“To argue with a man who has renounced the use and authority of reason, and whose philosophy consists in holding humanity in contempt, is like administering medicine to the dead, or endeavoring to convert an atheist by scripture.”
Anyone who lived through the Great Depression (as my Mother did) knew how quickly one good loose everything in the stock and bond markets. When the banks collapsed, the government agents stole anything of value from customer safe deposit boxes. After that, the FDIC was formed to ensure the safety of banks, so people would feel they could trust someone with their money. Those people who lived through it when young, as they aged felt the banks were best for their money as they could earn money on their money (and did for the better part of 75 years, except the last 5).
Since I read your ‘about’ page, I'll add - Have you seen that there are a record number of companies defaulting on debt this year? Even with non-GAAP earnings reports, they are running out of ways to report profits. Earnings per share are primarily maintained for listed companies by borrowing at 0% to buy back their own stock, reducing the number of shares to divide earnings by. Stock prices this year have reason because of high-frequency program trading, where machines scan the news and frontrun the market with phantom buy/sell’s that are canceled milliseconds later (read Michael Lewis).
I'm an optimist in life, but in the realm of money there is just so much lying by the government, the corporations, the trading machines and the media, I just don't trust anyone anymore.
It's usually a real bad idea to waste time chatting w/ someone who begins a rant having already decided what I think without ever bothering to ask. Apparently this is nothing new w/ our info age, I realized it's been with human kind for hundreds of years when I saw--
“To argue with a man who has renounced the use and authority of reason, and whose philosophy consists in holding humanity in contempt, is like administering medicine to the dead, or endeavoring to convert an atheist by scripture.”
