Unidian wrote:No one is disputing that he's rational in the general sense. He seems intelligent and perfectly capable of understanding and constructing logical arguments and so forth. What I'm suggesting is that he is attached to money. That is a matter of character more than of rationality.
Nat, there may be some truth to that, and I will consider it carefully.
My interest in the events of yesterday, though, was because I thought it might be the start of something big (worldwide recession), not because of the impact on my own investments.
Philosophaster wrote:One of the interesting things about the Internet is that it makes it incredibly easy for people to find and contact a subculture of others just like them, reinforcing their own feelings and beliefs, no matter how bizarre or dangerous those may be.
It sets the traditional notion of "society" on its head. Not only is the contact you mentioned made, Philo, but it can be done in a completely anonymous way, so that the outcome of such meeting can occur without the feeling that there will be consequences or repercussions. In other words, a personality that is an empty vessel can become filled with little or no oversight. There have always been loners and misunderstood people who feel alienated; in the past, it has not been quite so easy for such people to find out how to build fertilizer bombs and procure the ingredients for making them. Maybe karma has become a little too instant.
daybrown wrote:Ok, the markets are lower cause they are selling out taking profits. hmm. What are they doing with the money?
There's a mad dash to cash. Look at Treasuries and the USDX. Treasury yields have plummeted due to high demand for safe, high-quality debt. The dollar held up well considering the Fed's surprise rate cut, showing high demand for dollars.
Lots of big investors liquidated positions to cover others. Mutual funds sold shares to generate cash for investors selling out. Bears moved to cash to cut or avoid losses and wait for good buys later.
Spoze, that since it was all digital to start with, that it never existed in the first place?
Sort of. It existed digitally as credit but poor losing bets (sub-prime, derivatives, etc.) destroyed it. The Fed's trying to replace that credit by cutting interest rates. The big threat is a deflationary spiral, not hyperinflation.
DHodges wrote:My interest in the events of yesterday, though, was because I thought it might be the start of something big (worldwide recession), not because of the impact on my own investments.
