Good to see the completely rational Free Market at work

[Insula Dei]

http://www.lefigaro.fr/societes/2011/08/11/04015-20110811ARTFIG00340-le-trajet-fou-de-la-rumeur-qui-a-secoue-la-societe-generale.php

Daily Mail shows why we should treat it as a serious newspaper.

[CatoMinor]

I think it is safe to assume the majority of us here do not speak French. So not being able to read the article I will just go with the thread title and assume you are giving up socialism and embracing capitalism

[MASHED POTATOES. VOTE!]

This is Atlas. We speak English (or sort of...)

[Insula Dei]

Google Translate might have helped? But as I seem to be dealing with Trans-Atlantic barbarians I'll get you the first English language link I could find.

http://blogs.wsj.com/brussels/2011/08/11/daily-mail-apologizes-to-socgen/

[TheGlobalizer]

What does this have to do with a free market?

Stock ownership is always free to the buyer to choose.  The actions of the Daily Mail were defamatory in nature and potentially could expose them to liability.

What part don't you like, that people can't sell stock they own, or that a rag newspaper can publish untruths and, um, not get away with it?

[Insula Dei]

The bit where it shows how much of stock price variations are the result of perceptions and vague fears/ panic attacks by traders.

[TheGlobalizer]

The bit where it shows how much of stock price variations are the result of perceptions and vague fears/ panic attacks by traders.

I think the problem is your idea that free markets are intended to be rational.

In the long-term, they generally are.  In the short-term, they're a pinball.

[Insula Dei]

The bit where it shows how much of stock price variations are the result of perceptions and vague fears/ panic attacks by traders.

So don't buy stocks.  I don't understand what the problem is.  No one is forcing you to.

Ah yes, the stock market, that institution that doesn't have any impact at all on the economical and political spheres we live in!

And there's no problem. I just thought this was an amusing anecdote.

[TheGlobalizer]

Ah yes, the stock market, that institution that doesn't have any impact at all on the economical and political spheres we live in!

FWIW, I hate how politicians fetishize the stock market.  Obama has been particularly disappointing on this, as he fixates on the performance of the stock of large national corporations and largely ignores metrics that reflect the wider health (or lack thereof) of the economy.

The stock market could lead someone to think we're in a slow, tepid recovery.  Unemployment/job creation numbers say something different entirely.