I have always condsidered the stock market white collar gambling. I'm no prude. I see no problem with gambling — if you have the money to burn — but that many in the wood-panelled halls of high finance think that they are above all others because of the careers they chose is maddening. What may be more maddening is that part of their ill-placed perceptions are partially correct.
Money, as the song and cliche go, makes the world go 'round. If the Financial sector controls the money, then logically they're controlling how the world moves. Right?
Don't want to say it, but it's true.
So if that's the case, then we could argue that the world is being governed by whimsy: capricious turns on Wall Street. Because, how could anyone, regardless of their level of intelligence, make a truly educated decision regarding market strategies immediately after the release of any specific world or local news?
And look at how this short-term, reaction-oriented mentality of "The Street" has seeped into the zeitgeist of American culture.
Hell, this blog is a perfect example.
But what this posting marks is the beginning of a possibly short-lived, hopefully short-lived, personal quest to understand the sociology behind the Markets, and how the markets sociologically impact our culture.
Why? Because what's happening in the markets today — hell, what's happened over the past ten years with run-ups from "irrational exuberance" and their susequent collapse — scares the hell out of me for the short and long term, and I wonder how to prepare my kids for going out into the world ten short years from now, when they're technically adults, with the right to vote and die for their country, but not purchase alcohol. Go figure.
Comments? I'd love to see some.
Next posting: a little update on what I find in the next couple of days.