The Big Picture - Macro Perspective on the Capital Markets, Economy, Technology, and Digital Media

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Michael Lewis on Bankruptcy”

1. cfish Says:
   January 29th, 2009 at 3:03 pm

   You can’t blame people for devoting time on the markets if monkeys are making off like bandits, especially in this day and age of bankrupts social security and crumbling 401k. My parents would still be living paycheck to paycheck if they hadn’t invested in the past 30 years.

   The government encourages people to take risks and be responsible for their own retirement, and this is driving people of all background and skill set to trade on the stock market. Telling them “it’s not healthy” will not help a bit.

   Yes, it’s a waste of resources for society as a whole. But it’s because people do whatever maximizes their productivity. If trading doesn’t create crazy profits, people wouldn’t be doing it.

2. wunsacon Says:
   January 30th, 2009 at 12:03 am

   So true, cfish.