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Nasdaq and old age - To escape the Dark angel 403
The markets today are for day traders - and by day is meant some fraction of the day as many times over as possible during the period from 9:30 to 4:00.
There's hardly any rational explanation for the gyrations we find in the charts. Whether an index opens 50 or 150 up or down is no indication where it will end or how far it will go the other way how often during that 6 1/2 hour span. Lots of trading which could all be on the same money. Players are attempting to prove Wicksell's suggestion that a ten pfennig piece - if it moves fast - enough can cover 95% of the transactions. So market insiders are using that same ten pfennig piece to swing 5 billion equity transactions a day. . . AND, in a self-regulating environment, they can do so without fear of bumping into a regulator who'd accuse them of rigging the board.
There are few serious investors to be found in this atmosphere. They will have returned when you find the bond market firming up, not before. And, since bond markets have gone weak, equities have had their minor skirmish and are played out, and that leaves a lot of frustrated money players who are waiting for either the curtain to fall or a show of strength elsewhere in the world so they could migrate with their money from hot spot to hot spot.
That is not about to happen in the immediate future.
As for the oldsters many of them have truly withdrawn from that frenetic circular race to nowhere rather than try to keep up with the energetic market gamblers who are giving the twenties a good name. We produced 4 boomers which I'm proud to say are and have all been contributors to the society. The realization of the worth of next generation citizens, be they "boomers" or "millenials" "X generation" or "U-pick-it", is in what is expected of them. Too precise an expectation and disappointment follows, a clear vision of who they are after they finish feeling their way through the formative years is a much better way to judge them. Give them a chance to live and adjust. We all need the chance to develop ourselves. And, most parents are surprised how productive and adjusted they've emerged from the confusion life tosses at them during development.
As for gated older- folks’ communities: when my in-laws were in the first half of their eighties, their son took them to a community a stone's throw away from the son's house and tried to persuade them to move there. They were non-committal to the son, but privately, my father-in-law confided to me, "And, what do we do in that community with all the old geezers kicking off all around us. I can't think of a worse way to spend a day. I want to see young people in action." The two of them generally made sense, except when their attention was directed to the young fellow who stole their daughter away. They were not formally educated.
That's the way it with the older folks back then - practical education ruled most everything. My Bachelor’s degree was awarded form a "snooty eastern college" with 532 in the graduating class - immediately post-WWII. Today that school must have close to a hundred thousand students, not an unusual number. Yet, I've met older folks who came up through the trials of life who served the community with no more than a public education, maybe with a high school diploma, who had the practical answers to what the community wanted and what they needed and performed several decades in public service and were honored at retirement – and again when they passed on. . . all, deservedly so.
Life delivers new challenges when your principle concerns are trying to adjust to a new diet compatible with changing metabolism and hormone re-balances, lost weight, and chills at any temperature under 80 degrees duw to loss of muscle. Even seventy year olds have trouble undertanding this. Some fotunate oldsters may have a degree of exemption from these vagaries of ageing.
For a period of time, education became a big thing under theinfluence of the WWII GI Bill of Rights in the United States. Later when younger folks who escaped service in the armed forces due to age witnessed the benefits of an education, they began to work for lowered admission standards and remedial classes for their children. It got the children into classes, but, adjustments were needed to accommodate lower SAT scores. Of course, the schedules had to be lightened and the regimens for the variety of disciplines went lax. Now, degrees are so plentiful they mean less than they did, (another form of inflation, we might note) and human resource directors comb through an army of applicants with the wish for the candidate whose aptitude is apparent and unmistakable - that's the one in a hundred thousand.
At one time the challenge of staffing a special group of people for an important assignment was dropped on me, the requirements were six selections with extraordinary - near-indefinable people wit special improvisational skills. After an initial filtering, a large group of survivors were given a shot of getting along with the forming group and handling assignments. Well, over a hundred candidates were anxious to jump the hurdles before the staff was finalized. I will concede they are - were - very special people. But, very special people are in very short supply and not all of them have college degrees. Yet, they are out there. One attribute that disqualified applicants immediately was the "mood" you describe, the grudge-bearers.
And, one thing about older folks, the younger generations don't hesitant to remind them every day, in a thousand different little ways, that senility is expected of them. It begins when they are still in the workforce. That's when they begin visualizing going off into gated - or senior - communities to preserve some dignity.
Some of us, like my father-in-law, find no need for that. He carried his own brand of dignity.