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Recommend Les Leopold - Why Are We Forced to Worship at the Feet of 'Mythical' Financial Markets Controlled by the Elite? (Email)

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By Les Leopold, AlterNet

Printed on December 22, 2011
http://www.alternet.org/story/153497/why_are_we_forced_to_worship_at_the_feet_of_%27mythical%27_financial_markets_controlled_by_the_elite

The markets are “jittery,” “upset,” “skittish” and “unnerved.” They are “confident” or “unsure.” They are “demanding” that political leaders “put up or shut up.” And they are “reacting unfavorably” to Obama’s newfound populism.

These are just a few of the many ways financial markets are described each and every day by the media, financial players and public officials. At first it seems as if these markets are humanoids onto which we project our feelings. Yet, on closer inspection, it’s more like we have ascribed to them god-like powers. We are told to appease the market gods or face eternal financial damnation. As President Obama warned Europe recently, they must “muster the political will” to “settle markets down.”

Why do we worship these angry market gods?


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