I am the Markets

Written By: - Date published: 9:59 am, June 23rd, 2012 - 12 comments
Categories: capitalism, climate change, interweb, sustainability - Tags: ,

and I’m sick of people telling me how I feel:

“Markets have become increasingly concerned that the austerity programmes in the eurozone are causing a vicious circle of recession”, and “Markets were confused by mixed messages from European capitals”. I have only one word of reply. Bollocks. Did anyone phone me to ask how I, The Markets, was feeling about these subjects? Did they hell!

So let me get things straight. I am not in the slightest bit concerned about the austerity programmes in the eurozone. I am entirely indifferent to whether Greece and Spain get bailed out, go bankrupt or both. Just as I’m not at all bothered if Germany gets any of its money back.

I existed long before someone invented the eurozone and I will be around long after it has ceased to exist. I’m not in the caring business. I’m a trader. Someone has something they want to sell, someone has something they want to buy. End of. Whether people are flogging something of value or billions of pounds of worthless debt is entirely irrelevant to me. I’m just a mechanism for other people’s greed and inefficiency. Neither am I in any way confused. Quite the opposite. I see everything with a steely-eyed clarity. The confusion is all yours.

Read the rest at The Guardian…

And while you’re there you may enjoy David Mitchell’s Soapbox – on Climate Change Deniers and Sustainability for start (although you may get distracted onto why men’s shoes are so pointy…)

12 comments on “I am the Markets ”

  • Comments are now closed

  1. RedLogix 1
    23 June 2012 at 10:45 am

    Every now and then someone writes a passage with such clarity that it becomes a landmark…

  2. BernyD 2
    23 June 2012 at 11:24 am

    Well said.
    To personify the “Market”, and then foist Heavenly ideals on it is purile at best.

    • bbfloyd 2.1
      23 June 2012 at 12:47 pm

      It’s also a measure of how little these people regard peoples intelligence as well…

  3. AnnaLiviaPlurabella 3
    23 June 2012 at 12:18 pm

    I prefer the “BOLLICKS” spelling!

  4. Bill 4
    23 June 2012 at 1:47 pm

    Yeah…nah. The market isn’t some neutral environment where simple buying and selling occurs. It’s an environment consisting of certain rules that confer massive advantage on some while similtaneously disadvantaging others. Those who are advantaged can eventually dictate what activity takes place within the market context while the disadvantaged can eventually starve in the midst of plenty.

    Really do wish people would seperate ‘trade’ from ‘the market’. (The former has happened ‘since forever’, but the latter is a fairly recent phenomenum that promotes and discourages very specific types of behaviour.)

  5. Shaz 5
    23 June 2012 at 2:10 pm

    Very, very good – this article nailed the personalisation and reificiation of the market and the normative trick that makes us believe that allowing markets to trump all other social goods is just fine. “The market did it” neatly avoids responsibility for the financial disaster that surrounds us and the crisis that is modern capitalism.

    The tools to make markets work for people, whose effects are known from their effective use in settings including from the post 2nd World War to the 1970s do exist, are tested and could be deployed. For that to happen people and the environment would have to be at the top of the international political agenda.

    This IMHO should become a crucial difference between Labour and the Nats. A deep vein of policy difference would emerge if the next Labourt government were at the forefront of advocating internationally for a Bretton Woods 2. Having smart ideas in place to oppose the apparent investor protections in the current TPPA drafts could be life saver for New Zealand and a Labour led government coming to power in 2014.

  6. captain hook 6
    23 June 2012 at 2:13 pm

    just picked up liars poker and the new market wizards and every now and then I re read the secrets of the temple but all they can see is the next deal.
    they short term con artists. bit like kweewee.

  7. Dh 7
    23 June 2012 at 3:34 pm

    I get annoyed at this one too. See it in the ‘paper all the time; statements of fact about why the dollar has dropped, why shares have gone up or down, why interest rates have changed… the ‘market’ thinks this blah blah. Problem is that false media reports can often retrospectively make themselves true; shout it loud enough & people will believe it, a report that share prices are falling due to panic selling or profit taking can influence people to sell their shares…etc.

  8. eduardo - invertir en negocios 8
    24 June 2012 at 2:41 am

    The indecision is our worst enemy when we´ll really want to get succeed. But the indecision can get out
    if we really followed our instincts and the voice of our heart.

    Are you think so?

    La indecision y la voz de tu corazon

    • BernyD 8.1
      24 June 2012 at 11:19 am

      Not an easy question to answer in a Generic way unfortunately.
      Usually indecesion is based on the fact you have made assumptions about the business.
      Unless you have taken the time to analyse the business processes and implemented some kind of plan or approach you will face indececision from lack of knowledge.
      You can research this lack of knowledge without giving ideas away, and therefore meet your goals in a “One step at a time” approach.
      Research and understanding are the tools you need, both of which take time but as you said , that is time well spent if you have a solid foundation to act on, even if you action is to not progress your idea at least you will know why.

    • BernyD 8.2
      24 June 2012 at 11:25 am

      The market is a heartless entity, it will do anything, it is not “Human” even if is run by “Humans”
      You can’t expect it to magically answer any assumtions you have made, and if you voice your assumptions then you will most likely be the target of profiteers within the market.

The server will be getting hardware changes this evening starting at 10pm NZDT.
The site will be off line for some hours.