Writes Morgan Reynolds: “We no longer hear the Wall Street cliché “Don’t fight the Fed,” which suggests a new song to me for the Obama-Biden administration to warble next year to the music of “I Fought the Law” by the Bobby Fuller Four. Note that “Robbin’ people with a … SIX gun” is the original line–no change needed.”
WE FOUGHT THE MARKET
The Barack Obama Four
(Barack, Bair, Bennie, and Timmy G.)(A’) Breakin’ bucks in the … hot sun
We Fought the Market and … it won
We Fought the Market and … it won
We printed money, ’cause we … had none
We Fought the Market and … it won
We Fought the Market and … it wonWe spent your money and we feel so bad
We guess the race is run
Well, that’s the worst crash … We’ve ever had
We Fought the Market and … it won
We Fought the Market and … it won(Instrumental Break)
Robbin’ people with a . . . SIX gun
We Fought the Market and … it won
We Fought the Market and … it wonWe miss your money and the … good fun
We Fought the Market and … it won
We Fought the Market and … it wonWe spent your money and we feel so bad
We guess the race is run
Hey, that’s the worst crash … We’ve ever had
We Fought the Market and … it won
We Fought the Market and … it won
{ 4 comments }
This is his anthem, I wonder if he knows about wise King Canute, who bade the tide to turn, to show his courtiers the limits of the State? How does he differ from that King except in not having gold and silver for money?
Hate to sound pessimistic, but did the market really win? Or can we expect a full nationalization of the economy in the future, under the pretext of “saving it from internal collapse”?
I interpret the market “winning” as defying Obama and Co.’s attempts to “manage” it. For us on the bottom of the heap the results are not very pleasant.
The market will ALWAYS win.
In the 21st century, with the advent of artificial intelligence. The market will have it’s own cyber speaker and will have a mind of it’s own.
The market will be able to speak for itself and defend itself and it’s actors against the government and social assaults.
Transactions will be heavily encrypted and heavily hashed into trillions of sub-transactions. Governments will never be able to reassemble them all to rebuild the original transaction and control what is sold and bought and tax it.
The market will always win, we are seing the last of big human governments.
Soon, the market will take over the nation-state all around the world and will have it’s own virtual speaker which will speak in the name of scientific and technological progress and in the name of prosperity and there will ne nothing left to stop it because governments will no longer have the tools nor the legitimity to tax the market.
The market will come back with a vengeance and sweep away all those governments.
Right here in the 21st century, you just wait and see.
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