I'm involved in the stock market which is fun and sometimes very painful.
We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst and then we enter depression? Well some things are not different.
One of the funny things about the stock market is that every time one person buys another sells and both think they are astute.
Don't gamble take all your savings and buy some good stock and hold it till it goes up then sell it. If it don't go up don't buy it.
But if you look at WorldCom which is the biggest failure to date they grew dramatically they were buying companies that were bigger than they were and they were doing it off inflated stock.
We really haven't had very much experience with people funding their retirement out of the stock market and we don't know frankly how it would work under every scenario.
A very Faustian choice is upon us: whether to accept our corrosive and risky behavior as the unavoidable price of population and economic growth or to take stock of ourselves and search for a new environmental ethic.
My dad was a bartender. My mom was a cashier a maid and a stock clerk at K-Mart. They never made it big. They were never rich. And yet they were successful. Because just a few decades removed from hopelessness they made possible for us all the things that had been impossible for them.
My parents were working class folks. My dad was a bartender for most of his life my mom was a maid and a cashier and a stock clerk at WalMart. We were not people of financial means in terms of significant financial means. I always told them 'I didn't always have what I wanted. I always had what I needed.' My parents always provided that.
Anyone who thinks there's safety in numbers hasn't looked at the stock market pages.