economics { iTuplip.com

Ran across the site after seeing this clip below on boingboing:

I may have to watch this site more often. I'm looking for a good source to help me understand that emotional, irrational beast that is Wall Street, especially since my employers over the years have saw fit to make me 'in control of my own money' by putting my retirement funds into the stock market.

People are wringing their hands and spouting DOOM since entities like the DOW Jones are down. Well no shit. Predatory sub-prime lending never seemed to make sense to me with what minimal economics I understand and now those who practiced it have to pay and sadly they're taking the rest of us with it. Remember the .com boom? Funded by hype. We had to pay in loss of jobs and erosion of various professions.

I don't trust the stock market and I don't think I ever will. Its based on emotion and greed. Very little is put into looking into cause and effect, or into the long term future. Its all about profit taking and the now. I wonder if there is a way to divorce our economy from this irrational machine?

I really likes these guys after watching a few of their 'Zombie Financial Media' clips:


AllThingsSpring said...

The phrase I have heard that best fits our economy of sub-prime loans, post-cheap'n'easy fossil fuel energy, global climate change aware world is this:

'hallucinated wealth'

AllThingsSpring said...

James Howard Kunstler had some commentary on the first video.