“We hardly need to be reminded that we are living in an age of confusion – a lot of us have traded in our beliefs for bitterness and cynicism or for a heavy package of despair, or even a quivering portion of hysteria. Opinions can be picked up cheap in the market place while such commodities as courage and fortitude and faith are in alarmingly short supply…
To be persuasive we must be believable; to be believable we must be credible; to be credible we must be truthful. It is as simple as that.”
Edward R. Murrow
What surprises me, at sixty-four years of age, is not that people so willingly sell themselves for lies. I have seen that happening throughout my life, although I may not have recognized it at the time for what it was.
No, what never ceases to surprise me is they sell the only thing that they really own, and the only thing that they can continue to hold and take with them, for so little. What does it profit a man indeed.
Just because a cheat and a liar is good at it, almost with a professional pride, and is better than most of their peers, is no reason to admire them. Because in the bigger scheme of things they are just wallowing in the mud with the rest of them.
China will attempt to keep its equity markets open as selling threatens to feed on itself, tripping circuit breakers that close the exchanges and fuel a feeling of panic in the retail investors.
So tonight we will see another push and pull struggle between retail selling and official buying in an attempt to allow some holders to liquidate while keeping a feedback loop and panic from forming.
This post was published at Jesses Crossroads Cafe on Jan 7, 2015.
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