let it fall!

macphearsome · 02-18-2009, 08:25 PM

my buddy is one of the few people that I know who seems to get excited when the stock market takes a plunge. He's been following the markets for years and he always told me this would happen. I never had reason to doubt him, and here we are.

His attitude on the topic has always frustrated me, especially considering that I worry a lot about my own future and I hate seeing riots on TV... but he explained himself the other day and I suppose I see his point.

The other day he was at the mall and he saw all the twelve - to - sixteen year olds hanging out at their favourite store, wasting money, wasting time, getting their nails done, stupid bullshit. "These people need to learn a lesson about money" he says.

Personally, it's not my favourite perspective on the crisis, but it has its merit. The next generation is wasteful, consumption-driven, greedy and heavily branded. Maybe the one good thing about an economic crisis is it'll wake us up.

just his two cents.

xchoicex · 02-18-2009, 08:39 PM

screw waking up people... i want to afford a bite or two....

TokeChaChe · 02-18-2009, 08:53 PM

The thing is that people who have money to spend will have money to spend in the future too. Just runs in the family I guess D:

Yana Usdi · 02-18-2009, 09:01 PM

Don't count on that. Lots of people are finding that when they lose a current job there's nobody out there willing to offer them another at the same salary. If your money is inherited and you're sensible about investing you might be safe enough but if you count on being paid it's a lot less secure than most of us imagine.

The idea of let it fall I don't have anything intrinsically against, but it's a bit passive for my tastes. I want to push it down the stairs. But we've got to have a new system to replace it with first. Markets never have run on their own in a vacuum, they need some sort of a structure to function within and our current structure is rotten. If we don't have an alternative to set in place as the current system falls it could just get even uglier.

macphearsome · 02-18-2009, 10:39 PM

Quote:

Originally Posted by Yana Usdi

Don't count on that. Lots of people are finding that when they lose a current job there's nobody out there willing to offer them another at the same salary. If your money is inherited and you're sensible about investing you might be safe enough but if you count on being paid it's a lot less secure than most of us imagine.

The idea of let it fall I don't have anything intrinsically against, but it's a bit passive for my tastes. I want to push it down the stairs. But we've got to have a new system to replace it with first. Markets never have run on their own in a vacuum, they need some sort of a structure to function within and our current structure is rotten. If we don't have an alternative to set in place as the current system falls it could just get even uglier.

Good point, as always. I just finished reading Karl Polanyi's "The Great Transformation" where he argues some of the same points - that there is a structure to markets, and that has always depended on some form of social arrangements. Good read, I'd recommend it to anybody. (Keep in mind it was written near the end of the second world war)

Quote:

Originally Posted by Stigma420247

look at china...they had a shitty economy...they learned the value of money...they fixed their mistakes...now they own us....

I'm going to have to start a thread about China, because a lot of people seem to be sorely mistaken on a number of points. China doesn't own us. If China owned us, we'd be the ones working for subsistence income in factories that dump pollutants into our environment. Not that I'm proud of this, but it's the simple fact.

**Hashishi** · 02-19-2009, 08:14 AM

Quote:

Originally Posted by Yana Usdi

I want to push it down the stairs.

Quote:

But we've got to have a new system to replace it with first. Markets never have run on their own in a vacuum, they need some sort of a structure to function within and our current structure is rotten. If we don't have an alternative to set in place as the current system falls it could just get even uglier.

Which is precisely one of my main contentions with people who're screaming bloody murder about government cash injections.

I was reading a blog which satirises the BBC's 'Have Your Say' section which put it brilliantly:

Quote:

every saver in the uk banks should withdraw all their savings within the next 3 weeks,the thrifty and sensible people are being ruined by this imcompetant goverment, mpc, call it what you like, dont help them ,hit them where it hurts. this country is a total shambles.

-brownlookslikeafish

Take the essential concepts of a HYS post - I am the most important person in the world, I could fix everything with a simple gesture, My knee-jerk reactions are infinitely cleverer than a plan developed by a team of seasoned professionals, I have a nebulous hatred of the government and Gordon Brown personally - and this is the fractional distillation of them: 48 badly-punctuated words of such epic failure to understand I’m actually tempted to give it a go, just to be able to track down brownlookslikeafish as he stands in line waiting to pay a thousand quid for a loaf of bread and ask him exactly how he thinks an economy collapsed by a run on the banks makes this country GREAT once more.

Stigma420247 · 02-18-2009, 09:04 PM

look at china...they had a shitty economy...they learned the value of money...they fixed their mistakes...now they own us....

we will do the same...

Stigma420247 · 02-18-2009, 10:55 PM

well i gotta say im no expert on any of this political crap...so i could be totally wrong

im just goin off the crap i see on the internet and tv..and they where just talkin about how we are gonna be looking to foreign countries to help us in this "stimulus" package ...china inparticular....

if china's economy isnt doing well why would they loan us money to help ours ?

macphearsome · 02-18-2009, 10:57 PM

Quote:

Originally Posted by Stigma420247

if china's economy isnt doing well why would they loan us money to help ours ?

because if our economy falls, then we can't afford goods made in China! Do you think the CCP wants another 100 million unemployed chinese in beijing?

Stigma420247 · 02-18-2009, 10:59 PM

ahhh i get it...so they make th eshit...we consume... i see what yer sayin...they need consumers...so its in their best intrest to keep us spending.. .

never thought about that...

02-18-2009, 08:25 PM	#1
macphearsome seriously uninformed Join Date: Sep 2002 Posts: 1,332 Grams: 14,346.48 Thanks: 864 Thanked 848 Times in 448 Posts Stock Portfolio Total Value: 0.000 Gain/Loss: 0.000%	let it fall! my buddy is one of the few people that I know who seems to get excited when the stock market takes a plunge. He's been following the markets for years and he always told me this would happen. I never had reason to doubt him, and here we are. His attitude on the topic has always frustrated me, especially considering that I worry a lot about my own future and I hate seeing riots on TV... but he explained himself the other day and I suppose I see his point. The other day he was at the mall and he saw all the twelve - to - sixteen year olds hanging out at their favourite store, wasting money, wasting time, getting their nails done, stupid bullshit. "These people need to learn a lesson about money" he says. Personally, it's not my favourite perspective on the crisis, but it has its merit. The next generation is wasteful, consumption-driven, greedy and heavily branded. Maybe the one good thing about an economic crisis is it'll wake us up. just his two cents. __________________ "What if I want more than the pale facsimile of fulfillment brought by a parade of ever-fancier toys? To spend my life restlessly producing instead of sedately consuming? Is there an app for that?" - xkcd Dino image from www.qwantz.com

02-18-2009, 08:39 PM	#2
xchoicex Jr. Member Join Date: Jan 2009 Posts: 160 Grams: 2,085.40 Thanks: 232 Thanked 36 Times in 27 Posts Stock Portfolio Total Value: 0.000 Gain/Loss: 0.000%	screw waking up people... i want to afford a bite or two.... __________________ weed makes perfect things holy

02-18-2009, 09:01 PM	#4
Yana Usdi Dogs best friend Join Date: May 2004 Posts: 992 Grams: 14,642.00 Thanks: 1,106 Thanked 975 Times in 455 Posts Stock Portfolio Total Value: 0.000 Gain/Loss: 0.000%	Don't count on that. Lots of people are finding that when they lose a current job there's nobody out there willing to offer them another at the same salary. If your money is inherited and you're sensible about investing you might be safe enough but if you count on being paid it's a lot less secure than most of us imagine. The idea of let it fall I don't have anything intrinsically against, but it's a bit passive for my tastes. I want to push it down the stairs. But we've got to have a new system to replace it with first. Markets never have run on their own in a vacuum, they need some sort of a structure to function within and our current structure is rotten. If we don't have an alternative to set in place as the current system falls it could just get even uglier. __________________ "Give a man a fish, and he will eat for a day. Teach him to fish, and he will sit in a boat and drink beer all day." -Dan Moon Always be kind to animals, Morning, noon and night: For animals have feelings too, And furthermore, they bite. - John Gardner

02-18-2009, 09:04 PM	#7
Stigma420247 Sr. Member Join Date: Feb 2009 Posts: 516 Grams: 3,820.65 Thanks: 259 Thanked 207 Times in 107 Posts Stock Portfolio Total Value: 0.000 Gain/Loss: 0.000%	look at china...they had a shitty economy...they learned the value of money...they fixed their mistakes...now they own us.... we will do the same... __________________ Thought is free. - William Shakespeare

Thread Tools
Show Printable Version Email this Page
Display Modes
Switch to Linear Mode Hybrid Mode Switch to Threaded Mode

Hot Products:

Orange Krush - Legal Bud

Black Magic Solid Smokes

Vapir One Vaporizer