[Homestead] The Piggy Bank is empty, Wall Street reacts

Tvoivozhd tvoivozd at infionline.net
Fri Sep 24 18:17:29 EDT 2004


clanSkeen wrote:

>>From Tvo's article:
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>>Despite strong corporate profits,
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>the Dow Jones industrial average has been stuck just above 10,000 --
>trading in the same sluggish range it has maintained all year.
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>Otherwise it is like my expense till illustration.  If no one is willing at
>that time to buy up the share of the person cashing out, the 'value' of that
>share must be lowered until someone IS willing to buy it, and the original
>investor only gets that much.  If he originally put in $1000 and asks to
>have his money back, and the most anyone is willing to give for his 'share'
>is $600, that's all he gets.   Seeing this, people will be even less willing
>to buy from the next person who bails out and the next person might only get
>$400.   If everyone scrambled to bail out at once, the amount they would get
>would be next to nothing.
>
>So Wall Street reacting to an empty Piggy Bank is unconvincing, Wall
>Street's piggy bank never had any actual coins to shake out on demand, it
>has been empty all along.
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>
>James
>
>tvoivozhd---you got that right, James---it's all an illusion---and to make the illusion worse we have paper-and-ink currency that can be changed in an instant, arbitrarily,instantly devalued, devalued more slowly by running the printinp press night and day---or just plain old cancelled---put your money in something safe like AK-47' and shoulder-held missile-launchers---and keep your sailboat ready to depart for Belize.
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