Wednesday, March 11, 2015

Not Just Irony

The fact that the stock market is dropping "because the economy is improving" is not merely ironic. The rationale is that with "the economy improving" the Fed is likely to increase interest rates, which is why investors are selling off stocks.

Think about that for a moment, and think what that means in terms of what the stock market has become. It is no longer a vehicle for investment in business prosperity, because signs of business prosperity are a negative influence on the stock market's value. The stock market today is a casino; a vehicle for gambling on the value of the dollar. It is an off track betting parlor, fostered by the nation's government despite the government's passion for outlawing interstate gambling and punishing those who engage in it.

For years the improving economy was enjoyed only by those whose investment portfolios were enhanced by asset inflation, and the middle class was left out. Now the investment portfolios and joining the middle class in getting screwed.

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