Quote:
Originally Posted by Ronbo
Publicly traded stocks have proven to be the most de-stablizing force in our economy for their 100+ years of existance. The temptation of making big bucks real fast is in essence just as addicting as any gambling habit.
Ultimately the goal is to walk off with the public investors money, happens time and time again. Get rid of the stock market, make the businesses borrow only from the financial institutions (no "public offerings") or sell stock directly to investors (eliminate "preferred stock"). Set a fixed mode of operation for the banks and hang those that violate them.
Our (and most everone else's) economy would be incredibly stable if we would just get these gambling houses out of our financial structure.
At least back in '29 people had the decency to jump out the window.  |
I completely agree that the various world stock markets are the worlds largest Casino. And are not reflective or predictive of any economy. They only show that economic ups and downs tell some that now is the time to make money while others pull back on the same info. That's gambling!
But I completely disagree with even more Government regulation than is already on the books. As in MOST cases, new laws are redundant, if we would actually enforce existing laws, the problems would be solved.