I’ve never claimed to be a financial genius. Hell, I can barely manage a household budget. That being said, I think I could give Wall Street a few pointers at the moment.
If, as appears to have happened recently, someone has no job, no income and no assets, don’t give them a home loan.
If you see a bank is making those sorts of loans, don’t buy their shares or go into business with them.
If, as happened overnight, the share market loses 1.2 trillion dollars in one day, you have a problem. Particularly when no-one seems to know where it’s gone.
I don’t understand that. Today you have 1.2 trillion dollars. Tomorrow it’s gone. Where did it go? the back of an all-mighty couch? Did someone hack into the US credit card and buy 400 billion plasma screens to watch the grand final?
I have to come to the conclusion that it was all a big house of cards. All those financial geniuses telling me I should invest my money in stocks and bonds rather than running shoes were full of hot air.
Incidentally – if you were wondering, a trillion is 1,000,000,000,000 dollars. That’s a lot of money. If you had a trillion dollars and you spent 1 dollar a second, it would take you 31,600 years to spend it all. The US stock market spent it all in one day!
John Gray, from the Guardian says this is “a shattering moment in America’s fall from power“.
GOSH!
Running
12.75km this lunch-time. It cost me nothing.
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