…just isn’t as easy as it used to be.
It wasn’t long ago you could just make a call to Lehman Brothers or Goldman Sachs and have them sell off large amounts of specific equity positions. The Market would take the cue and a wide sell-off would materialize. Everybody would Freak Out. The Party who had the most friends in the right place on Wall Street would win whatever argument they wanted to win. It was great!
But it appears tough times for the Obama Administration as the Fed has installed “circuit breakers” in order to control swift and sudden drops in the market.
So we have watched the market drop gently. Very gently. Sleepily even.
It’s a lot like a Drunk Driver coming towards you at a blazing 1 mph. It just doesn’t have the same effect.
Those of us who participate actively in the market are simply “stepping out-of-the-way”.
There is no panic to be found.
Barack just can’t get a break.