Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (91759)	12/19/2008 10:57:56 AM
From: skinowski	1 Recommendation Read Replies (2) of 116555

If stocks are ready to go up they will. If not they won't. Intervention will accomplish nothing other than create an environment of suspicion that stocks need to be propped up or they would fall. When intervention starts, investors are deprived of normal market signals and will not know if share prices have really bottomed or not. This silliness by Japan is going to create massive mistrust, and massive mistrust is never good for the markets. All this is very true. We need politicians who would understand that the best thing they can do is maintain a society which would be a good place to conduct business - where there would be respect for law, for contracts, for property and other individual rights. After that, they should minimize their involvement in the economy. Where can we find such leaders? All we have now is a crop of arrogant self-important people who think they are smarter than the markets (and a shocking proportion of the population seems to concur). The Invisible Hand doesn't need "guidance". It doesn't lead - what it does is the outcome - the result - of healthy economic activity.

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