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Monday, September 15, 2008

Republicans, The Party of "Ideas"

Wouldn't it have been awesome if young people had been able to invest their Social Security in the big steaming shitpile so that the free market fairy could have made them all rich beyond the dreams of avarice this morning? That was such a smart idea. Didn't I read about that in Atlas Shrugged or something? Too bad the Dumb Negative Nelly Democrats had to get in the way of that one like they always do with all their elitist negativity and stuff.

4 comments:

Anonymous said...

Funny thing is that in this economic climate, treasury notes increasingly look like a good bargain. Sales are up. People are betting on the stability of the federal government.

Dale Carrico said...

They must believe the Democrats will remain in power long enough to clean up a whole lot of Republican messes, then. Here's hoping Obama is much more like FDR than he looks like he's going to be (a statement that would have also been true of FDR himself, to be fair).

Anonymous said...

Well, another interpretation is that they're expecting the worst from the market, so government bonds are a better investment relative to the market. They are investing in the lesser of two evils, but they are still expecting some returns on those bonds, otherwise it wouldn't make sense to invest in bonds either.

If they were worried about total economic collapse, the best choice would be to withdraw all funds from the bank and exchange their fiat currency (god knows what would happen to the value of the dollar) for precious metals.

Nobody is there yet. They trust the stability of the federal government.

Another thing is that most prediction markets are currently giving John McCain a slightly higher probability of winning in November (52 - 48 according to Intrade and the Iowa markets). Investors pay attention to these things, because, ultimately, an economic market is a prediction market, too. They just play with real money, and their predictions concern whether a certain company will be profitable in the future.

If they're paying attention to the prediction markets, or if they're paying attention to the mainstream media, they are probably convinced that McCain has a better chance of winning.

So I doubt they are operating on the assumption that Obama will save them.

Dale Carrico said...

Whatever.