Finance has what? Gaming? That's it, folks. The modern mind has brought that ontology forward as the main coherency for our future selves, culminating, one might say, in 'fairy dusting quant' applications.
Well, it stinks even though millions play the game daily, and all sorts of technology has been developed to make the game interesting.
At the end of the day, people lose. Big time. Those who gain change our norms (or try to) into accepting greed, huge payouts, large expenditures, and overall troubles.
So, can we do it better? Well, yes. The world needs it. That will be discussed.
01/29/2009 -- Earlier, there were some words put here about Truth, Fiction, and Finance. Well, pick up the 1/28/09 Wall Street Journal and look at an article about a 'proliferation' of ponzi schemes. We all know about Madoff as he mis-handled a lot of moeney over a long period of time. But, a lot of states are finding that they have a madeoff/ponzi going on within their borders. How much of finance is a sham?
The WSJ mentions that the hedge funds' claims to high returns is one possible cause as people try to duplicate that. Sort of a Jones' keep up thing, we can suppose. Well, a reading of hedge fund tacits raises all sorts of suspicions to the rational mind. Just how legit are these things and why are they even allowed? Are we that much into some mass insanity?
10/21/2008 -- Yes, it's time to re-look at this theme.
07/31/2008 -- It's not enough to rant and spout off. So, let's start something constructive by looking at money and what it is.