The Mudcat Café TM
Thread #33649 Message #452311
Posted By: Jim the Bart
30-Apr-01 - 03:25 PM
Thread Name: Quebec City Protest - Part 2
Subject: RE: Quebec City Protest - Part 2
Ownership of stock is the illusion of wealth. The stock market is little more than a pyramid scam. It will only continue to run, based on false perceptions of value, as long as people believe in it and no one decides that it's time to cash out. That's the scary little secret that our current boom time balances on. Look what happened to all the little dotcom start-ups when the public flinched.
Anyone out there who has a 401k plan or an IRA has gotten a glimpse of what can happen when the economy stops growing, or if you place your eggs in the wrong basket. There isn't an economist worth his/her salt that is willing to bet on how long this will continue, either. The market favors those who got in at the bottom, i.e., the old money crowd. Unfortunately, the way the economy is skewed right now, the market is the only game that pays. But so much of this "prosperity" is no more than fools gold.
Mav, you might as well go out and buy lottery tickets.