The End of Capitalism? Asks Market Timer Frank Kollar
September 26, 2008 (FinancialWire) (By Frank Kollar)
The fate of the stock market hangs on the one thing free markets do not need; a government intrusion to the tune of over 1 trillion dollars to fix a problem caused by greed, pure and simple.
With close to 400 billion already spent, Democrats and Republicans are hammering out an agreement to add another 700 billion in an effort to bail out our banking system, one that is on the verge of disaster and sitting on a mountain of bad debt.
The government’s solution is to buy the bad debt, thus using taxpayer’s money to save the banking system and thus the economy, which will fail according to the experts, if the buyout is not forthcoming. And there is no guarantee the plan will work.
We do not want the economy to implode any more than the next person does and maybe this truly is the only way out of this huge problem. But what are the long term ramifications of such an intrusion? No one knows.
The definition of capitalism is; “ a social system based on the recognition of individual rights, including property rights, in which all property is privately owned. Under capitalism the state is separated from economics just like the state is separated from religion.”
Note the words “the state is separated from economics” but now the state is entering the financial markets, thus altering, possibly forever, the very definition of capitalism.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
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