2007-08-10 20:10:37 · 7 answers · asked by Bob M 1 in Business & Finance ➔ Investing
Your friend must be pretty old if he remembers how stocks traded in the 1929 crash.
2007-08-11 04:41:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The government has little direct control over stock market performance and even less ability to "cover up" anything related to the markets.
However if you want to see a train-wreck in action, look at Social Security. This is a bankrupt pyramid scheme and it IS purely devised and controlled by the government, and its abject failure as an institution is being covered up.
God help us if the stock market truly does fail, because social security surely won't help us, even though it sprang from the ashes of the big crash of 1929. The irony is almost sickening.
2007-08-11 03:29:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Your friend is a paranoid nut. It would be impossible for the gov't to do such a thing. Yes some people in the gov't could try something illegal.... but anything on this large a scale would be seen by too many knowlegable people, some of whom would expose it.
In an free economy, even if some bad information was "covered up" the reality would have an effect on all of us pretty soon. If the oceans lost all their water and the govenment didn't announce it.... pretty soon everyone would know anyway.
Watch out for paranoid investors. They'll lead you too some very poor investments.
2007-08-11 07:45:05 · answer #3 · answered by Common Sense 7 · 0⤊ 0⤋
what is the name of the broker he works for -- i want to stay far away from them while seeking advise. first the govt is not covering up anything. it is a case of a group of innocent but poor money managers on one side and loaners seeking higher profits that is causing the problem. like every other downturn it will take time but the housing industry/markets will come roaring back - stronger because some if not folks will have learn a hard and costly lession.
2007-08-11 06:26:22 · answer #4 · answered by mister ed 7 · 0⤊ 0⤋
There really is no covering up. What is happening is only weak knee reactions to the emerging scene. The situation is neither so rosy and cosy as the Government is projecting it nor as scary as the Dooms Day pundits are trying to paint it. Be wary of market manipulators who want to decide market sentiments for you ,only to reap cash advantages for themselves.
2007-08-11 03:23:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If you have cash in a money market account even if it does crash you're insured by the government so you have nothing to worry.
2007-08-11 03:13:55 · answer #6 · answered by Pompous_Admiral 1 · 0⤊ 0⤋
yeah, probably...the gov covers up most crap that will scare your average, WASP voter.
2007-08-11 03:15:45 · answer #7 · answered by frecklegirl145 3 · 0⤊ 0⤋