Insight - Feb. 2nd, 2021
Insight
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03-Feb-2021
Is investing in the stock market gambling? Today on Insight, John and Josh Rosenstern address that question looking at the recent trading frenzy that involved the company GameStop and others. Brother Josh says investing in ownership in companies under normal circumstances is not gambling or sin, as many do with their 401k's. But the results were detrimental for some; as investor's coordinated purchasing the stock to artificially push the price up even though the company was not doing better. This “investing” was fueled by speculation and greed as GameStop went up 1600 percent. This cooperative manipulation, could cause the government to step in. Brother Josh says a created crisis often finds government being given a reason to step in. As Christians, we must be careful of everything we do. Brother John adds, if this results in government regulations on Wall Street, we will see it’s efficiency and opportunities lessen while depleting the ingenuity of economic solutions.
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