The bad thing about this joke is the fact that I wouldn't be surprised if it actually came true.
This leads me to a small observation I made yesterday. I was searching the comment section on one of my favorite websites, Slope of Hope, and thought one of the responses to a post was very well done. The creator of the website, Tim Knight, who I greatly admire, posted what he thought about government manipulation in the stock market:
"Doubting Manipulation's Efficacy - I was skeptical that the government could manipulate the markets, mainly because I figured if it was so easy, the collapse in 2008 wouldn't have happened in the first place. It seems that the government simply got caught with its pants down, but once they had the tools in place, they can make the market do whatever they want. Sad, but true, and important to recognize."This statement seems perfectly logical, and it very well could be, but what caught my attention was a comment about this post made by tzzx that made a lot of sense.
"I disagree that the government got "caught with their pants down" in 2008. The 'crash' of 2008 went exactly as planned.Think about it. Either way both Tim Knight and tzzx are admitting that they believe the government works to manipulate the stock market. I believe to disagree on that point would be foolish. I'll try to dig up some more information on these speculations sometime later in the week.
-Goldman and JPMorgan got rid of their rivals Bear Stearns and Lehman.
-Wall St, bankers effectively blackmailed the Congress into giving them Trillions of taxpayer dollars no strings attached with threats of systemic collapse if they didn't go along.
-The voter outrage delivered a landlslide for Obama and a fillibuster proof majority for the socialists (which is what the Billionaires like Soros and Buffet wanted).
-Oh, and the forced selling due to margin calls in 2008 allowed Goldman to buy stocks at fire sale prices from distressed hedgies right before this year's non-stop melt-up.
- Not to mention the Fed popped the Oil price bubble, which had been a major thorn in their side in 2007 and early 2008.
Just ask yourself who benefited immensely from the "crash" of 2008 and then ask yourself if you really think the powers that be got "caught with their pants down"?"