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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (66338)	7/20/2005 12:37:34 AM
From: shades	Read Replies (1) \| Respond to of 74559

HAHA, I want you to come to palm beach one day and look at a pretty closed social system of "idiot sons and widows" who just cycle wealth from one generation to the next. After time they just become so disconnected from the rest of the world, not a good thing if you ask me. It stifles the innovation and creativity that gates and jobs are so fond of I believe. Never having a need to EARN money or understand value - they lose the psychology required to keep wealth. In a similar fashion: I remember a guy at georgia tech working on a paper showing how we were dumbing down our citizenry by making all the technology so "easy to use" that our citizens were becoming idiots without any fundamental understanding of anything. The research focused on consumer technology products and computer software and design - but I think he was on to something. Slagle and pearly button seem to know a lot about industrial and residential electrical systems, when that technology was new - how many users of the technology were familiar with the fundamentals as compared to today? I know a lot of electricity users that are very ignorant of basic fundamentals - but specialization is the key to our economy. I meet people here in palm beach that are paying 400-500 US dollars to have a 15amp outlet installed, going to home depot and paying 10 bucks and doing it themselves is beyond them - they are very specialized in thier field or work however - title insurance, realtor, doctor, factory supervisor - hehe. I had a contractor come out to a house a few days ago to wire a 30amp outlet for an air conditioner - he installed a 20amp and wondered why it would not work. I found out he had just come from brazil and had only been here a month, his cousin got him the job - home depot hired this contracter that in turn hired this guy who knew almost nothing. I wonder how many homes in this area this guy has worked on. How many financial people are the correlation of this? Sloshing clients money all around without any basic fundamental understanding of what they are doing??? I have a friend that manages about 120 million bucks, I think he is a total fool and spends way too much time chasing women and shopping for the latest fashion trends than tracking markets and economies, he loses a lot of money, but as soon as one sucker pulls out 2 or 3 million because he has lost 500K - some new sucker pumps in a new wad of wealth - I thought this guy would be out of business years ago - but a new sucker is born every minute - hehe.