Dave’s Strange and Unusual World

October 1, 2008

The Second Largest Transfer of Wealth in Human History?

Filed under: Politics — dangrdave @ 11:16 am

Trint posted a great write-up entitled “Put Away Your Pitchforks” (read it here).  This post caused me to have a few afterthoughts about all of this market hooey.  With this being an election year, I think people need to calm down and realize that there are some really big things going on behind the scenes in order to promote and move agendas, and to shift fortunes from the “folks” to those in the know.  Because of this, I believe that the next great step in the “War on Terror” will be that of conservative bloggers against the menace of the liberal media.  The media has hoodwinked many people, but there are still many who have not bought into the propoganda, who write the truth on their blogs even though they are considered to be weird fringe elements of society.

Here are some of my thoughts on the events of the past couple of days (or as many thoughts as I could have in a very brief period of time):

So, when the totally unnecessary bailout failed the other day, the market dropped 777 points; however, the very next day, the market rose almost 500 points.  I am sure that some people may not be able to retire this year because of these ups and downs, but I’ll be willing to bet that the only people to lose were laymen who got spooked by the media and our naysaying politicians.  The 777 point drop caused oridinary folk to sell, sell, sell…and it was all bought back up for pennies on the dollar by the folks who know that we aren’t in any real trouble (uh, that would be Wall Street…the same people who claim that we’ll enter a Depression without the bailout).  So, if the largest transfer of wealth in the history of humanity has been attributed to our dependence on oil, then I would speculate that the second largest transfer of wealth in humanity probably has something to do with the market folks buying the stocks of panicked folks for pennies on the dollar.  It happens all the time and now is no different; but that doesn’t mean our economy is bad…it’s a shell game.

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