2. BCC Before Credit Crisis 3. 4. Now 5. 6. 7. Before __________________ Now
Credit Cards- Debt
8. 9. The money was never really there
Robert Shiller, an economist at Yale, puts it bluntly: The notion that you lose a pile of money whenever the stock market tanks is a "fallacy." He says the price of a stock has never been the same thing as money -- it's simply the "best guess" of what the stock is worth.
"It's in people's minds," Shiller explains. "We're just recording a measure of what people think the stock market is worth. What the people who are willing to trade today -- who are very, very few people -- are actually trading at. So we're just extrapolating that and thinking, well, maybe that's what everyone thinks it's worth."
Shiller uses the example of an appraiser who values a house at $350,000, a week after saying it was worth $400,000.
"In a sense, $50,000 just disappeared when he said that," he said. "But it's all in the mind."
10. 11. 12. 13. 14. 15. 16. 17. THE DOMINO EFFECT ONWALL STREET 18. 19. 20. 21. 22. CREDIT CRISIS- STICKY SITUATION 23. FIGHTING TO STAY AFLOAT 24. DO NOT COLLECT 200 DOLLARS
do not pass go.
25. MONOPOLY- ARE YOU LOSING OR ARE YOU WALLSTREET?