To: Dwight E. Karlsen who wrote (30075 ) 10/15/1999 11:11:00 PM From: Casaubon Read Replies (1) | Respond to
I disagree. It's not what people did. It's what big money, smart money, did. People are fully committed, so there's noone left to sell to, accept the poor working schmuck, who pours every cent he can into his 401K on the hope he will be able to afford a few years of peace in retirement. I don't know anyone pulling the money out of the market (and they should). Hardworking people are about to get fleeced, once again, because they get bullsh*$%ed to on a routine basis, by con men in political office, banks, and mutual funds. People react last, because in reality noone is looking out for thier best interests. Hey, I know it's buyer beware and all that, but the people who are entrusted with your investment dollars should have a responsibility to invest wisely. Bankers should have a responsibility to fund business that have a chance of being here two years from now. People think that contributing their money to a mutual fund every month makes investing safer somehow. They're programmed "think long term". Trouble is noone ever tells you how the statistics are massaged to look right. Well, a year ago I peaked under the hood: you know, when the engine siezed (no oil). Crap, I'm no Phd economist. It took me a year to figure out what is mostly right and mostly wrong. Does every person in the country have to spend a year of their life figuring out what to do with their money. I mean a solid year, almost 6 hours a day, maybe more. And now I know when the engine light goes on that means it probably needs oil. A YEAR!
