Outraged taxpayers are pointing smugly to the recovery of the Stock Market today after the greatest single day loss on Monday. However, the truth of the matter is that the gain today is the influx of the greedy looking for bargains betting on the government passing a recovery plan later this week.
While it is true that if the Congress did not reconsider, the Stock Market will continue to plummet and all of us will face serious ramifications, it is apparent that the Stock Market has learned nothing. The gain today is not a sign of faith in the Market, but in the the government to avert a crisis. Do not mistake today’s stock market figures as a sign that the Stock Market can recover by itself. It is still playing fast and loose with our future by gambling on the government and the public’s fear of a total economic collapse.
But As For Me…
While it is true that I believe that the government must act expeditiously, the Stock Market needs a house cleaning. Let’s take a look at where these new investors are coming from, and if they are the same ones that put us into this mess then let’s find a way to stop them from “flipping” this economy to benefit their own greed. Otherwise, we might as well take a can of gold spray paint and paint that statue of the bull of Wall Street to identify the true nature of capitalism as we know it today.
