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Monday March 19, 2001

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Lock, stock and big money barrels

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Last week, Americans could hardly tear their eyes away from the financial channels as the NASDAQ and Dow Jones fell more than 100 points. It was horrific to watch, as those new to investment watched their retirement or college funds dry up and blow away.

But was the market dive worthy of the attention it received? The answer is a resounding no, and the behavior of Americans last week only supports the idea that most are obsessed with money and are incapable of enjoying the massive wealth they already have.

Perhaps it is the new culture of investment that has precipitated this obsession. A whole new generation, who previously thought investment was out of their means, are buying into American companies. Technology has also enabled the general public to have greater access to the stock market. All that is needed is a computer, an Internet connection and a credit card. Everyone from the CEO to the school janitor now has money in stocks.

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