Our latest market meltdown and who is really responsible

So here we go again. The markets are nosediving, so the media says, but why? Well,  because “investors” are “nervous” about the economy of China (they are not buying enough) the slowdowns in Europe and the lurking menace of Ebola. So the  “free”  market and the media who shill for it don’t mention that it is investors mostly the big boys and girls who are driving this nervousness. The bull market no longer gives them the profit margins they need to make obscene profit. So in tiny rooms investors abetted by bankers have decided that they wanted to take profit or buy depressed stocks at below costs etc. So they wait for the panic, they caused, to set in so they can get their bargains. They tell everyone  that the market has tanked. So  “somehow” the overpriced market  gets “corrected” by the very people who stand to make the most off this correction. You and I and our pitiful mutual fund savings for retirement don’t even figure into this. We are just the usual victims who make fund managers look good in fat times and lose their shirts in the “nervous ” times. The market really comprises rituals of superstition. Every now and again ritual specialists cry ” the sky is falling” and the locals all go “oh, my dog”  and run around like headless chickens trying to deal with the nonsensical advice of the ritual specialists. The sad and scary thing is that we allow social relations throughout the world  to be governed by this  “free market.” We allow ourselves to be bamboozled by businessmen and women, as if they knew anything about the world of social relations. They tell us “you need smart economic managers” so you can have all the shiny geegaws you want while ignoring poverty and inequality and we just eat that shit up. So we are our own victims because we refuse to see through the  “free market” shell game and because we refuse to stop the above economic criminals.


About flexosaurus

I am an anthropologist and Associate Professor who loves to play guitar and comment on social injustice in whatever form it may take
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