Derivatives – Big Time Gambling
Posted by Pete | Posted in News | Posted on 17-05-2012
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The futures market should be done away with, shouldn’t it?….. I like to gamble once in a while, and I do, and I usually lose. If I do win it is never a big dollar amount…. So, I limit my gambling ’cause if I did not I would lose every thing….both dollars….J P Morgan loses 2 billion on derivatives….gambling…..with other peoples money…Now that is what I would like to do…..so if you guys will send me 15, 20 or even 100 dollars each, I will get into some form of derivatives….I don’t know, maybe how many times I can hit a pay out on a slot machine….or maybe get into a poker game of high stakes….or maybe invest in oil futures or hog bellies (that always amazed me that people would or could invest in hog bellies), orange juice or cotton, or zinc…..Hey, Mr. J. P. Morgan investor, how about a couple of hundred thousand in my web site here, betting on its future…..oh, ok, well yeah, I am kinda old….Well, nevermind…..Pete
The prevalance of big time gambling in this country in the modern era goes back to the difference between the greatest and the sorriest generation. The Greatest Generation (WWII generation) was extreamely poor, but practically all members of it were willing to work hard for a better life, which they finally achieved and passed it on to the next generation. On the other hand, the sorriest generation, who is currently running the country, was born with the achievement in hand (with a silver spoon in their mouths); consequently the members of the sorriest generation will not work at anything, preferring either handouts from a generous government or easy money at the gambling tables. We might yet have a great country if the country survives the sorriest generation. If it doesn’t survive it, then USSR here we come.
thanks for commenting. good points..