Emotion. Fears. Confusion. Unknown. The professional investors of America have recently proved that our economy is not unsusceptable to real disruption by undermining the basic principles of investing. The people who are supposed to keep the markets stable by investing for the long term and staying calm when novice investors' emotions cause fluctuations in markets, have failed miserably. Or have they? Even they can not accurately predict what will actually happen. No one can, and they admit to it. They admittedly contradict themselves. The monster is unleashed, and 'The Man' is forcing everyone, including professionals, to cut their losses and call it a day....even if it means utter destruction. This is scary stuff, really scary. W's head is so deep in the sand he can't even hear our calls' for help. And the Fed, the beast who was created to keep the markets stable and to prevent large recessions, is seeming increasingly politically pressured to save the short term and is unable to do what is right...Its job.
http://money.cnn.com/2008/03/17/news/economy/fed_response/index.htm
Well why would the administration want to admit that some shit went down under their watch? People might look unfavorably at their efforts [amidst some of the worst approval ratings, ~ 33%, of all time].
ReplyDeleteAt least my employer compensates me with direct deposits of gold in to my TD Banknorth safety deposit box bi-monthly [i f'n wish!].