Inside Job - See it and understand what the Occupy movement is all about

If you've not seen the documentary Inside Job you should!  Wikipedia provides the following description

Inside Job is a 2010 documentary film about the late-2000s financial crisis directed by Charles H. Ferguson. The film is described by Ferguson as being about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption."^[3]In five parts, the film explores how changes in the policy environment and banking practices helped create the financial crisis. Inside Job was well received by film critics who praised its pacing, research, and exposition of complex material.

Common Sense has posted on these matters previously.  This outstanding film provides a comprehensive summary of the outrageous conduct of large financial services firms, the corruption of government regulators, and the malfeasance of elected and appointed government.

If you've ever wondered what the Occupy movement is all about, this film is a must see.

Related articles

• Inside Job (scienceoftruth.wordpress.com)
• Ron Galloway: Is Your Documentary Film a Hobby? A Judge Thinks So (huffingtonpost.com)
• An Oscar-winning documentary investigates the credit crunch: We have five copies up for grabs (confused.com)

Stock market, social security, and presidential campaigns

NEW YORK (CNNMoney) -- Shares of daily deals site Groupon closed at $26.11, roughly 31% above their initial offering price in the public debut of the stock on Friday.
Groupon (GRPN) had priced its initial public offering at $20 a share late Thursday, the last step on a rocky journey to its debut. Under the ticker GRPN, Groupon began trading Friday at about 10:45 a.m. ET on the Nasdaq stock exchange, and opened at $28, 40% above the target.

Common Sense has commented from time to time on the foolishness of the stock market.  Here's yet another example.  Don't misunderstand, Groupon is OK.  In fact Common Sense has used the service from time to time.  What Common Sense doesn't understand though is how an internet company that has never made money, that has an intermediary business model that provides no value add, with very low barriers to entry, and competitors including Google and Amazon could possibly be worth $30 billion!  Common sense has clearly left the trading floor!

Of course, this kind of foolishness is nothing new and in the larger scheme not all that unusual.

Common Sense is mindful of several recent proposals by candidates who would be president to privatize social security by allowing some workers to invest in a stock market that values a company that has never made money, has a doubtful business proposition, and has strong competitors at $30 billion.  Common sense clearly need not be part of presidential campaign proposals.

Common Sense also notes that it was foolishness of this sort that lead to the collapse of the real estate market.  Perhaps we shouldn't repeat that experience.

Related articles

• Groupon IPO Cheers Valley, Wall Street (online.wsj.com)
• Groupon raises $700 million in initial public offering (oregonlive.com)
• Groupon launches IPO: Key numbers to know (cbsnews.com)