Sunday, May 6, 2012

Election Fixation

What'll you do when you get lonely
And nobody's waiting by your side?
You've been running and hiding much too long
You know it's just your foolish pride
--Derek & the Dominos

Weekend elections in France and Greece are tilting toward new regimes that appear even more socialist than the current regimes. The world is fixated on the results here. Why? Because of the overleveraged, cross linked nature of the global financial system. Dominoes start falling.

Any event that might reduce intensity of market intervention attracts global attention. Laughably sad, really.

position in SPX

1 comment:

dgeorge12358 said...

Socialism is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build; it destroys. For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created.
~Ludwig von Mises