Comments on: Key markets pushing resistance levels http://sovereignspeculator.com/2009/06/25/key-markets-pushing-resistance-levels/ Thoughts on the markets and the decline of the west Fri, 29 Apr 2011 07:51:02 +0000 http://wordpress.org/?v=2.6 By: Mike http://sovereignspeculator.com/2009/06/25/key-markets-pushing-resistance-levels/#comment-3911 Mike Thu, 25 Jun 2009 18:23:48 +0000 http://sovereignspeculator.com/?p=2467#comment-3911 BTW, if anyone hasn't seen Matt Taibbi's populist tirade against Goldman in Rolling Stone, it's a fun and surprisingly decent read for a writer without a background in finance. Zero Hedge posted a scan in its entirety: http://zerohedge.blogspot.com/2009/06/goldman-sachs-engineering-every-major.html Unlike Taibbi, I don't think we can blame Goldman for the commodities bubble (I adhere to the school of market thought that says pricing forces run much deeper than simple manipulation). Also, it was regulation, not the lack of it, that was cause of this depression (government-created monopolies, socialization of risk and moral hazard anyone?). Nonetheless, I was pleasantly surprised to see that a popular journalist had actually caught onto to what a scam carbon trading is. My own studied opinion (I am a lifelong environmentalist who went to the top grad school for this stuff) is that global warming is 100% BS, just another scam for the bankers, lawyers and bureaucrats. I have met the head of the Chicago Climate Exchange, and there is not fiber of altruism in his bean. If I am ranting, maybe it's because I just heard Obama say in his usual righteous tone that the debate is over on this subject. BTW, if anyone hasn’t seen Matt Taibbi’s populist tirade against Goldman in Rolling Stone, it’s a fun and surprisingly decent read for a writer without a background in finance. Zero Hedge posted a scan in its entirety:

http://zerohedge.blogspot.com/2009/06/goldman-sachs-engineering-every-major.html

Unlike Taibbi, I don’t think we can blame Goldman for the commodities bubble (I adhere to the school of market thought that says pricing forces run much deeper than simple manipulation). Also, it was regulation, not the lack of it, that was cause of this depression (government-created monopolies, socialization of risk and moral hazard anyone?). Nonetheless, I was pleasantly surprised to see that a popular journalist had actually caught onto to what a scam carbon trading is.

My own studied opinion (I am a lifelong environmentalist who went to the top grad school for this stuff) is that global warming is 100% BS, just another scam for the bankers, lawyers and bureaucrats. I have met the head of the Chicago Climate Exchange, and there is not fiber of altruism in his bean.

If I am ranting, maybe it’s because I just heard Obama say in his usual righteous tone that the debate is over on this subject.

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