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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (48134)	2/21/1999 10:45:00 AM
From: wlheatmoon	Read Replies (2) \| Respond to of 132070

Keynes is right. Life is ironic in that regard. A poor man could use with more, but can't gamble to get more because he doesn't have much to lose and to lose any may mean to lose it all and have nothing. A rich man doesn't need more. Yet he can gamble and possibly have more when he doesn't need more at all. A loss to a rich man may mean nothing to his lifestyle. Life really is 'funny' that way. I'm sure most poor people don't find it so amusing. Maybe we really do need a socialized society. If not that, we do need some way to balance the spectrum. Gates doesn't need and couldn't possibly spend his $60 billion or whatever. Yet, if he would or could give every single American family $50k with a median income below $10k, he could spend $50 billion dollars on 1 million people. That'd be cool, eh? I'm not sure what that would do in the long term, but in the short term, we'd have 1 million very happy campers. -g- I know, I know, life is not fair and there is some social value in terms of advancement with greed and fear and poverty. If we all have what we needed and have no wants, we'd never figure out how to be 'better'. We'd all just sit on our pile of comfort like Burke and be a couch potato. :-) mike

To: Tommaso who wrote (48134)	2/21/1999 11:49:00 AM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

T, One of the reasons I hate bull market highs is that the people do not save money and start over. And they sure don't read "Silas Marner." <g> They sit around and write to their Congressmen to pass laws against the crooked bankers, brokers and money managers who allowed them to act like chumps. This happened to me earlier in this decade. I was writing notes on Pridigy about CEFs and Asia in particular during the peak of the mania for emerging market funds. I was saying get out, short them, buy America or Europe or somewhere established. I caught a lot of crap from the "all the growth is in Asia, you moron," folks. Then the area crapped out and I recommended buying some of the previously premium CEFs at deep discounts. I started getting letters hassling me for being so irresponsible as to have suckered folks into these scams. <g> Not only was I not guilty, I was on the side of the angels. But once a mania pops, the losers lose a ton and are totally irrational. When they asked, "why did I lose money?", they seem to be in Dracula's castle. No mirrors. <g> MB