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homestead - Re: [Homestead] The Piggy Bank is empty, Wall Street reacts

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  • From: Tvoivozhd <tvoivozd AT infionline.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] The Piggy Bank is empty, Wall Street reacts
  • Date: Fri, 24 Sep 2004 15:17:29 -0700

clanSkeen wrote:

From Tvo's article:


Despite strong corporate profits,

the Dow Jones industrial average has been stuck just above 10,000 --
trading in the same sluggish range it has maintained all year.


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.


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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