UPDATE:
It may be worse than at first we thought. The savage drop could have been (this says it was) deliberately engineered by Goldman Sachs as a shot across the bows, warning legislators not to mess with them!
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Nathan Martin makes the point that Thursday's 1,000-point drop on the Dow Jones Index unveiled the truth: the current high valuation of the market is because of money thrown into it by banks and hedge funds, not ordinary private investors. The drop happened when the insiders stopped trading.
The question is, how much longer can the illusion be maintained? Why are they doing it? Is it to tempt investors back into the market so that they can suffer all the financial losses when the banks pull out?
This is an age when cynicism comes easily.
1 comment:
In short, yes.
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