SEARCH BLOG: ECONOMY
I recall when the tech stocks were booming, especially those vaporware and internet stocks. I tried and tried to see the value, but couldn't find it. My wife was convinced that we were missing the proverbial boat, so she took a little of her own investments and plunged into an investment that at least had some possibilities... one of those if-come deals.
Well, the tech stocks tanked and so did her small investment. She eventually got about half of her money back, but it was a lesson that most of us eventually get handed to us. When things are just too good to be true... they aren't.
Now we read that the housing market, fueled by cheap and undersecured mortgages, is going to take a lashing as those flaky sub-prime loans cause the once looking-good-quarterly-earnings lenders to look pretty stupid. Housing prices were going to continue to go up unabated so those risky loans would be covered no matter what... not.
Let's see, what else might be getting a little out of whack? How about a currency held up by foreign creditors? How about an economy based on importing everything? How about a social system where the rules are ignored and anybody can walk in and get the benefits of the society? How about a compensation system that pays a few people a lot for selling off the value of previously sound companies... and putting a lot of people out of work?
Just asking.
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