I've watched the markets gape and shit bricks, recover only to collapse and then collapse further and I've kept my mouth shut about it all. The markets seems to wait for some "good news" from the media that everything is grand, something that will somehow guarantee that they won't lose a cent in their daily grind....or they'll wipe out a shitload of wealth in one day.
I mean seriously...for a market that bitches that externalities don't allow the market to work the way it was intended it sure looks to me like the market actually looks to externalities for its inspiration on what to do next.
Take for example this little tidbit: Dow plunges on news recession began in Dec. 2007
Are you fucking kidding me? The market tanks and erases all of the previous progress of the past few weeks because something told them they were already in a recession? What changed from Friday to Monday? Was the market somehow in ignorant bliss which allowed it to flourish the past year (before all the bad news)? Or was it due to the actual value of products within the market? No...it flourished because it thought things were great. And now it's tanking for the opposite reason.
Nothing actually changed to make the market drop 680 points in one day...just the news of it did.
Is this what free market supporters think is a responsible, adult way of handling trade and commerce?GONNAFISTYA wrote: It seems most people completely forget that market reactions to events can be directly equated with fussy children freaking out over the smallest things and that markets move with a "crowd behavior" (ie. not done with forethought or approached rationally). For prime examples of this check the current price of oil or any stock market collapse in history.
Just askin.