Tuesday, October 14, 2008

Time to bail!

It has been several days since the US bailout plan was approved and less than 2 days since the UK plan was approved and we can already see the immediate effect on the stock markets, everything is up, the DOW, the NASDAQ , FTSE, you name it. Does this mean the economy is improving? it seems like it, will it regain public trust in banks? probably not but the banks will still making money regardless.

So what have we learned from this economic roller coaster experience? for one thing we know that the market, like god, works in a mysterious but predictable way, also, like god when the market makes a turn for the worst it's the less fortunate that gets the short end of the stick and then forced to look at a non existent silver lining. Another thing that we can take out from this learning experience is that if you're big enough it you will never have to be accountable for your mistakes no matter how big that mistake is, in fact it's more likely that you will be rewarded for it with a slap on the wrist as the worst consequence you'll receive.

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