Friday, September 23, 2011
And Friday goes out with a Fizzle...
Markets seemed to calm based on really nothing substantive- the G20 hurriedly rushed out a statement around 6a this morning saying the nations of the world were committed to getting ahead of the crisis and taking all necessary steps, yadda yadda. blah..blah.. Don't know why they stopped there- G20 should have also written they were committed to ending all wars and hunger and suffering by 5p while they were at it.
Can you imagine how 'cool' that would be if everyday people could get away with such bullshit. For instance, say you cheated on your spouse and he/she found out, was Furious and ready to leave, and all you had to do was write a note saying you were taking all necessary steps to ensure this would be corrected, and then all was magically well on the homefront?
To be fair though, its not that Investors really believed that empty crap the G-20 put out. They just wanted any excuse to get back in the market.
I read a quote from a frustrated Investor regarding yesterday. I wish I could remember the source because I read so much but the gist was like this-- He was tired of all the fear and hysteria; the news from Greece, Europe itself and other global concerns. He wanted less talk on recession and more focus on promoting & bolstering stocks and sectors to get others to feel confident enough to put their money back into the market.
In other words, it was advantageous to him that people put their money into those shark-infested waters, and all this talk about recession, economic collapse and other Realities was bad for business.
Investors always get catered to. They are the true 'Royalty' in the world.
What Investors want more than words is action, of course with the word "action" meaning for world governments and central banks to pour literally trillions of dollars, euros and other currencies to save Greece and other economically defunct nations in Europe, recapitalize the banks which are basically now bankrupt and make sure that 100% of Investors' investments are protected if any bank or nation does collapse, so they do not have to take any haircut or loss. And oh yes, one last thing Investors want-- Fuck the populaces; the billions of people around the world in the process.
Weekend is now here..and while millions of people watch NFL football, English Premier and other "football" matches, go to movies and other leisurely distractions, the powers of the world will be working diligently to come up with another trick or scheme to keep the plates spinning.
The powerful never accept Defeat.