>> Well, interest rates are starting to go up, so maybe wait five years.
[LAUGH] Now here is a fundamental issue about rationality.
And most people are not financial wizards,
as your question implies.
And so what should we do?
Should we have the government invest for them?
Somehow there's something wrong about that, too, because the governments
don't have a particularly good record of deciding how to investments either.
The United States has been an example of capitalist institutions going way back.
We have had lively stock markets and
other kinds of speculative markets.
People have lost money and had been taken advantage of over the years.
But on the other hand, it produces an atmosphere of attention
to business that produces a general culture of sympathy to business.
If you invest in businesses, then you'll be less likely to vote for
a strong man leader who will corral businesses.
So the US has set an example to the world about.
Just letting some of these things happen.
So you've got this guy,
Thomas Edison, with these electric lights, he might be a nut, who knows.
But some people invested in him.
And there were other stories that didn't work out so well.
But on balance, over 100 or
200 years the US system has looked
pretty good and it's become spread.
I mean, not just the US's but I'm saying having free markets and
involving people at large in some investing decisions,
it has worked out well, even though it doesn't work out well for everyone.