Thursday, March 27, 2008

A critical mind

My son and I are driving to the Rotterdam office of Fondad, to fix some IT problems (he, not me). My son studies physics but still has a keen interest in economics.

"I find it ridiculous that banks can let public institutions pay when they incur large losses," says my son.
"You are right," I say.
"I find it ridiculous that people make such a problem about falling stock prices."
"You are right," I say.

My son considered studying economics. Next year he wants to study theoretical physics. To what use will he put his critical mind?

The picture of him and me is of about ten years ago, during a holiday in France. I read today the article in Le Monde Diplomatique and will refer to it in one of my next posts.

1 comment:

Herman's said...

No concerns about falling stockprices? It depends if you own them or not, and how old you are...I sold a piece of farm equipment once for a reasonable price and decided to buy stocks for the revenue to let the money work for pension savings...hmm, one week later one stock disappeared completely in the 90ties crash and the other one lost 75% and eventually was sold for 25% percent of its original purchase price 5 years later, the third never really recovered to even 50% in ten years time so out of the original investment of $7000 10 yrs down the road only $1500 came back. That puts a different perspective for me on falling stockprices. There's no guarantee, anything can happen. My stocks were in one billion dollar sized companies,(technology)commonly referred to as midcaps, I believe.
Pensions tend to be important when you reach retirement age...it's not all about institutions or other more or less anonymous entities.