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Save the Free Open Market! Screw the bailout!
Posted by
Whoah! here is an interesting observation!
You know, with all of the bailouts coming from central banks and central governments, do you realize that each banking system is moving towards nationalizing/socializing the bank system.
I was reading the drudge report earlier today and it had a news clipping about how England is nationalizing their banking system. Do you realize what will happen if a banking system becomes regulated and nationalized?
The freedoms of investing, and building wealth by leveraging the banking system will be way tougher. Yeah, for those having mortgage difficulties might get a better interest rate, or even possible forgiveness to their debts, but to lose open invesment markets, because some people marketed cheap credit, and the idiots bought into it.
And with the dow falling down head over foot, what are we going to be able to do as a world economy here let alone the us economy? Are we going to have to ride this hellish economical rollercoaster and have the situation beat our wallets and investments up? Is it going to change the ways that we look at money and how we spend, invest, and earn it?
What do you think? I think I am going to post the upcoming news for today.
For the us and Canadian markets, we have bank holidays! Columbus Day and Canada’s Thanksgiving day will be celebrated as the markets will be closed to observe these holidays. but keep in mind that the International Monetary Fund is meeting up in Washington DC to get some issues straightened out with.
England has a couple of Product Price Indexes, and Monetary Policy Committee’s Andrew Sentance will put a few of his own namesake (sentences of course!) on the current economy for sure.
And for sure the late night tea for England, RICS Housing, and the BRC will release retail sales numbers.
Japan will release the CGPI, and Australia will release NAB Business confidence ratings.
Time to have a good day off from trading!!! REST ON!!!!
Tom Howell
goforextrade.com
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