14 February 2008

SP 500 Bear Market Update: This *Could* Leave a Mark

Most good people find it hard to imagine that the Wall Street banks and beltway politicos might be manipulating the markets and misleading public perceptions of the true state of the economy. Those actions would put the good of the people and fiduciary duty aside, even if it might delay an economic dislocation, while special interest groups and insiders take the necessary actions not only to save themselves, but to a reap immense personal fortunes from the public catastophe which they themselves caused.

We don't. But let's see what happens.

Hint: "As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavour to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed." Abraham Lincoln, 1865

Cf: What Happened In the Last Bear Market and Recession?