Ban the Bear

Eliezer Yudkowsky

I applaud the SEC's courageous move to ban short selling. Isn't that brilliant? I wonder why they didn't think of that during the Great Depression.

However, I feel that this valiant effort does not go far enough.

All selling of stocks should be banned. Once you buy a stock, you have to hold it forever.

Sure, this might make the market a little less liquid. But once stock prices can only go up, we'll all be rich!

Or maybe we should just try something simpler: pass a law making it illegal for stock prices to go down.

I applaud the SEC's courageous move to ban short selling. Isn't that brilliant? I wonder why they didn't think of that during the Great Depression.

However, I feel that this valiant effort does not go far enough.

All selling of stocks should be banned. Once you buy a stock, you have to hold it forever.

Sure, this might make the market a little less liquid. But once stock prices can only go up, we'll all be rich!

Or maybe we should just try something simpler: pass a law making it illegal for stock prices to go down.

"The capitalists are trying to save capitalism from the capitalists!"

Actually, if we didn't have fiat money that can be printed at will and interest rates were set by market forces and not a bunch of white men picked by the government, we wouldn't be in this mess.

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Ban the Bear

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Ban the Bear

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