Fixed Markets, Sunscreen, Bert & The Devil's Been Outsourced

John C. Lee, whose Weekly Technical Commentary is one of our favs, comments on our latest soapbox...

Ridiculous system, isn't it?

All I can say is there is no free lunch and for every action there is a reaction. People at the top seemed to have forgotten the very basic principles. Another short-term fix for a long-term disaster.

Do you think the financials will continue their sell off on Monday? (provided that the gov't doesn't do something crazy over the weekend)


In "This market is fu**ing rigged" John asserts:

The worlds largest hedge funds managers: US Treasury & The Fed.

What is the point of having fundamentals or technicals when the gov't now exerts its hand into the financial markets?


We concur and once again, further a question whose answer is obvious, and leads to one of our mantras:

What do Adam Smith's invisible hand of the free market, peak oil and the Yeti have in common?

Answer: They are all unprovable urban myths.

Mantra: There are no free markets, and NOTHING in this world is FREE.

To answer John's question: We do know one thing for certain, the central banks will have the printing press running overtime, from now till doomsday...

Take it from Baz Luhrmann's classic "Everybody's Free (To Weat Sunscreen)...

Accept certain inalienable truths, prices will rise, politicians will philander, you too will get old, and when you do you’ll fantasize that when you were young prices were reasonable, politicians were noble and children respected their elders.

or take it from our good friend Bert with whom we also concur, who insists, and invokes Don Henley:

Further to the point, Nattering One, during the stock market crash of 1929 and the ensuing Great Depression...

at least the CEO's whose abysmal decision-making led to those financially catastrophic events had the decency to leap from the windows of tall buildings to their certain death.

Today's criminally guiltless CEO's are rewarded for similar failures with golden financial parachutes guaranteed by the American taxpayer which they happily accept with open arms.

The land of opportunity has "spawned a whole new breed of men without soul" as Don Henley describes in his classic song, The Garden of Allah, a tale in which the Devil visits a large Western City (Los Angeles) and finds that he has become obsolete.


From Don Henley's The Garden of Allah...

It was pretty big year for predators
The marketplace was on a roll
And the land of opportunity
Spawned a whole new breed of men without souls
This year notoriety got all confused with fame
And the devil is downhearted babe, cause
Theres nothing left for him to claim

He said its just like home
Its so low-down I cant stand it
I guess my work around here has all been done.


Ah yes, Satan has been outsourced, in this depression, even the fallen one has fallen upon hard times. Truly a devil may care world, don't you think?

Comments

John C. Lee said…
you're the economics expert. thanks! linked your response.
Marsha Keeffer said…
Yes...and in this scenario I also like The End of The Innocence....
When happily ever after fails
And we've been poisoned by these fairy tales
The lawyers dwell on small details
Since daddy had to fly
But I know a place where we can go
That's still untouched by man
We'll sit and watch the clouds roll by
And the tall grass wave in the wind
You can lay your head back on the ground
And let your hair fall all around me
Offer up your best defense
But this is the end
This is the end of the innocence