Okay, honestly I am not smart enough to understand Wall Street. It’s been explained to me several times by several different people… But still it’s like teaching algebra to a dog. The overall comprehension just ain’t there… ya know?
Anyhow, having already stated how ignorant I am, I have to pose the following question (which has been on my mind for about a week now): Has capitalism failed?
What’s with all these banks collapsing? I never understood the whole Enron thing, and I’ve even watched documentaries on that. Still doesn’t make any sense to me. You either have money or you don’t? Right? Apparently not.
…and I know this is ridiculous childish thinking, but man, if I had a time machine I would go back to a few days ago when all those stocks crashed 700 points and buy as many as I could. Then I’d sell them the next day (when they rose again), wait for them to drop again the next day (by 500 points this time), buy them back (even more, using the money I’d made on the first transaction) and be rich by now!
Anyone wanna work on this time machine project with me?
Anyhow, having already stated how ignorant I am, I have to pose the following question (which has been on my mind for about a week now): Has capitalism failed?
What’s with all these banks collapsing? I never understood the whole Enron thing, and I’ve even watched documentaries on that. Still doesn’t make any sense to me. You either have money or you don’t? Right? Apparently not.
…and I know this is ridiculous childish thinking, but man, if I had a time machine I would go back to a few days ago when all those stocks crashed 700 points and buy as many as I could. Then I’d sell them the next day (when they rose again), wait for them to drop again the next day (by 500 points this time), buy them back (even more, using the money I’d made on the first transaction) and be rich by now!
Anyone wanna work on this time machine project with me?
2 comments:
I am no expert, but I'd say no, capitalism didn't fail. The government screwed it up. For a free market to work, you have to take the highs with the lows. For every bubble, there will be a crash and a correction. The government was fine with loose credit and all the money coming in, but when that burst and the market crashed -- a symptom of a market correction -- they stepped in to try to rescue it. Hence, the capitalist system just became a socialist one. If they had just butted out, let the market correct itself, it would be much better in the long run. Yes, it would've hurt -- what goes up has to come down.
And keep the time-machine idea on the down-low. I'd hate for word to get out and then you'd be in trouble for insider trading!
It has and it will continue to. It's been prophesied.
I'm with you too on the not getting it all. I just roll with it.
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