Friday, November 6, 2009

The markets II - There ain't no such train

Moral: Wherein we have to say that there ain't no such a train, folks, just like there's no free lunch (TANSTAAFL); all this clambering otherwise is from those who stand to gain from picking our pockets if we board their train to nowhere.


Earlier, we had a brief introduction here to market ideology and its realization in casino capitalism. As we saw, there were many uses for a market, one of which is establishing value. Except, didn't we see this year the bankers, and others, arguing with the law makers to get a relaxation of marking to market? Ah, markets as the ultimate thing to manipulate seems to be the idea for these people.

Now, that we're at some type of crossroads, again, due to all the support after the failure from people like Big Ben, and more, it may be time to start a little review of the past year. This will be brief and continuing.
  • The Liar's Poker author weighed in on the problem last year (11/11/2008). He telling the tales of those, like the culprits. Last year, who knew that the low would be seen in March to be followed by a bear, and perhaps sucker, rally. Granted some have made money (see next bullet), however the issues of near zero (actually less than zero for the most) remain to be look at in detail.
  • So, some have made money in the market this year (see GS, for example). Many may be beginning to wonder if a train might be leaving (has already left) the station and if they ought to board (or have been left behind to forever rue the loss). Suckers beware is the topic of a Tech Ticker talk now that everyone wonders what to do. The message ought to be that we don't need this type of marketeer meddling (actually, racketeering), folks. We actually never did; it's a clever means for those who can to suck the essence from the pockets of us all.
  • Now, given the wisdom of crowds, how can all this baloney keep recurring, folks? Oh, wait, hasn't the Fed, et al, made money easily available for bailout purposes for decades? That finance (heart) has to pump money (blood) is a given, but we have a body that is just covered with leeches.
Why use the train as the metaphor? Well, it has been used in the news, so expect that we'll continue to use it.

Also, what has not been explained is that, in some cases, one person's gain is another person's loss. And, in some cases, for the gain of one, many lose. There are difficult issues to address.


03/05/2013 -- Ben reigns, but the savers' faces are bruised from his slapping.

02/01/2011 -- The chimera shines.

10/28/2010 -- Warning, train wreck ahead. What train, I had asked? Yes, there is already a wreck, despite the inflated market (those who lost big are still behind).

10/25/2010 -- Capitalism, as known now, requires an endless supply of suckers.

03/20/2010 -- The basic problem of capitalism is that the Made-offs are its chief representative.

11/20/2009 -- Societe Generale is getting negative?

11/07/2009 -- Actually, there is a train, or, at least, we can use the train metaphor to discuss the economy's purpose and how finance has evolved into a problem (in medical parlance, not unlike a cancer) within that purpose. Bankers are too used to their funny money world (see Remarks). Ben, wake up!

Modified: 03/05/2013

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