How the Market Made Us Stupid

christian11 at mindspring.com christian11 at mindspring.com
Mon Mar 19 13:55:20 PST 2001



>Four trillion dollars is a lot of money. It is the entire annual output of Britain and France put together. It is also the amount
American investors in high-tech shares have lost over the past 12 months - and that's before their losses in the rest of the stock market. The entire rickety American economic success story has rested on a crazy stock market boom so that even taxi drivers were trading in dot.com stocks and running up unparalleled levels of debt because they felt so wealthy. Now they are left, like the rest of America, >with the debts and worthless stocks.

Wow, even taxi drivers? No!

Yes!

Unbelievable!

I heard on Letterman that they even let prostitutes have tech stocks. They even let them borrow money.

No way!

Way!

And now they are gone? For good? Worthless?

For sure, dude. As if into a black hole or somethin'. It's like, totally, like bozed. My parents are, like, gonna sell my Nintendo, 'cause Sony stock is, like, literally, worthless.

Whoa.

Yeah, that's what I said.



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