Announcement

Collapse
No announcement yet.

the illusion of control: when will confidence be lost?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • the illusion of control: when will confidence be lost?

    http://www.reuters.com/article/marke...0081010?rpc=44

    TOKYO, Oct 10 (Reuters) - Japan's top government spokesman said on Friday the government would seek to minimise the impact of a plunge in Japanese stocks on the economy, and tax steps to support stock prices may be considered.
    "Stock prices as a whole are moving in line with U.S. and European markets," Chief Cabinet Secretary Takeo Kawamura told a news conference, who described the falls as "psychological".
    The Nikkei average .N225 tumbled 11 percent on Friday, leaving it facing its biggest one-day drop since the 1987 stock market crash on fears the financial crisis will lead to a global recession. [.T] (Reporting by Tetsushi Kajimoto and Kaori Kaneko)
    So this is the illusion of control. Government never had control over the markets. Markets are markets. Russia, China, Japan, the US...no government has control over this.




    Each day, government people seem more strident and willing to say or do *anything*, screw the law. Anything.


    We may be marking a time when people finally realize their government is not the answer.

  • #2
    Re: the illusion of control: when will confidence be lost?

    some people will always believe that the government has control. They are called socialists. Even when the opposite is the case they will fool themselves into believe it will be true in the future. Sadly the number of these people is increasing.

    Comment


    • #3
      Re: the illusion of control: when will confidence be lost?

      a good one today:

      Consumers, however, have cut back sharply on their spending, in what will be the first quarterly decline in 17 years when the government tally is in for the third quarter. Business, in response, is shrinking its outlays for equipment, supplies, and personnel. And now dozens of state and city governments, their tax revenue falling short of expectations, are engaged in yet another round of cost-cutting.


      To offset this shrinkage, and head off a severe recession, the Democratic leadership in Congress is "seriously considering" a large fiscal stimulus proposal, which would send a significant amount of money to states and cities. "We have to prop up consumption," Representative Barney Frank, a Newton Democrat and chairman of the House Financial Services Committee, said in an interview in which he revealed some of the details the party leadership was discussing.


      The new proposal would be far greater than the $60 billion stimulus package the House passed in September, Frank said. The Senate has not acted on the bill, which was dwarfed in scope by the sums being pledged to Wall Street companies and commercial banks.
      Yep, gotta get people spending again. Let's Pass a Law.

      Comment


      • #4
        Re: the illusion of control: when will confidence be lost?

        Originally posted by grapejelly View Post
        http://www.reuters.com/article/marke...0081010?rpc=44


        So this is the illusion of control. Government never had control over the markets. Markets are markets. Russia, China, Japan, the US...no government has control over this.




        Each day, government people seem more strident and willing to say or do *anything*, screw the law. Anything.


        We may be marking a time when people finally realize their government is not the answer.
        Is this what is meant by the dictatorship of capital?

        Comment

        Working...
        X