Here's a bit of a rant from MarketWatch's Paul B. Farrell. He talks about Naomi Klein's new book "The Shock Doctrine: The Rise of Disaster Capitalism", which (from what I'm hearing) is a page-turner for economics nuts and market gluttons. Farrell's original article is here, but I thought it good to list it again verbatim for this forum. Is Farrell too much of a reactionary? Or is he dead-on? He may be a little overboard, but I think he's got it pretty darn close. [more]
This Jack Guinan cartoon pretty much sums my feelings up right now… [more]
Part IV: Medusa Lets Loose
As I’d predicted in a reply to DemonDoug’s blog here (Comments #20 & #21) on Sept. 27th & Oct. 6th, 2008, a water-hammer effect is in the works with regards to the short-ban being lifted yesterday, aggravating an already agitated system worldwide… [more]
Finally(!), with the short-selling ban lifted, we may be able to start limping past this pain. Of particular note was the title of this blog (pulled from the article), which was also the summation of many professionals and Fools alike: the ban did little if any good. [more]
Imagine you had $100,000. Yippee! Before you head out to “Party like it’s 1999”, let’s say you’d loaned out some of that money to me, and oh, let’s say you also loaned out some of that money to DemonDoug, Tastylunch, Gtrinvestor, binv, dwot, and other investors (just to randomly pick some popular bloggers & investors that I personally admire). But for reasons we are not fully explaining to you and for which you’ve maybe already guessed, we have failed to pay you back. Furthermore, we refuse to let you see inside our house finances, obfuscating those financial numbers because they’re embarrassing as to how poorly our vision, wisdom, diversification, risk assessment and general business practices were, financially speaking, over these past 8 years. That $100,000 of yours is gone; you may only see a fraction of it in the future.
Now, suddenly, a wealthy relative, say your long lost Uncle Samuel, gives you another $100,000 at extremely favorable terms. How likely are you to loan out any of that new money to me or Tastylunch or the others? [more]