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They did that with tulip-bulbs once. It did not work out well. The securities market isn't a place to have fun, it's a vital machine on which all our prosperit
by whybroke 12y ago
They did that with tulip-bulbs once. It did not work out well.
The securities market isn't a place to have fun, it's a vital machine on which all our prosperity depends.
Treating stocks as a blind gamble means money is not chasing the best investment but is being scattered randomly or by easily manipulated rumors.
Anyone who buys stock as a blind gamble should be deterred. Not to protect them but the rest of us. The same way children shouldn't play with matches; I don't care about burning their little fingers off I care about burning the house down.
So no, it's not like Las Vegas.
- drjesusphd 12y ago> [the securities market is] a vital machine on which all our prosperity depends. I'd like to see evidence of this.
- whybroke 12y agoI am no lover of the current system and would love to see it changed to be more equitable. But for better or worse as things stand right now, stock markets and prosperity, even of ordinary people, are apparently very strongly correlated. Ideally fixing them should not plunge the world into recession (or worse). Where there are inequality issues, surely the safest thing is to just adjust tax rates and social spending to fix those. Viewing securities exchanges as a possibly useful machine that needs watching is much better than turning it into to a gambler's play ground for no good reason.
- drjesusphd 12y agoEven if you provided evidence of said correlation (you didn't), it still doesn't imply causation. The economy doing well could cause the stock market to do well for all I know. It was said that our economic prosperity depends on the securities market. Im calling bullshit, and simply repeating the claim doesn't make it more true.