An increasingly infrequent delve into the creaky mental workings of a cynical old man
OK, the market is up 250 today on the fact that Citi made 2 billion in profit.
Now, didn’t we just fork over 30 some odd billion to these clowns?
How hard is it to make a 2 billion profit after someone hands you 30 billion?
I'd say rationality doesn't figure strongly in day-to-day market volatility, nor veracity in the efforts of journalists to impose coherence or (worse yet) an emotional narrative upon same. "As it read this morning's upbeat Citi memo, the Dow's spirits soared and tears of gratitude sprang to its sad, weary eyes." I made that up but it's not that different from how the NY Times reported it today.
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