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"Free Market" Cheers on Government Spending

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March 04, 2010 – Comments (8) | RELATED TICKERS: JOB

House approves jobs bill (e.g. more borrowed money stimulus) and market cheers.

Either the investing class has been infested with "socialists", or free market idealism only applies when arguing against the prospect of legislation that constrains individual profit prospects.

So lets here it from the free market pontificators... Jobs Bill... Love it, hate it, or is it a "necesary evil"?

8 Comments – Post Your Own

#1) On March 04, 2010 at 3:58 PM, lemoneater (84.83) wrote:

If this continues, soon we will all have government jobs.

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#2) On March 04, 2010 at 4:01 PM, brickcityman (< 20) wrote:

@lemoneater... we already do

The fact that the national debt is collectivel ours to pay down means that to some extent or another every taxpayer has a job to do.

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#3) On March 04, 2010 at 4:13 PM, lemoneater (84.83) wrote:

What bothers me is that every couple days legislators decide to spend more money. I'm tired of being co-signee liable for the debts of others.

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#4) On March 04, 2010 at 4:38 PM, russiangambit (29.95) wrote:

" Free market" loves "free money". Actually, since there is no such thing as free money, it is somebody elses money stolen or taken from them via means of redistribution, inflation or money printing, we can say that "free market" loves other people's money as long as it can get away with it.

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#5) On March 04, 2010 at 4:42 PM, FleaBagger (98.10) wrote:

The first problem, as I explain in my new blog post, is that almost nobody knows what free market means anymore. The second problem is that those in power who do know, actively work for the opposite.

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#6) On March 04, 2010 at 5:24 PM, outoffocus (26.92) wrote:

A 47 point jump in the dow is considered "cheering"? Especially after the volitility we've seen the past 2 years? Please dont get hung up by these BS media headlines that attempt to explain a minor blip in the markets. These people have no idea what they are talking about. The market action and political actions are 2 mutually exclusive events.

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#7) On March 04, 2010 at 5:29 PM, brickcityman (< 20) wrote:

@ BMFPitt...

testy testy... You'll have to realize I was being facetious.

I get most irked by people who like to use stock market sentiment as a political football and a proxy for "free market" judgement.

Perhaps I was also trying to point out how socialist our capitalists have become. I often wonder how long it will be before corporate lobbying budgets outstrip R&D budgets.

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#8) On March 04, 2010 at 5:34 PM, brickcityman (< 20) wrote:

outoffocus

you're right, there was no resounding response, but there was seemingly notable uptick correlating to the news breaks. Thats enough for me to see some causation.

Of course for every buyer there is a seller (and an HFT penny grabber in the middle), so its not like this was a universal cheer (otherwise the indexes would have closed much higher).

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