“EQUITIES CHEER EUROZONE DEAL” (October 27, 2011)

Thus the blaring title of an article in the Financial Times, of all places. And stockmarkets around the globe are indeed up this morning. It will take the hapless investors a day or maybe two to realize that the eurozone deal, which was cobbled together overnight, is just a stopgap measure without any chance of being sufficient to resolve the currency union’s mounting troubles. As I have discovered long ago, the stockmarkets are among the best indicators of universal human stupidity. Up and down without any rhyme or reason. Except sheer emotion, of course. Nothing else between the ears of so many investors who are supposed to guide the global economy. This is so obvious by now that I am getting bored by the very subject. Universal human stupidity, anyone?