Losing in the Stock Market costs more than money

One of the amazing things I've run across in the research and promotion of "Crazyman's Economics" is that people who brag about how much money they've made in the markets don't care about those who lose money.

They claim it's their fault they lost their money. They didn't do the proper research, they trusted the wrong people. Look at the report Wall Street put out earlier this week. They said it was human nature that caused investors to be too greedy when things were going well and panic too soon when things got shaky. (Translation: It's not our fault, it was the investors' fault.)

In fact, we've asked dozens of people who made money one question: "Where did your money come from?" Almost every single one of them, from guys in the coffee shop in Veedersburg, IN to afternoon host Tracy Jones on 700 WLW in Cincinnati say the same thing..."I don't care." 

But we should care, because the costs of human suffering associated with people losing everything in the markets is an under reported story. We've heard of daytraders losing everything, 25-year old software company owners being millionaires one day and broke the next, and we shrug our shoulders because they "should have known."

But what about the people who were just trying to provide for their family? Those who wanted a comfortable retirement? Part of our mission is to put a face of common people who did what they thought was the right thing and lost everything. If you know people like Jim, let me know. The more we put faces to Wall Street's wreckage in the pursuit of greed, the more we can force the MSM and Congress to address it. Jim's story is true and legit. His is one story. There are millions more.

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Comments

we need some details

While many of us agree in many cases Wall Street is more like Las Vegas and even a Ponzi scheme or the old shell game, I hope you write the details, specifics of why you believe this is.

For example, the guy who got fleeced, while I believe it, it certainly happened badly to many, many people from 2001-2003 time frame, the details of how it happened is not well understood.

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