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Friday, October 24, 2008

The Mogambo Guru Minces No Words

And now inflation in the money supply as an "economic good" has, predictably, failed again, and former Federal Reserve chairman Alan Greenspan is the filthy bastard who did it to us this time, while his successor Ben Bernanke and his odious, low-IQ "economics PhD"-ilk infesting the nation's universities share the blame for their erroneous active participation and encouragement due to their complete lack of any real insight or intelligence.

As a result of the latest failure of a fiat money that has resulted in ruination, just like all the other experiments with a fiat money have ended in failure for the last 2,000 years, the S&P 500 is now down to where it was in 1997, which is 11 long years ago, which means that everybody who bought the shares of the S&P500 since 1997 has lost money both in nominal terms (since the price of the shares has gone down), but also more in real, inflation-adjusted terms, because in the meantime the US dollar has declined in value by about 60%, meaning that everybody who was stupid enough to think that they would make a profit by "buying and holding" stocks over the long-term has now lost 60% of their buying power! Hahaha! Morons!

Once again, the overwhelming majority of schools that teach economics, or any other scientific discipline for that matter, never even noticed that it is mathematically impossible for the majority of investors to make real, inflation-adjusted money by investing! Everybody puts one dollar into the market and then everybody takes two dollars out? It's insane!


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