Absurd is the word
On a day when one company posts a $61B quarterly loss, the largest in American history, that company sees its shares rise double digit percentage points while the overall market, upon this news, falls 2-3%
If anyone still believes that government intervention in the economy distorts the market, please go to the back of the classroom. Is it any surprise that AIG is no longer sure that it can repay taxpayers in the required two year time frame? Is it any surprise that, even though their credit rating is now worse for having defaulted on the original government loan, they are getting more credit? What would happen if you tried to pull the same stunt?
There is an answer for all this madness. It is the complete separation of State and Economics. It is the original Liberal ideal. These policies, which consist of sound money, free trade with other nations, freedom from government taxation, and enforcement of voluntary contracts, produced the greatest advancement in civilized history. Since then, those policies have been steadily eroded.
In their place, the Socialists erected a society of wealth confiscation built on paper money. Why don't you support auditing The Federal Reserve? What are you afraid to find out? What do you have to lose now? You've lost over half of your savings. You've lost more to taxation, inflation, and lost opportunities due to economic management and war.
What do you have to lose?
If not now, when?
David in Qatar