Ho ho ho! Nice rant, that "lumbar spine" must be good $hit!<G>
I dunno...back in the day (set the way back machine for the late 70's) when I was in college, the dudes and dudettes going into business weren't (warning: broad, sweeping generalization) the best or brightest. They were usually reasonably intelligent and sociable. They DID want to make lotsa coin, and education was a means to that end. It wasn't like the hard sciences, or even pre-law where a deep probing incisive brain was required and encouraged. Moreover, as Fleck and other repeatedly pointed out during the Bubble run up, a lot of these guys mistook the bull market for brains; and many still have an inflated opinion of their analytical abilities. I don't need to name names, you know the kind of people I'm talking about (oh, ALRIGHT, start with the KGB (Kudlow, Galvin, Fattypaglia), throw in Abby, Al Goldman, Blodgett and Meeker and you're well on your way)! But being right isn't the game, is it? The game is to make money for the homies, by hook or crook. But J6P is no longer willing to play (witness increasing money fund outflows) and his overseas counterparts are getting a little tired of losing tons of dough to the Ugly American croupiers. It's clear we've followed the Japanese debt implosion path, and also clear that NOTHING will turn it around. The only real questions are 1) How long will it take 2) how bad will things get 3) what other hairbrained schemes will be posed to "save" us from ourselves (Jay Chen put the last point in perspective beautifully, saying that the powers that be are "determined to save J6P from himself, even if it costs J6P every cent he has".
Are you back to trading yet? Still enjoying your ill-gotten gains from shorting CSCO? Back in the land of the CheddarHeads? I see the mighty Saints are playing the Vike-Queens tomorrow on ESPN, football RULES!
Regards
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