A Little Lubricant For The Sheep?
When I go to parties, or in group situations, I often look around and wonder quietly....what will happen when the sheep actually learn they have been fleeced?
Yesterday we discussed the statistically impossible trading desk results of Goldman Sachs, which reported in its 10Q that it lost money on exactly 0 days last quarter, and was profitable on 63 out of 63 days. Today we find that the rape and pillage of the middle class was not isolated to Goldman, and that JP Morgan also had a flawless quarter. And if the odds of Goldman making 63 out of 63 are virtually impossible in any universe in which risk goes hand in hand with return (but in those in which monopolies are encouraged and bailed out), the coincidence of the two main firms that control the world having a perfect track record is impossible2. And since things in reality tend to be zero sum, when everyone makes money, someone may be tempted to ask the question, just who is losing money? And the answer, dear taxpayers, and [Goldman|JPMorgan] clients, is you.
I truly would like to extend a special Thank You to the English Majors and Motley Fool for providing an outlet where the sheep can actually read about what is happening to them......
When you don't care that your financial institutions are lying about the balance sheets....and who knows what else....really the only thing you can do is look in the mirror and say to yourself.........Baaaaahhhhhh.