It bears mentioning – as often as possible, to as many people as possible – that the exact same greed that got us into the current economic crisis with the shady profit structures of the Subprime crisis is what drives “the Markets.” Keep in mind whenever you read or watch news reports about how “the Markets” just don’t like the Obama plans, or how they lack specificity, that banks are publicly traded companies. Of course the market goes down regardless of what the president says: no matter what he says, anything realistic is going to suck for the banks and the markets.
If you’ve ever wondered why I’ve stopped posting articles about the stock market to the news section, this is why. We have been conditioned by the media and their corporate handlers that “confidence in the marketplace” is the only thing we’re supposed to care about. It’s a crock of shit. The markets are where rich people get richer by betting on “the ponies.”
