Tuesday, September 27, 2011

Excitable boy, they all said.



The take-away quote:

"For most traders we don't really care about having a fixed economy, having a fixed situation, our job is to make money from it," he said. "Personally, I've been dreaming of this moment for three years. I go to bed every night and I dream of another recession."

And he doesn't mean that in a bad way.

It might seems a little nihilistic that he's endorsing people try and make money from an economic collapse.  But I'd have to go for sociopathic.  There have been studies about the mentality of traders (yes, that headline said "psychopaths").  The gentleman in the clip doesn't actually empathize with anyone who might lose their savings because, hey, they are the suckers who didn't plan, right? Or maybe it doesn't matter why he doesn't have empathy, although I might offer some speculation, if I chose.  What matters is that this might be a good example of the people who are running the economy, why the economy needs some brakes in the form of regulations and why we can't expect the market to be self-regulating (because these folks might just be crazy).

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