We are in mid-October, stock exchange indexes are falling and economic journalists are shouting and wondering: is the next October stock market crash approaching? That’s a good occasion to recall a good old Mark Twain’s observation:
“October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.”
And all this reminded me Randy Martin’s incisive insight:
“The Magic of Finance is its ability to take by giving” (p. 16)
from his superb book Financialization of Daily Life (2002), which I featured in our community a year and half ago.