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It is really hard to hear that these people have lost so much money.... but then again if I look around my neighberhood most of the people are really stupid and believe everything they hear and see without thinking themself. They vote and invest without thinking... so.... is it then there own fault?....
depends. investing shouldn't be that hard.in a sound economy you don't have to predict huge turmoils and 60% downturns.if you see a business which is successful and needs capital you invest - everybody's happy and nobody was particularily smart.unless it is only successful because of false signals because of a monetary bubble
@ the poster aboveWhat do you mean with a sound economy? Do you mean then a stable money supply without bubbles popping all the time and without all the malinvestment?
Yes. Bubbles are caused by (in the USA's case) the Fed and govt. and their unsound fiscal and monetary policies. In a stable economy where a country's money is backed by something of intrinsic worth, gold for example, bubbles are non-events.I agree with the first blogger. People (I have found) are REALLY REALLY stupid. They have lost the ability to THINK for themselves. It is very frustrating trying to get people to understand that our problem is debt. They do understand that the only way to get out of debt is to contract, work harder and pay off debt, but when it comes to the govt. they can not see the same connection. I believe that they are personally in such sad shape financially that they are waiting for the govt. to "fix" the economy for them, while all the while it keeps digging itself deeper and deeper in debt.