The piranhas have eaten themselves so lovingly full, they decided to take the day off.
But its really the headline that is so outright depressing. The market snaps its losing trend based on good economic news out of China.
Today we are all Orientalists.
CNN Money: Wall Street snaps 5-day losing streak
The markets opened higher and never looked back following reports that China's economy may be improving and as government officials unveiled details of the $75 billion foreclosure fix.
3 comments:
LOL! Now the Wall St. capitalists take the word of Communist propaganda? Lenin would have laughed at this ironic turnabout. The markets it seems want good news from wherever, even if it's made up. Obama's truths are like posion to it lately. So, the Chinese will now administer Communist potions to heal Capitalism? Somebody, pinch me I think I'm dreaming. This is what happens when desperate men start to read tea leaves. I wouldn't run out and buy GM real fast on this turn of events.
They don't care about communist propaganda one bit all they see are dollar signs. Wouldn't matter where the hell they were coming from. Up to a year ago, you couldn't read any investment report without somebody telling you that now was the time to invest in China with 10% to 12% growth per year happening like it was a sure fire thing.
All that business is going to come back and there's recent rumbling again about investment in China. I would suspect these guys love the Chinese model because basically you have a population that is submissive and forced to co-operate. Bush was very interested in doing that here, especially with the suppression of the Constitution and freedom of press and speech. Its like England talking like Hitler was a great thing prior to WWII.
I agree, the Right loves any model that limits freedom down to acquisitional skill sets. Dung's famous phrase about Being Rich is glorious sums up the Chinese model and the American model. China shook off Marxism and the American Right is desperately trying to shake off Keynesian economics. One big difference here. The Chinese Model seems to be working the Western Rights trickle down has failed. The two models had a head on test from 1980 to now. China developed into a super power economically and we became a basket case. American Corp. moved it's operations to China Inc. and the Communist Party is their shop steward ( work or die). No pollution controls , labor laws, strikes etc. Strict party control of everything but making $$. Lot's of corruption. Just the way the Rethugs love it. Now, were moving away from our version of this because it failed. If it hadn't the public would have loved W. They only loved Clinton because his admin. was viewed as delivering WORK and prosperity.
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