alton_lust (alton_lust) wrote,
alton_lust
alton_lust

Just FYI on the whole Wall Street thing?
If you already know the jist you may skip my stumbling explaining!

So what exactly happened? i dunno. but approximately...

Say a Normal person buys a video game from a store and it cost $100.

Rich person steps in & says, "Can I borrow that for a month and then give it back to you?"

Normal person says Ok. Richy runs to the store & returns the game. They figure that in a month it will be on clearance for $20 because no one wants it. They will then return the game to Normal and /pocket the $80 difference/.
In one month Richy expects the price to go down to $20.

But wait, THIS time other people hear about this and decide to go to the store and buy up ALL of those same games! Now there is no clearance!
Worse yet, now Richy still has to find one of those games! Richy runs to eBay where people are now treating it like Tickle Me Elmo (whatever) and the prices are sky high!
Richy is going to have to pay thousands when they expected to pocket $80. Richy throws a fit.

Because Richy loves to gamble but refuses to lose, because...Rich.
Subscribe

  • power and corruption

    Wow. Just...wow. And how appro that Loki is in the middle of his "Is not this simpler? Is this not your natural state? It's the unspoken truth of…

  • das boot

    LJ is acting weird and shutting me out for no reason. WTF Coworkers are making noises about my new boot. After asking around the general feeling is…

  • Healthcare. Things you should know

    Hey, y'all did hear that the republican plan does away with the mandate that businesses with more than 50 employees have to offer healthcare...Right?…

  • Post a new comment

    Error

    default userpic

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 2 comments