It was a moment that cynics like myself had anticipated with some hope; that one of the big stocks Goldman had been promoting, one of the companies that pro-stock market pudits had been bullishly calling to show a long-term, stable and good investment option fell prey to the harshness and volatility to the free market.
I am not against the work, by human endeavour and creativity, to produce a technology that makes the world a more enjoyable and fun-filled world. I appreciate and encourage more developments to be made to make technology improve the lives of everyone and the planet we live on. This is something that a free market should help to facilitate.
The propping up, however, of corporations which have become the favorite of even larger corporations which are investing in governmental and societal control (such as the corporate, vampire-squidization of Europe) is something which is guaranteed to fail. Especially with the larger corporations teaming up with governments and the FED/ECB/BoE etc are propping up these same stocks through artificially injected liquidity into the ‘free market’.
Under these conditions it’s not easy to call it a ‘free market’ and in this case this is done so out of humour. This article, detailing the halting of APL stock after a volatile 9% drop, shows just how rigged the stock market really is. It was halted by the ‘single stock Circuit Breaker rule’ due to ‘volatility’. This article, which has not leased into the public domain over the past day through any headlines, has been left to business reader to interpret.
Interesting, that one of the big hopes of a recovery to capitalism was taken out of trade in the market for one day because of a drop of such magnitude that is triggered a circuit breaker. Built in to protect the open market. Because it’s ‘free’. Think about that, if you will.