“The most overvalued equity market in history”
Occasionally, real life imitates arts & entertainment.
Plot summary of The Mouse That Roared (1959), a film starring Peter Sellers:
When the tiny nation of Grand Fenwick’s only export, a special wine, begins to be produced in California, their entire economy collapses. Things look dire until Prime Minister Rupert Mountjoy (Peter Sellers) points out that no country that has declared war on the United States has ever gone hungry. When Field Marshall Tully Bascombe (Peter Sellers) and the 23 other men in the Grand Fenwick army invade the United States, their plan to immediately surrender unravels.
Selected quotes from ‘Blackmail time! Germany considers bailout “concessions”, if Greece keeps more refugees‘:
The German Government is considering to ‘help’ Greece financially – but only if Athens is more involved in the refugee crisis. This is what German daily Wirtschaftswoche ‘learned’ from German government sources. “German government no longer rules out to come towards Greece financially, if Athens increases its commitment in the refugee crisis,” WiWo notes on Friday and adds citing Merkel’s government sources: “Our highest priority is currently that more refugees remain in Greece.
So to make it clear, Grand Fenwick:Greece::United States:Germany, and refugees≈invaders.
I took the following screenshots on June 9, 2015. My iPhone 5S reports nearly half the space that iTunes reports when the device is connected. I removed an entire music playlist to get myself back in the clear, but found the discrepancy unusual for a company that makes such polished products. I’m sure someone will tell me it’s a “feature”.
And therefore, I said, Glaucon, musical training is a more potent instrument than any other, because rhythm and harmony find their way into the inward places of the soul, on which they mightily fasten, imparting grace, and making the soul of him who is rightly educated graceful, or of him who is ill-educated ungraceful: and also because he who has received this true education of the inner being will most shrewdly perceive omissions or faults in art and nature, and with a true taste, while he praises and rejoices over and receives into his soul the good, and becomes noble and good, he will justify blame and hate the bad, now in the days of his youth, even before he will recognize and salute the friend with whom his education has made him long familiar.
Yes, he said, I quite agree with you in thinking that it is for such reasons that they should be trained in music…
-from Book III of The Republic by Plato
This is the fruit of heavy-handed government manipulation of prices…I call it price control. And even that is not the extent of government intervention in capital markets.