Tuesday, March 18, 2008

[420]


For the second day in the past week, the otherwise moribund stockmarket has surged forth with another gust of "sound and fury". Perhaps the corollary to that- "a fool's tale signifying nothing and of no importance" -may be applicable as in the case of the Fed's last bailout. Given that my education in economics is limited to my WSJ subscription, I am not in the position to assess anything beyond what it is. One thing I am sure of, however, though once again without qualification, is the ensuing bacchanalia that must have filled the cavernous canyon of Wall Street following closing. 420 points... what better way to celebrate than 420? Yes, while everything else was in the green today, the eyes of America's captains of commerce grew red. With more than a month to go before 4/20 rolls around, our nation's stockbrokers are reaping the rewards of their own 420, not only in their pockets, but in their mind.

However, the Fed is nothing if not a service for all of America. As an objective citizen, I ask, why can't all Americans share in 420? Today, Barak Obama preached unity and coalescence. While he stressed that the scars of a divisive social structure will not be easily overcome, I see one place we can start. Together, we must join in the revelry of our men on Wall Street and celebrate the 420 for ourselves. Their gain is America's gain: as Wall Street soars higher and higher, so too must average Americans get higher than they ever though possible.

This, of course, was the intent of the Fed behind their idea to slash interest rates. When Americans are high enough, they will be more free with their money and take less shelter under destructive, cautious economic policies. Gradually, as the American market gets higher, it will return to lucrative yet risky practices from which it has recently strayed. Therefore, to preserve our great economy, and reverse the recent downward slope, I urge all Americans to do what is right and celebrate the 420.

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