The media frenzy around Facebook should be a lesson to all the CHEERLEADERS living a parasitic existence off the efforts to establish legitimacy to casino capitalism. Days prior to the FACEBOOK’S IPO, the financial media was racing against itself to lift the price of FACEBOOK on its first day of trading. Anything less than a 50% increase on day one would be a major disappointment. The fact that FB closed virtually unchanged from the offering price resulted in the entire stock market closing lower as the failure of FB to rise dramatically was deemed to be a statement about the overall lack of optimism on the part of investors. When the screen screamers and cheerleaders raise expectations in a rush to be the most inane, the failed expectations can lead to disappointment. Too much TOUTING and HYPE can make financial anchors long for the DOT-COM era.
Posts Tagged ‘IPO’
Notes From Underground: The Aussies check and the Canadians are expected to raise
May 31, 2010It’s June 1 and we have two central bank meetings. The RBA is expected to stand pat as they have raised more aggressively than any other central bank and with the turmoil in the European markets, expectations are for no change. The announcement comes tonight at 11:30 p.m. CST. Rates are presently at 4.5 percent and even though the Aussie Dollar is down about 11 percent since the last meeting, the Aussies should be comfortable with where rates are, especially if China begins to slow from the previous fast pace of growth.