Assuming they aren't swindled en masse, as happened before the stock crash of 2001. Virtually every major brokerage house was in on that, pushing worthless stocks on investors as "hot buys."
Do you know if any of those involved in that every recieved any real time behind bars? If there were real consequences for such crimes, they wouldn't happen anymore.
If the interest rates were high enough, this would happen, most likely. But for most people, the time-value of money impels them to spend rather than save. I mean, it's subtle, people wouldn't recognize that's why... but it is. This is why using the government to alter the economy is extremely dangerous even in small amounts. Everything affects everything else. We change the entire shape of society with every law we pass.
Comments 3
Reply
Reply
If the interest rates were high enough, this would happen, most likely. But for most people, the time-value of money impels them to spend rather than save. I mean, it's subtle, people wouldn't recognize that's why... but it is.
This is why using the government to alter the economy is extremely dangerous even in small amounts. Everything affects everything else.
We change the entire shape of society with every law we pass.
Reply
Leave a comment