by jboogy » Fri 15 May 2009, 10:37:32
patience wrote
$this->bbcode_second_pass_quote('', 'O')n topic, I would not bet in either direction on the stock market, since we are seeing the most manipulated market in history
you just said a mouthful. This market is completely de-coupled from reality. The problem is that money in a strange way is going to automatically find it's own place to park, (mutual funds, money market funds, etc.) based on short-term performance ie. stock price movement trends, that are not grounded in traditional stock performance indicators like ....oh I don't know...PE ratios, outstanding debt, potential for future earnings, etc.
plus you have a lot of heavy hitters that now use the market as their own personal pump and dump playground.
You have the entire financial sector rallying based on taxpayer re-capitalization while refusing to mark to market hundreds of billions( at least ) in toxic CDO's and leveraged to the hilt derivitives that they are trying to pretend don't exist. This is truly bizarre how out of whack unregulated capitalism can get.
You have a lot of individual small to medium sized investors that simply have no place to put money, partnered with brokers who are so desperate for a recovery they tell clients to buy, buy, buy based on any movement up or down, or no movement at all.
Then there's the uber-positive talking head cheerleaders on TV that think a bloody stool in the morning is a sign from GOD that the market has bottomed and you by GOD better hop on board the gravy train right now or you'll be left at the station, dick in hand, while your wife and luggage go on their way to paradise without you.
Anyone who still endorses completely unfettered free markets is a complete idealogue who has mastered the third grade art of holding their hands over their ears and saying ; " na, nin, na, nin, nyah, nyah, I'm not listening "
Perhaps the population would be less swayed to socialism if we had fewer examples of socialism from our "Free Market Capitalists". -----fiddler dave