Thadeus Thornton III

Preview from Europe: Stocks Go Cliff Diving Again

I guess I would be a little more broad minded here. Not ALL of the people you label here fall into this category. Like I said, some people need to depend on the "social" contract" of the people advising them. And they should be able to. After all, most employers won't offer a defined pension anymore. So an employee is left plunking his/her money into whatever 401K plans that are offered. They have no choice. If a person is a machinist, a nurse, a trash collector, factory worker, etc: they have no choice and somehow are supposed "bone up" on financial terms and the socio-political things that affect the markets? Besides, I didn't triple or quadruple my gains in any of my investments. And neither did anyone else I know. Most people lost any gains of "irrational exuberance" in the stock market "raid" of 1999 - 2001. It took me almost six yeas to get back to even.

Preview from Europe: Stocks Go Cliff Diving Again

The Daily show is worth the read here. Ain't it the truth! I used to watch CNBC. How can these guys say they are experts when they didn't see the stock market sell off and raiding (1999 - 2001) that had been pumped up with all the poor "home owner" individuals that pumped it up with money in their 401K and 401B plans? And now this takes the cake. More "Expert" advice from CNBC gurus and the peopel they pick to air their expert opinions. Rubbish. . . sadly rubbish.The "Big Boys" will whine and scream about being taxed too much, but sure are there when "tax payers" money is being offered!

That being said, many people also put their trust into the "social contracts" that the finance, real estate, investment, and other so called professionals promote and sell. Where was truth in advertising and sound advice from the financial gurus? It couldn't be Madison Ave. advertising and the desire for investment bankers to get big bonuses here that might be a little more at fault also, could it? Then lets blame the home owner, individual, and his/her irresponsibility or ignorance. I don't think so. IMO.