Reply #88: The Reason Why Everybody Flocked To the CDO's and Such

[Demeter]

Greenspan destroyed the interest rates--nobody could get even a zero return when he dropped the Fed rates so low--inflation was eating up CD holders alive. So the choice was gamble in the crooked stock market--which is why so many lost everything in the dotcom, enron, etc frauds, or buy these high tech products, another form of fraud.

THERE WERE NO LEGITIMATE, HONEST INVESTMENTS OUT THERE!

The housing bubble distorted the real estate market. Student loans for kids who would have no chance at employment once they graduated, nothing worked anymore.

And nothing still works anymore. We have all these parasites, sucking Americans drive with their fees and penalties and outsourcing of real work.

Unless you grow a crop or sew a garment or build a machine or a house, or provide a useful service like health care or teaching, or fire protection, you don't PRODUCE anything. You are just a parasite.

And we have far too many of them, making far more money than can ever be justified, from the CEO on down.