Post-Keynesian Observations

Understanding the Macroeconomy

Stop Looking at the Stock Market!!!

with one comment

Just a quick note to officially record my frustration with the frequent use on the part of the media to measure the success of economic policy by it’s impact (or assumed impact) on the stock market. It’s those same financial geniuses that got us in this mess in the first place, and deciding whether or not we are doing the right thing by watching their reactions is not logical. We absolutely must break with the notion that financial markets are rational, reasonable measures of our material well being. They are not. GDP growth and unemployment are, and it will still be some months before we see them recover. God forbid that we sabotage that process because we felt as if we weren’t doing enough for Wall Street!

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Written by rommeldak

May 20, 2009 at 1:43 am

Posted in Uncategorized

One Response

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  1. “We absolutely must break with the notion that financial markets are rational, reasonable measures of our material well being.”

    I have been deeply and sincerely wishing that this could be accomplished for at least the past 20 years. Although I am just an ignorant layman when it comes to economics, I have always mistrusted the Stock Market.

    But then, given the current state of legislation regarding corporations, I also mistrust just about any corporation bigger than Mom & Pop stores.

    Welcom back Rommski.

    SicPreFix

    May 22, 2009 at 7:53 pm


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