Tuesday, April 27, 2010

The Daily Note - The Killing of Wall Street II

Hope you all had a great weekend and are rested for what I think will be a turbulent week. So started my message to my members yesterday, where I also wrote:

"The continued earnings report and a lot of economic changes, examinations and general shake up the world over. World monetary decisions and governments are and will be allowed more and more to shape our country's future. As traders, our world will change and we'll be required to meet new sets of rules, and we'll have to pay more attention to what is happening everywhere."

So are you paying attention? The killing of Wall St. is now so evident that one would have to equate it to a brick upside the head. Yet most are discussing the issues, as if separate and unrelated. They prefer to look at issues of Goldman Sachs as a "who done it", looking for a deep throat, even as the foundation underneath their feet has already been dismantled. The select few who will "suffer" under the microscope will have served their purpose for the "greater good" called restrictions. What is next is regulations, bureaucracies and entanglements via which traders will knowingly and unknowingly be part of the transition. In the end most who remember what used to be will have faded into a ghostly past, and remembered with disdain. History will be unkind to those who created, innovated or invented anything other than what will be approved.

What will take it's place is a fine tuned machine which will regulate all that we can do, love or enjoy. But what we'll lose is more than freedom. We'll lose dignity and as a result our self worth. Motivation is the key to the trader but traders who will be allowed to trade will be made to follow rules which reward the new ultra elite class. Taxation being one way of destruction but the death of spirit is the ultimate goal. No less is expected of slaves to the socialist state.

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Happy Trading, Living and Dancing

Today's Pick - MA Same as yesterday. It is consolidating for a move

©DayTrading with Anni 2010

1 comment:

Anonymous said...

Freedom is a great thing until it is seriously abused. The Banksters had no "Enlightened Self Interest" that the economists like to say will occur in free markets, the Banksters exhibited just plain greed run amok that almost caused the world economy to collaspe. The best solution? Break up all the banks that are "too big to fail" into managable pieces ASAP. Too big to fail is just too damned big, period. The derivatives need to be on an exchange and need common sense collateral to prevent the insane leverages that can't be redeemed. We need that ASAP as well because the risk in derivatives is in excess of $600 Trillion, an incomprehensible number that could wipe us all out if the house of cards collaspes.