The Market Works Just in Time
- added July 8, 2008
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- Libertas
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If politicians understood the market better they wouldn't do so much damage to the economy.
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Great post from an excellent source, Libertas! The following quote from Mr. Murphy's article hit the nail right on the head:
"If people better understood how the market actually works, then they might stand back and watch it work its magic. But since they have only a dim perception of its mechanics, these people instead clamor for more laws giving men with guns the permission to order people around."
Here's a link to a related Murphy article entitled "The Social Function of Stock Speculators." -
excellent article, which won't be read or believed by most here, because 1) it's too long and 2) it doesn't support the "local consensus." :)))))))))))
i'd like him to add one section, though... the "what about" part for speculators [traders] in options where in one country they need to put up 30 or 50% of the margin value in purchasing the options, while across the lake or ocean, the "other guys" can buy the same number of options with only 5% down....
gee... almost sounds like the mortgage market over here..... nobody mentions that the fall of housing prices has made it MUCH MORE easy for renters to become OWNERS TODAY, thanks to the busted speculators and the folks who signed up for the 0% down, low interest for a year or two mortgages, hoping or betting [ie, speculating] that their home's sales price would go UP..... and got burned when it didn't.
same old, same old, but with a different wrapper, so none of the talking heads can recognize the similarities.
good post! thanks!
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