Dec 03 2008
Panic causes Panic
I have never been a big fan of the stock market. I have always thought that it was a big fraud, run by people who have nothing better to do, so they invented a job for themselves. Well, they proved me right again.
It seems to me that when you are spending someone else’s money that it really doesn’t matter to you what happens. For years they have speculated (guessed) what was going to be good. I’m not big on letting someone else play with my money. It won’t hurt them if they make a mistake, so who cares? The people who’s money they play with are nameless faceless dollar signs. The stock market itself is a fallicy. You would be better off spending your money on betting on sports or horse racing. At least you would have the ability to research the best pick. Maybe the stock market would work if people did the work themselves. After all, the ‘experts’ knowledge seems to be lacking in some major areas, like common sense. They follow each other like sheep going to slaughter, yet we are the ones to get fleeced. I think some serious restructuring needs to start now.
They have such non-discript terms that they use to fool us into thinking they know what they are doing. Everyone of the ‘players’ who lost money for their companies ought to be fired. The local rural bait shop owner in my small town has dabbled in the market for years. Do you know how much money he lost? -0- He made more money. I asked him how and he explained that he bought stocks that were a sure thing. He only used a very small portion of his investment on risky items. Seems like a pretty suave move for a bait salesman. Now if he could figure that out- why not the big wallstreet fatheads? They got greedy and got spanked for it. I don’t feel bad for them at all. I do feel bad for the people who trusted them with their hard earned money.
The thing that really gets my goat is that when things started to tank, they all panicked and ran over the cliff. They tell us to have faith, stay the course, don’t panic and take your money out. It will correct itself. Well, they didn’t take their own useless advice and they all panicked! And to make matters worse, they kept going with the same old lousy ideas that got them screwed in the first place. So, in steps our government to fix things. Hey, that worked great! Just like when you put a cop at an intersection, it’s going to get ugly real fast.
Instead of being frugal and conservative with the way they conducted trading, they tried to make money off the stupidity of others. Invest in the things people need not on frivilous fly-by-night ventures. That’s where the big money is they say. Well, where is the big money? It’s all a risk- you have to risk big to make the big bucks. Everybody went along and let them do it and now we are all paying for it. Everyone of those people ought to be fired! Hell, if anyone else in any other job, screwed up so bad, they would be packing up their desk the next day
And then there is insider trading. What a crock this is. You can’t talk about what is happening in the companies that you are investing in? That is crazy! They all do it, but don’t get caught. Whatever happened to public knowledge? If a company is having problems or is misrun, why shouldn’t everybody know about it? Maybe we could have avoided alot of iffy investments if they shared some info with us. And when companies do tank out, how about taking everything away from the CEOs who brought us all to this place? If we lose, they should lose. Maybe if they had a personal stake in it, they would be more careful . Bailouts are another dumb idea. Hey, they drove this huge corporation into the ground, let’s give them more money to play with. Smart.
It is the American way to succeed when you do a good job at doing your business. If you don’t - you fail. If I mess up my finances, noone comes in to bail me out. And I’m not a self proclaimed expert on money. These people went to college for this. I would have been better off investing my money based on throwing darts at a board. The only correction I want to hear about is that whoever failed, is gone. We would get over it. If there was a few less banks and brokerage houses would it really matter? The jobs? They need to find another line of work, as was proven by their past performance. Maybe the best thing to do would be to step back. I think I will put my money in a can in the yard and turn off the news. I don’t need the stress.
