Mike Burr - log

[BT®] Leverage is wealth redistribution

Ok. I'll elaborate.

If people have the freedom to leverage themselves up to the armpits and strike it "rich" with some risky investment, they are BOOOOOOED by the angry mob (mmm, sour grape jealous).

But when that scheme blows up, or in strange times when half of the schemes are blowing up, the folks that collect on those positions (that would be the evil rich guy, who's now selling his houses) are different people. So different that they're talking the opposite position of "rich guy".

Ergo, redistribution.

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