Ladies and Gentlemen, I understand that theoretically, the noted PostGlobal panelists know absolutely everything. Still, I must lift my hands and tell you: I haven’t the faintest idea why the financial markets are falling, and why they’re falling so sharply. From the position from which I am able to observe the financial markets, it seems that no rules govern the markets whatsoever, at least none that the trends seem to comply with. But maybe the only rules that can hold up are so complex that I severely lack the knowledge to understand what’s going on.
This sweet ignorance is probably ok as long as I stay away from the stock exchange and leave it to the experts. But then when I try to understand large-scale changes in the global economy, I find myself at a loss. Which brings me to my answer; if you still want to hear it, I hope you’re sitting down. Here it is:
I am absolutely certain that we should not care about the financial markets at all. Those people who try to make fortunes through buys and sells at the churches of money in New York, Tokyo, London and other financial capitals are doing something that is absolutely unnecessary for most of us. The majority of women and men in this world make ends meet through very traditional means: by getting paid for everyday work. Consequently, when the winds change and the markets boom or bust (as always happens sooner or later), the majority of people hardly notice the good or bad news.
Unfortunately, the fate of these people -- us -- is tightly tied to the health of the economy in the United States and other “developed” (meaning strong) countries. But this tie is generally a social one. Health care, social institutions, projects for the needy, etc. The only reason I pray for the health of the stock market is an uncertain hope: when there is a boom, the state may have a little more room in the budget and spend a little more money on the aforementioned services that actually matter to me.
Otherwise, I don’t give a damn -- sorry, dear bankers, financial barons and other money movers. But you do not need my sympathy or support anyway.
Please e-mail PostGlobal if you'd like to receive an email notification when PostGlobal sends out a new question.
