THE MADNESS OF MARKETS AND THE DELUSIONS OF CROWDS
Tim,
Re: fanatical partisan
You clearly are misrepresenting my positions. I will speak for myself, thank you very much. I would encourage you to do the same. My personality isn't the issue here. It's the madness of markets I'm here to discuss.
FYI: I have bashed both Clinton and Bush for their propensity toward Corporate Imperialism. I am not a Democrat, nor do I engage in advocacy for them as a Party. I'm an advocate for a return to sanity, and the ideals of the mixed economy that the U.S. enjoyed in the post WW II era. That would probably make me a conservative, or at least a fuddy-duddy.
Which leads me to the Market Lab issue. I'm very much in agreement with Warren Buffett that if the derivatives markets were to vanish tomorrow, that it would make for a wonderful new stability to the world's economies. That in fact Main Street has no use for these gambling rackets that Wall Street is so very fond of. Would you care to comment?
No religious claptrap about hedging. Let's discuss the reality of rampant and out-of-control speculation. OK?
Oh, by the way, in an example of the vast idiocy and insanity of the American system, the Bank of America today announced that it had secured the right to trade energy futures, much as Enron has done for the past few years. I have a friend who works at HQ in Charlotte. She assured me that the bankers who were on the Enron account were fired in December, shortly after Enron went belly-up. Now BofA wants to engage in the same practices? Tell me it isn't so, Joe..... <g>
From the annals of American depravity, signing off......
Not Insane (it just appears that way to a mad world!) |
