stock Exchange (NYSE). If you’ve ever wondered just who these people are and why they’re standing there, here is the answer thanks to the good folks at investopedia.com. Yes, Virginia, there is an investopedia.
   The NYSE began having special guests ring the closing bell on a regular basis in 1995. This daily tradition is highly publicized and often done by a company. (It doesn’t say if that company pays for the privilege). Prior to 1995, ringing the bell was usually the responsibility of the exchange's floor managers. There are bells located in each of the four main sections of the NYSE that all ring at the same time once a button is pressed. The ringers press the button for approximately 10 seconds. A gavel is also used on some occasions.    
   Without fail, there is much smiling and applauding as, presumably, the honored company’s CEO presses the button that activates the bell.
   Recently, the market had had an especially bad day and the nightly report lasted longer than usual. In fact, it was the lead story. Any time the market report tops the news, the news ain’t good. As the newsreader gave the grim statistics, there were shots of traders shaking their heads staring at the boards in disbelief and a pervasive feeling of doom. Yet, up on the balcony, a beaming CEO pressed the button while an equally beaming group of his minions wildly applauded the closing of the day’s trading.
   Given the carnage on the floor below, the gaiety on the balcony seemed wildy inappropriate. Maybe those traders weren’t staring at the boards in disbelief but were staring daggers at these highly insensitive yahoos as they contemplated a future living in a cardboard box. The contrast between the two moods reflected the general feeling out in the real world as the incredibly wealthy few who control the bulk of the money stare down impassively at rest of us who wonder daily how we’ll make ends meet.
   Therein lies the question. Are these people cheerful just because it was their turn to have the honor of ringing the closing bell? Are they blissfully ignorant of damage below? Did they know what happened but were paid a bonus to pretend all was right in the financial world? Do they really care that their relentless accumulation of wealth is leading to a permanent underclass of formerly gainfully-employed, taxpaying, economy-boosting Americans?
   This inquiring mind wants to know...before it’s too late.