Quote:
Originally Posted by GrantMercury
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The 1% at the top need someone to pint the blame at. In reality they are completely to blame for the present trouble we're in. In fact it might be slightly more or a lot less.
What happened was a 2008 version of the 1930s crash. A market inflated so far over it's true value, it would only take a small knock to bring it down. What ever way you look at it, that's the truth. The Banks and other gamblers had forced up the paper price to a level they could not cover.
The hole created was huge, the bailout didn't cover it, just steadied the market. Too many looked at the DOW, NASDEQ and FOOTSIE to see the health of the economy. Just because FB shares are trading at $22.86 it doesn't mean the company is worth that or will ever be worth it. For it's real value
http://www.nytimes.com/2012/07/27/te...ions.html?_r=0
Now idiots will tell you what they might do, could do or what the tooth fairy tells them. $22.86 is a huge gamble on a horse that has no chance of coming in.
And that in a nutshell is why 2008 hit you like a sledgehammer. Yet crazy gamblers are doing it again.