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  • user warning: Table './conserva_drupal/cache_filter' is marked as crashed and should be repaired query: UPDATE cache_filter SET data = '<p>STOCK MARKET: &Aring;ugust 27, 2015</p>\n<p><img alt=\"\" src=\"http://www.conservativechronicle.com/sites/default/files/Greenberg.gif\" style=\"width: 300px; height: 116px;\" /></p>\n<p>&ldquo;So you&rsquo;re not a bit nervous? The market was down more than a thousand points at the opening Monday and almost 600 at the close. Don&rsquo;t you read the papers? Open, Feldstein.&rdquo;<br />\n &ldquo;Nervous? Me? Never. It&rsquo;s not the market that makes me nervous. It&rsquo;s the papers. With their big headlines and to-do. Stocks Plunge Early! Sky Is Falling! Listen, O&rsquo;Malley, I was born in Europe. Now that&rsquo;ll make you nervous, believe me. I ain&rsquo;t had a nerve since I made it past Ellis Island in 1921 &mdash; February 10th. It was a bright and shiny morning, and I ain&rsquo;t seen a cloud since. America is the best nerve tonic in the world. Not a bad investment, either.&rdquo;</p>\n<p> &ldquo;YOU MUST keep all your dough tied up in cash. More than a trillion dollars in market value disappears in a flash and you don&rsquo;t break a sweat.&rdquo;<br />\n &ldquo;Why should I? It wasn&rsquo;t my trillion dollars, or yours neither. Or anybody&rsquo;s. Just thin air. Tell me, what is this market value you&rsquo;re talking about? Something is valuable only if you can find a buyer for it, right? And I didn&rsquo;t see any buyers in sight Monday. So why worry? If the Chinese have to sell us their junk cheaper, that&rsquo;s good for us, right? If they become dependent on us instead of us on them, that&rsquo;s good for us, too. So why worry? Let the Chinese worry. They&rsquo;re good at it. What are you, some kind of Donald Trump, always predicting disaster? You want worry? Worry about having him as a president. Now that would be a real disaster, not just a headline in the paper.&rdquo;<br />\n &ldquo;I don&rsquo;t know about you, Feldstein. The Shanghai Composite Index was down more than six percent early Monday morning. ...&rdquo;<br />\n &ldquo;Shanghai&rsquo;s got a Composite Index these days? That&rsquo;s some Communist country they got over there. With a stock market yet. It&rsquo;s like the Bolsheviks overthrowing the tsar in 1917 and the first thing they do is establish their own Bourse and cafe society. Tell me, O&rsquo;Malley, if this is Communism, what would capitalism be? I&rsquo;d forget about stocks just now, and bonds, too. And those pawns. Capablanca considered that in 1918, and thought better. Just relax and sit tight. It&rsquo;ll all work out. It has every time before. For better or worse or in between. Who remembers now?<br />\n &ldquo;Listen, I went through the Crash in 1929 and didn&rsquo;t hardly notice it, things were so much better here than in the old country. It&rsquo;s like Will Rogers said, this stock market thing was a great game, but, after all, everybody just can&rsquo;t live on gambling. Somebody has to do some work. My own secret is to buy some stock, hold it till it goes up, then sell it. And if it don&rsquo;t go up, then don&rsquo;t buy it.&rdquo;<br />\n &ldquo;I guess you&rsquo;ve got a point there somewhere, but who can tell what it is? What are we doing here, playing chess or the market? Your move.&rdquo;</p>\n<p> AND SO THE game went on &mdash; on the chessboard and on the Big Board. And the sky still didn&rsquo;t fall.</p>\n', created = 1576445036, expire = 1576531436, headers = '', serialized = 0 WHERE cid = '2:31c8e924c540e5ad51369f493da8125b' in /home/conserva/public_html/includes/cache.inc on line 112.
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A game of chess

STOCK MARKET: Åugust 27, 2015

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