Monday, October 20, 2008
Just another Market "week".
America, while not the economic power it once was, is still the richest nation in the world. Yet average Americans have virtually none of the wealth. Thomas Jefferson was prophetic when he stated, “If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and the corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered .”
Damn, wish this ol' trader was as articulate as Thomas Jefferson was. Luckily for me I found some time to pick up one of my favorite read's today. The House of Morgan found it's way back to my eye. Yet, I couldn't start from where I last left off, instead I had to skip my way forward to the chapter titled"Crash". Seems as though history does repeat itself, no matter how hard we try! From what I've read, seems as though the ones that were the least leveraged were those that survived the rough times. If I must buy, let me buy with my own cash, not dollars borrowed! That is all the wisdom ol' reddirt has to share for now. Good luck with all your trades!
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