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Casino Capitalism

This article explores the risky practice of buying stocks on a margin during the 1929 stock market crash. It highlights the allure of easy profits and the consequences of market downfall. It also discusses the similarities between gambling and stock market speculation.

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Casino Capitalism

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  1. Casino Capitalism Some thoughts

  2. 1929 Buying Stock on a margin • Applying the formula of the time, a person with $6,000 could buy $60,000 worth of stock because all one had to do was put down 10% of the purchase price.  With a market going ever upward, who would have thought about "paying the piper" - that is, the rest (90%) of the purchase price - in the event the value of the stock "tanked?“ • Applying the formula of the time, a person with $6,000 could buy $60,000 worth of stock because all one had to do was put down 10% of the purchase price.  With a market going ever upward, who would have thought about "paying the piper" - that is, the rest (90%) of the purchase price - in the event the value of the stock "tanked?“ • https://www.awesomestories.com/asset/view/Stock-Market-Crash-of-1929-Buying-on-Margin

  3. Bubbles

  4. Gambling • Gambling is the attempt to make a profit by playing a game of chance in which a certain item of value is staked in hopes of acquiring the much larger return that one receives if one wins the game • Ancient practice • Common cross-culturally • Examples include… • Sports betting • Football • Horse racing • Casinos • Stock market • “Casino capitalism”

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