Skip to main content

Virginia Tech: a needless massacre?

You've probably seen the news of the horrible shooting spree that took place on the Virginia Tech campus today.

When I saw the first reports this morning around 9 am, one student had been shot and the brief summary of the incident noted that the university web site was instructing students to stay in their dorms. Soon afterwards, the shootings started up again and over 20 students were killed.

All this occured while the school was on "lockdown" mode, with entrances to the university blocked and students isolated inside their dorm rooms.

I don't usually comment on the tragedy of the day, but in the case of these latest school shootings at Virginia Tech, I feel compelled to post something that someone else wrote.

In light of this latest tragedy, I thought back to a post that I'd seen at the Mises.org site in March about the students that died while trapped in their school during an Alabama tornado.

In that instance, school and local officials herded kids into school hallways and refused to let them leave the building; eight kids died and more were injured when the tornado hit and the walls caved in on the kids and the parents who tried in vain to get them out.

Here's an excerpt from the Mises.org editorial, "Planned to Death":

Yes, some parents have spoken out against the decision of the school to keep the kids corralled in a trap of death. But their complaints have been shot down by the "responsible" voices of the officials in charge. Meanwhile, news has slowly leaked out that other schools in Alabama have a different policy: they shut down the school and tell the kids to get the heck out.

This is an unusual approach. The whole culture of emergency in this country seems to be predicated on the notion that people do no know what is best for them. They need authorities to tell them what to do. And whatever they do, they must do it in concert. Masses of people must be shuffled this way and that, and no one should be permitted to have any choice in the matter.

I don't know if this latest event at Virginia Tech has all the hallmarks of the "sitting ducks" scenario that befell the high school students in Alabama, but I think that this aspect of the tragedy is one of the most important elements to be explored. At least for those concerned with human safety and the rights of the individuals whose lives are at risk in such a situation.

Popular posts from this blog

Nasdaq credit rating junked.

S&P cut Nasdaq's credit rating to junk status citing debt burdens and its questionable strategy to buy a controlling interest in the London Stock Exchange. Financial Times reported that the exchange's counterparty credit & bank loan rating were lowered fromm BBB- (lowest investment grade rating) to BB+. The change will increase Nasdaq's borrowing costs should it wish to pursue aquisition targets. For an earlier look at the exchange consolidation trend that brought about Nasdaq's push for a stake in the LSE, please see "Exchange fever" .

Jesse Livermore: How to Trade in Stocks (1940 Ed. E-book)

If you've been around markets for any length of time, you've probably heard of 20th century supertrader, Jesse Livermore . Today we're highlighting his rare 1940 work, How to Trade in Stocks (ebook, pdf). But first, a brief overview of Livermore's life and trading career (bio from Jesse Livermore's Wikipedia entry). "During his lifetime, Livermore gained and lost several multi-million dollar fortunes. Most notably, he was worth $3 million and $100 million after the 1907 and 1929 market crashes, respectively. He subsequently lost both fortunes. Apart from his success as a securities speculator, Livermore left traders a working philosophy for trading securities that emphasizes increasing the size of one's position as it goes in the right direction and cutting losses quickly. Ironically, Livermore sometimes did not follow his rules strictly. He claimed that lack of adherence to his own rules was the main reason for his losses after making his 1907 and...

Finance Trends 2019 Mid-Year Markets Review

Email subscribers of the Finance Trends Newsletter receive the first look at new articles and market updates, such as the following piece, sent out to our email list on Sunday (6/14).   Hello and welcome, everyone! If you received our last email notice over the July 4th holiday, you'll know that this weekend's newsletter will serve as a mid-year market update and a follow-up to issue #29, " How to Reinvest in a Rising Market ".   Ladies and gentlemen, without further ado, let's start the show...  Finance Trends Newsletter: Our Mid-Year Market Review When we last spoke, back in February, the U.S. stock market was rallying off its December-January lows. As the S&P 500 and Nasdaq reclaimed their 200 day moving averages in February and March, it became increasingly apparent that a lot of retail investors (and perhaps some institutional investors) were left under-invested while watching this recovery move from the sidelines.  The U.S. stock ...