The Greater L.A. Skeptics Meetup Group Message Board › Financial markets built on faith !
North Hollywood, CA
finance is a crumbling belief system .
From the Empire Report .
It's all built on faith, as fragile as the religious kind, the belief that something is worth something because it comes with a piece of paper with reassuring words and numbers written on it, because it's traded, rated, and insured, because someone will sell it and someone will buy it. The same market psychology, the same herd mentality, that went into constructing this house of cards built on pillars of greed can cause the house to collapse in a heap. But the Monopoly players keep their bonuses, and bow out with multimillion-dollar golden parachutes; while tent cities are springing up all over America.
Is this any way to run a society of human beings?
from: The Empire Report of Oct. 1, 2008
by William Blum