Re: Conspiracy #645 -- or the way it is

[Evan Daniel Ravitz <evan@xxxxxxxx>]

Not knowing a lot of economics, I can see that putting one's money
in a socially conscious fund (as I did when I had more $) is better
than putting it in a local bank, but isn't local better than
multinational?

Evan

On Wed, 10 Nov 2004, Ralph Shnelvar wrote:

> Dear Evan:
>
> On Wed, 10 Nov 2004 16:21:23 -0700 (MST), you wrote:
>
> >
> >http://www.solari.com is great. -Evan
> >
>
> No it isn't.
>
> Evan, you're a great guy and you're smart.
>
> This kind of thing is completely worthless for a wide variety of reasons.
>
> 1) Even if 600,000 people pull all their money (let's say it's $50,000 each
> on average ... a vast overestimate) that amounts to a whopping $30 billion.
> Yawn.  That's 1/3 of a day's trading on the NYSE.
>
> 2) Even if the money moves, where do you think it will go?  Banks will lend
> it back to the very people to whom the money was pulled out.  There will be
> a tiny blip as money moves around.
>
> 3) Money moves around.  It is liquid.  It goes to the highest rate of return
> _especially_ if you don't specifically control it.
>
> 4) Like "Don't buy gas this Sunday", this is a harebrained scheme to put
> pressure on the markets.  It will not make news and it will have no effect
> on markets or local economies other than to send dimes to the "My Dime is
> Powerful" campaign.
>
> 5) The biggest effect this scheme and its promotion will have is to
> disappoint the people who make the dislocation in their financial lives once
> nothing happens.
>
>
>
> If people want to have a real effect (and make money, too), invest in
> "socially conscious" investment funds.  For instance, see
> http://www.socialfunds.com/.  Whether you're a bleeding heart liberal or a
> gun toting redneck, there's a fund for you.
>
> Ralph Shnelvar
>