To: SpudFarmer who wrote (38445 ) 8/21/1999 9:11:00 PM From: Maurice Winn Read Replies (2) | Respond to of 152472
Spud, a good reason for people not to invest their own money is that many of them have a lot of trouble coping with the simplest things in life. They find it better and safer to just pay taxes and have the state decide things for them. Something like half the population fits into this category. The other half prefers to give it a go and SI is full of people giving it a go. Many [probably half] would have been better off just leaving their money in the bank. About 10% of the population is probably doing a damn good job of handling their own money, making good decisions and generally know what they are doing. Another 10% are sure to feel pretty pleased with how life's going. Quite a few are simply lucky and do well without having a clue - like buying that fruit company, Apple, in 1981. It's now conventional wisdom to moan about the gap between the haves and have nots. But the gap must increase and will go on doing so at an increasing pace. The bottom of the heap is always at zero [or one breath above it]. Not many people are there, but there are always some. Then you get the median person and that level has been rising rapidly over the decades in real terms [how many and how good the car, radio and lunch they eat are]. But there is no upper limit. $ill Gates is leading the charge. Competition is the only limit. Also, governments and gangs can stop people doing things, as they do in Somalia, Rwanda, Yugoslavia and China as well as here and the USA, to less extent. But stopping people doing well doesn't help the median or last gasp crowd. On the contrary, stopping achievers makes all worse off. As The Web gets going, the gap will increase quickly. Those who are adept at participating in The Web will do well. The rest [the average] will continue to improve but the disintermediated individuals are going to feel bleak. They'll be Luddites despising The Web and likely declaring war on It. It will fight back! So, between those who want the state to run their lives and those who live by The Web, there could be some ugliness. Today's rant on It:Message 11029783 Mqurice