Year 2008 was a disaster for Middle Income group and for investors. People lost Money, homes, jobs and their way of living. The people who had gained from investments in few preceding years saw the tsunami of debacle wiping out gins within a span of few months. However seeing the things so closely, it did make me think as to what lessons can be learned from the entire episode of collapse. I realised that the only lesson which can be learned, is to live without debts. That must sound incredulous to most. Actually there are billions of people who still do not borrow besides the other millions who are in debt right upto their nose. Continue reading →
Grifters, Thugs, Conmen, Swindlers or Scamesters, by whatever name called, follow one principle that the people who do not know how to retain their money, do not deserve to possess it. They utterly lack any center of morality, when it comes to money. A person with money is their target or the mark. Grifter works by generating confidence. Once the mark or target trusts the grifter, the move is made to accept the asset moved by mark under confidence.
Sound familiar? Not yet? Wikipedia defines this trick or scam it as:
A confidence trick is an attempt to defraud a person or group after first gaining their confidence. A confidence artist is an individual operating alone or in concert with others who exploits characteristics of the human psyche such as dishonesty, honesty, vanity, compassion, credulity, irresponsibility, naïveté or greed.
The corporate grifters rob people with two kinds of justifications or explanation:
1. It is the market force or something beyond their control
2. It is just an unintentional error which never happens. Continue reading →