Ah the joys of ideology

[nadinbrzezinski]

and having to byte lips to find out what is in the mind of some folks IN THE MARKET

Well, went to get some writing done... and the coffee shop is right by one major trading house (to be remain to myself to protect the guilty)

So two traders are talking over lunch... and here is what scares them to no end....

RE-REGULATION... they ahem FEAR IT. It will cut on profits you see (byte lips... 1929 redux)

Then they were talking about some of the data that shows something rather scary... the credit market is fully frozen... err and here is the best part, they were BLASTING the fed for doing something they have never, ever done, even if this is ahem temporary... get involved in commercial paper (translation... commercial loans)... I mean they were ranting, over a turkey sandwich, on how ahem communistic this is... (Byte lip even harder)

Of course you should all know that if that boy (yes they were that disparaging, and they were bout my age, mid forties) gets elected, we will have the Socialist Republic of the United States before we know it. (Byte even harder... this is getting good)

And for the final cluelessness... these socialists that want to re-regulate them and all that... they don't understand the hand of the market...

Now that was all I could take... I blurted... Adam Smith used the phrase once and he hated Monopolies you ignorant twits!

They turned and looked at me in shock... first off, I got what they were talking about...

So what would you do?

I'm one of those socialists that wants to break you down, Sherman Antitrust comes to mind, and re-regulate you, like if this was 1935 all over again (Glass Sttegal)... and worst, Adam Smith agrees, or do you want to be quoted chapter and verse? Oh and in your blind ideology... how's that 401K doing? Not that either of you would get golden parachutes either... not high enough in the food chain...

They stood and left in what looked like a huff.

[Warpy]

1. It's like the bible to them

and no, they never bothered to read all of that, either.

[nadinbrzezinski]

2. You are right, it is a religion

we have several secular religions ongoing and opposing each other actually

To be honest, the other side... aka the American Socialists... for the most part have not read Marx either

So we are even.

:-)

Still, I enjoy tweaking those guys from time to time

Ah soon we will meet our FA... I told him six months ago this was coming... he ahem... made some fun. I wonder what will be his reaction now?

[MissMarple]

3. Ignorance and ideology are dangerous companions.

Warpy's sig line about justifying selfishness just about says it all. But we all have our blind spots and sometimes have no idea how much we don't really know. Some of us are better at reminding ourselves of that, and for that I am grateful. Others build a virtual wall around their justifications and prohibit all alien or contrary thought. It is scary out in the real world, but these self protective people are very cowardly. It is no wonder the Republicans rule through fear.

[nadinbrzezinski]

4. Indeed

But it is still amazing to hear it, especially NOW

[Geek_Girl]

5. good for you

I have to bite my lip all the time at work. Do these people not realize that regulation protects the investors. I'm so sick of these morons.

[depakid]

6. It also protects the traders, banks and brokerage houses

(and apparently insurance companies, too!)