So, on a tip from a friend I did a little digging
seems that today we suffered what has termed as a tumble
shortly followed by the pronouncement that
the drop was the largest in five years.
and, while perhaps not overtly alarming in itself I would cast sidelong glances at petroeuros, military posturing towards Iran, the demonization of NKorea as a threat manufactured (at least partially) by the US’ tacit approval of AQ Khans proliferation bonanza and the exercise of hard power in Iraq perpetuating the internal inconsistencies of an inequitable and non-sustainable global free-market ideology
and so, besides rambling - to return to the article: investors need to
keep shopping
As the author says, "[t]he slow, sure path to investment success is to ‘buy and hold’ your stocks"
get that? keep buying, keep hoarding ... er, holding
so, disclaimer: I Am Not an Investment Counselour etc etc etc
do not feel that in following my specious opinions an arguements regarding the global nature of free-market trade ideology that you will see positive returns ob your investments - altho social and ecological benefits may accrue
my point here is not whether or how to make money on this fluctuation
rather it is to highlight the rhetoric readable beneath (and between) these uterances masquerading as common sense
quoting "experts" at CNN who say
"You have to look at days like this as an opportunity." He says to buy. "Nothing has changed fundamentally."
or "another expert" telling us that
"[s]tocks are not as expensive as they were at the peak of the bubble in 2000, but they are not cheap. ...I’d be pretty cautious here."
also included is the dissenting opinion of a "third professional investor [who] says,
"Any pullback will be more of a buying opportunity than an indication of more to come on the downside."
just_keep_shopping
Now, as if this were not enough - atop the pilfering of corporate coffers to silk-line the pocketbooks of CEOs etc, disregarding the rampant and destructive privatization of social and ecological resources in the race to the bottom by the trans-national elites
there is also couched a latent anti-intellectualism
endorsing a stay the course attitude very reminiscent of persons who shall remain here unnamed
the author devotes nine lines of indented quote evidencing an idea of one "Paul Andreassen, [who, then] a psychologist then at Harvard University",
"found that people who pay close attention to news updates actually earn lower returns than people who seldom follow the news"
so, to recap - don’t watch the news, capitalize on social loss, and keep hoarding - er, holding -
as the author, one JD (who I am not attempting to attack personally) says in closing: "sit back, relax, and remember that investing in the stock market is a long-term proposition"
eat, drink and be merry
(Rome, Nero and Bush with a guitar pop into mind)
(actually he closes by addending re: the continued declines in Asian and Australia and an intention to update upon the morrow etc)
the project of global corporate capitalist expansion will not be finished within our lifetimes (a point of ideological finality that I would read as bleak indeed) but the internal inconsistencies will continue to open points of contestation, collusion and cooptation
but, in closing: just my 2 centavos
thanks for reading
I'm sure it's very very far from anything resembling anyones (everyones?) notion of perfection