Wall Street is definitely run by idiots. I have trusted this bunch of imbeciles with my money for years, which makes me just as stupid. They have less knowledge about finances than a toddler. They just discovered this week that we are in a recession. Da! Da! What a brilliant observation. They rank close to politicians, bankers, and CEO’s on the lower end of the intelligence scale. They are just now discovering such things as an energy crisis and that the planet is melting. They probably don’t even know that Kennedy was assassinated. Now they have just discovered the news about the recession and we are back in 1929.
I really don’t know who these unknown people are that make the market go up and down each day. I have wanted to visit Wall Street to see who these folks are that are running around the floor with scrapes of paper, looking at monitors, screaming and listening for bells to sound. The guy with the big gavel standing at a podium up above the crowd has always interested me. He is clapping even when the market is down 800 points. At night all these folks must go to a bar and laugh about how much money they have lost for us today and how they are driving everyone crazy. The slightest bit if negative news sends the market into a tailspin. The feds lower the interest rate a fraction and the market rebounds but never to the level before the fall. Interest rates will soon be below 0, so when we go to the bank for a loan they will give you extra money rather than charging you for it.
In the past, I have heard many presentations from these blue suited financial wizards who manage your money. Many are slick Harvard grads and make you feel like an ignorant hayseed. Now I realize they know nothing. How could I have been so stupid to have been hornswoggled by these guys? They are about as accurate with their predictions as the economist and weathermen. There is sure no science about it. I would put more trust in a fortuneteller.
All of the economic problems can’t be blamed on this greedy lot on Wall Street. Much of the blame is with the common folks like myself. We have developed greedy appetites for everything from energy and cars on down to the exorbitant prices we pay for entertainment and sporting events. We are a nation of gluttons.
I was born at the end of an agricultural society and have lived through an industrial or manufacturing society. All of this is dying and we have become a nation of consumers and non-producers. The problem is, where is the money going to come from to buy all the stuff now grown or manufactured in foreign countries?
I sure don’t have the solution and there may not be one. Hindsight has 20/20 vision. I just wish now that I would have cashed everything in a few months ago and buried it under the porch. I could just sit on the porch with my shotgun and guard the loot and maybe plug a deer from time to time. It’s too late for that now.