September 29, 2016: Facade
I tuned in to Get Rich, Now! hoping to get rich, now. The host was tall, dark and handsome and was dressed in a navy blue pin-striped suit, red tie and a light blue shirt with french cuffs held together by shiny gold cuff links. In his strong, reassuring voice, he began today’s episode by saying, “If you want to know how the economy will be doing six months from now, see how the stock market is doing right now.” I recalled my old economics professor teaching us bright eyed students of the fundamentals of the stock market – that the price of a stock reflects its true value of what it contributes to the economy. So Mr. TV must be right. After all, he looked rich, so he must be speaking from experience. Anxious to get rich, now, I went to my computer and saw that the stock market is booming! This was my moment, I needed to seize the opportunity. I put in all my savings into the stock market, confident in Mr. TV, my old economics professor, and the booming stock market. I was about to get rich, now! After I got off the phone with my stock broker, I laid back on the couch and waited for the money to come flowing in. I turned the channel to the news, where I saw Mr. News on TV reporting that the country’s biggest bank just collapsed, and that the last 5 minutes witnessed the biggest stock market crash since the Great Depression in the 1930s. But…. but what happened?! What about my savings?! Was it all a facade? Mr. TV, the economics textbook, the stock market, my stock broker – all of it. Now how will anyone know what the economy will look like in 6 months?