Wall Street retreats on Iraq worries

Comments (3)
caserojj wrote:

This is a load of bologna! Nothing has changed between yesterday and today and yesterday we were up in the markets. The fact remains the stock market is a game of chicken. Everyone tries to hold out as long as they can to their positions and then something happens to spook it all and the market sells off as people move en masse like lemmings into stupid trades. There is no such thing as an efficient market. Just a bunch greedy people scared half out of their wits reacting on emotion. I don’t believe investors are all that smart except for those ones with very deep pockets (think Buffet and Soros) who can actually move markets by themselves. Markets are in perpetual disequilibrium because behave cannot help but behave irrationally.

Jun 24, 2014 5:29pm EDT  --  Report as abuse
AnnonReuters wrote:

The stock market is mostly just racks of servers trading with one another. I like your analysis though – it’s quaint.

Jun 24, 2014 6:42pm EDT  --  Report as abuse
kinid wrote:

Iraq is largely irrelevant. At best it’s a good ruse for something that no one really knows anything about, at least the common trader or investor. Certainly the military supply corporations could benefit from more instability, but that is offset by the transfer of tax payer money to the feds for distribution to the weapons producers. Granted it’s all fake paper added to the debt and actually not collected as taxes, but then the dollar is reduced in value and the tax payers get the resultant inflation which is the same result, they spend less in true value. Thus in the overall economy Iraq is unimportant. But hey, it makes for a good fake story that sounds reasonable to the sheep. After the shearing you can then blame the socialists for their losses.

Jun 24, 2014 8:16pm EDT  --  Report as abuse
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