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dennyc
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Doug Casey on "Occupy Wall Street" - Doug Casey - Casy Research

Mr. Casey talks about 'real economics'. I might be wrong; but I haven't seen real economics at work for a long, long time and I'm certainly not buying the argument that it is principally government intervention which has caused the damage to pretty much everything financial over the last few years, although gov't has definitely participated in the Great Unwinding. Mr. Casey is correct in referring to the 'sophisticated thieves' who call themselves businessmen, but incorrect in claiming that many in the 1% got there through hard work and good investments. He gives the impression that thrift and hard work still pay off. Not these days, I'm afraid. Hard work and savvy investing were the keys to reaching the 1% at one time, but, sadly, not anymore. The old tried and true methods of investing in companies which produce something have gone the way of the horse and buggy. What is in its place at this point is the Great Unknown - What does one invest in anymore to guarantee something to fall back upon in the future? Investing today seems to mirror the predatory vicissitudes of the financial thieves themselves. Investing, unfortunately for many of us 'small time investors', has devolved into a crap shoot. Goldman betting against itself and earning money? Give me a break. Too many hard working, savvy investors were simply WIPED OUT by the scams of those calling themselves "Financial Experts" or Financial 'Specialists'. A great and overpowering reticence has descended upon those who once believed in the once solid idea that one invests in equities to protect one's wealth. Mr. Casey seems to be hinting at cleaning house. I heartily agree. Markets in their natural state are risky enough, but when you add larceny, extortion and mendacity to the mix, it makes for a potent explosiveness which will keep potential investors at an increasing distance.

Commented 4718 days ago

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Beginning of the headline :L: I'm sitting in Doug Casey's living room, inCafayate, Argentina, far, far from Wall Street, which is being "occupied" by protesters with a very clear message. Doug, as a prime cut of meat on the"eat the rich" menu, would you like to respond? Doug: I assume you're being sarcastic about the clear message, but one can never tell in today's world... Read More

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