Thursday, May 15, 2014

Ready, Set: Speculate! You Poor, Lazy Bastards

Staff Writer, R. Patrick Chapman
Finance / Banking

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the warning from legendary stock market speculator Jesse Livermore that speculation is “not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.” And, yet, speculation has become the economic model for a nation of stupid and mentally lazy speculator-taxpayers. They also discuss splat collateralized debt obligations and fracking Walden Pond to pay off our bad debts. In the second half, Max interviews Steve Keen, author of “Debunking Economics,” about housing bubbles, falling wages and why Mom & Pop investors are always wrong.

Source: Keiser Report