3 ms·

There is a relevant quote apparently from the 1920s. "Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day's financial news

• jbay808 6y ago
  But these days we do expect every cook and taxi driver to be in the market, because dollars in a savings account are getting returns below inflation.
  • diegocerdan 6y ago
    Agents are forced to play to avoid getting robbed by inflation thus wealth is transfered to owners from no-owners. Luckly for the working class, nowadays everybody can invest with a cheap smartphone and their little capital thus there is nobody to rob from and the system collapses.
  • leppr 6y ago
    That's the real tragedy of this uncontrolled fiat money printing. Any way you cut it, the poorer one is, the lower the % of assets to cash one owns (all the way to 0). Small bouts of token helicopter money don't fix this. Bitcoin doesn't fix this.
• esja 6y ago
  The original "shoeshine boy" story featured Joe Kennedy (as the speculator), father of JFK.