Markets and the SOTU
http://www.liberalamerica.org/2014/01/25/dow-falls-300-points/
President Obama is giving his State of the Union Address on Tuesday, and the pundits are saying that income inequality is going to be a large theme in the speech. So what happens to the stock market on Friday? Both the Dow and the NASDAQ tumble about two percent. We can argue cause and effect here. My thought? Manipulation. Terrorism. Theft. Again. The markets aren't nervous.
I know it's an easy sell to say that all this talk of "socialism" is bad for business. That's the point, or one of them. The market manipulators have a chance to send a message somewhat less subtle than a dead fish wrapped in the business section of the Wall Street Journal. This is just another huge chance to raid retirement accounts and pension funds, and steal more of the assets of millions of people. And to tell the President, "You got a nice economic recovery happening here. Be a shame if something happened to it".
Nobody in the McMansions is concerned about a drop of a few thousand points in the markets. Hell, they dream of it. They have the cash waiting to steal shares on the cheap. Meanwhile the rest of us have to think about our jobs, our retirement, food on the table, and the survival of the last scraps of our delusions that we have a democracy.
Meanwhile, progressives have their hands bound. Any and all of this burp in the markets will be thrown in their faces. To the banks and hedge fund managers it's another case of, "Heads, we win. Tails, you lose."
There is no threat we face today larger than this consolidation of wealth and power. I can picture the West Wing speech writers even now, scrambling to soften the message on Tuesday.
While the media makes us all alarmed about the effect of our "welfare state" on the economy, watch where all the money ends up. We've been had again.
Discussion on FB's Mangino page.
It's the day after the SOTU, President Obama said he would sign an executive order to bypass Congress and give a raise of the minimum wage to Federal employees to $10.10/hr, affecting almost no one. Dow is presently down 111 points. Don't say I didn't call it. It doesn't even have to be a real threat, or a devastating downturn in the market. Just a little blip, a little psychological reminder of who is really in charge. Watch this space.
President Obama is giving his State of the Union Address on Tuesday, and the pundits are saying that income inequality is going to be a large theme in the speech. So what happens to the stock market on Friday? Both the Dow and the NASDAQ tumble about two percent. We can argue cause and effect here. My thought? Manipulation. Terrorism. Theft. Again. The markets aren't nervous.
I know it's an easy sell to say that all this talk of "socialism" is bad for business. That's the point, or one of them. The market manipulators have a chance to send a message somewhat less subtle than a dead fish wrapped in the business section of the Wall Street Journal. This is just another huge chance to raid retirement accounts and pension funds, and steal more of the assets of millions of people. And to tell the President, "You got a nice economic recovery happening here. Be a shame if something happened to it".
Nobody in the McMansions is concerned about a drop of a few thousand points in the markets. Hell, they dream of it. They have the cash waiting to steal shares on the cheap. Meanwhile the rest of us have to think about our jobs, our retirement, food on the table, and the survival of the last scraps of our delusions that we have a democracy.
Meanwhile, progressives have their hands bound. Any and all of this burp in the markets will be thrown in their faces. To the banks and hedge fund managers it's another case of, "Heads, we win. Tails, you lose."
There is no threat we face today larger than this consolidation of wealth and power. I can picture the West Wing speech writers even now, scrambling to soften the message on Tuesday.
While the media makes us all alarmed about the effect of our "welfare state" on the economy, watch where all the money ends up. We've been had again.
Discussion on FB's Mangino page.
It's the day after the SOTU, President Obama said he would sign an executive order to bypass Congress and give a raise of the minimum wage to Federal employees to $10.10/hr, affecting almost no one. Dow is presently down 111 points. Don't say I didn't call it. It doesn't even have to be a real threat, or a devastating downturn in the market. Just a little blip, a little psychological reminder of who is really in charge. Watch this space.
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