by Ted Rudow III, MA ( Tedr77 [at] aol.com ) Friday Mar 16th, 2012
Whether Wall Street was corrupted by greed and excess. More than three years after the financial crisis, the perception that little has changed on Wall Street — and that no one has been held accountable for the risk-taking that led to the crisis — looms large in the public consciousness. So, little by little, the skeptics are won over to invest their funds, to take a chance on making more money, for the rebounds are relatively quick and they do not feel too much pain. I’d never do such a thing—I’m smarter than that.”
And there is a rebound, for there are still people to be convinced that things will keep going up—indeed, must keep going up. They too must be won over and convinced to overextend themselves little by little. It is a gradual process of boom, then downturn, then bigger boom, then another downturn. The downturn will become a recession, the recession will become a depression, and the depression will become the Crash.
Ted Rudow III, MA