It is socialist policy failure, not market failure, that causes the rich to get richer and the poor to get poorer. Recently, the United States government began action to punish anyone who would short sale to defend their savings from loss due to FED policy.
The short squeeze seems to be over now, and the stocks will resume the downward spiral. My guess is the Chinese government is doing the buying and selling necessary to effect short squeezes on the US government behalf, but when the Olympics are finished, the Chinese will no longer help out, at which time the markets will tumble.
Monday, July 28, 2008
Short Squeeze Over?
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