Monday, January 28, 2008

Market manipulation

Ben Stein asks Can their wish be the market's command?"

Key point:

"These traders, not economists or securities analysts, can turn the world upside down, make governments tremble, give central bankers colitis and ruin the lives of ordinary men and women saving for their children’s college education or their own retirement. In America today, it is the traders, not the politicians or the generals or the corporate bosses, who have the power.

This is what has become of the America of Thomas Jefferson. Lucky for the traders. Sad for the rest of us.

And one thing’s for sure: With the traders running things, it won’t be a good time for amateurs until the traders cry 'Switch!' and the market starts to rise."


Meanwhile, the circle jerks continue to have fun over at Cone's, all to no avail.

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