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Now I realize that stocks may not be exactly the kind of commodities Marx was talking about, but it sure seems Goldman's stock plunge, for example, is related to sellers' and potential buyers' or non-buyers' justifiable "subjective" reaction to the SEC case against them. Hey, I wouldn't buy shit from these crooks! being an apt "subjective" reaction, better get rid of this paper before it gets even more worthless etc. Oh and sure, I know individual subjectivity can be viewed as a social construct of conditioning by media and advertising. Still. Oh, and of course, these sharp characters consciously try to manipulate that by spreading rumors as part of "pump and dump" schemes. So Martha Stewart finds out in advance that ImClone's product is not gonna do what it was claimed it was going to do, knowing how "the market" will react and bails ahead of time on the basis of improper inside info. example of a subjective reaction based on a prognosis of what the larger one would be and was. More obviously examples of fraud and corruption obviously at the expense of the naive and gullible. My own personal example of the subjective buyer being with my first and only foray into stocks last fall when I heard GM was at $2. Wow I thought, GM, formerly the largest corporation in the world etc, maker of my own car and so forth only $2! So I spend about $400 and buy 100 shares at $1.91. Mother, a retired CPA, warns me they might go bankrupt. GM go bankrupt?! I respond. Hell, they'll bounce back big time after a certain point, I'm thinking. Well, I ended up recouping half my loss from someone who bought em at 92 cents on OTC after they were delisted-put the remainder in Borders Books for lack of something else to do which isn't doing very well. ________________________________________________ Send list submissions to: [email protected] Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
