Told You So
Friday , October 03, 2008
By Neil Cavuto
foxnews.com
You know me, I'm not one to say I told you so.
But I told you so.
I told you that the markets the experts said would soar on this rescue deal wouldn't soar on this rescue deal.
That they'd lose air just as politicians were filling the capitol with their hot air.
That they'd be snapping sell orders as politicians were thumping chests.
It happened. A Dow up more than 300 before the vote, collapsing after the vote.
This isn't about buying on the rumor, and selling on the fact.
This is about babies.
Arrogant, petulant, what have you done for me lately market babies.
Markets whose temper tantrums have dictated government policy and cost taxpayers hundreds of billions of dollars desperately hoping they'll stop.
But here's the thing about babies, about kids in general with temper tantrums.
You can't shut them up trying to pay them off.
Whether it's hard candy for toddlers, or hard cash for traders.
Because once you do that, the kid has your number.
And the trader has it on speed dial.
Because they know they've got you.
That you'll give them more candy, and more cash.
All it takes is another temper tantrum, another sell off, another "this isn't good enough, I want more."
And you give more.
Because they know you'll give more.
Because you fear they'll sell more if you do not give more.
And who can blame you when other very smart people say they'll sell more if you don't give more.
And the very smart people make you feel very dumb for wanting to be tough.
So you stop being tough. And you start being dumb.
The only difference between the parents who cave and the politicians who cave?
The parents are blowing their money.
The politicians are blowing ours.
That's what's dumb.
And that's what's worth a tantrum.
Watch Neil Cavuto weekdays at 4 p.m. ET on "Your World with Cavuto" and send your comments to cavuto@foxnews.com |
