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.

I think you guys misunderstand. I'm fully aware of bartering and "precious metal" style currency systems, but those are far, far from what we have now, and I wanted to know what specific implementation Michael had in mind. I'm not sure if my suggestion would qualify or not, but then I'm not offering myself as a financial expert either.

1

Ban the Bear

1

1

1

Ban the Bear

1

1