The Market knows best
That’s what they told us;
Self-correcting; the’invisible hand.’
Leave things to the Market
And wealth will be unlocked
For the prosperity of all.
Mans’ instinctive sense of self-preservation
Will prevent things from ever going too far;
The drawing back from the abyss.
That’s what the chief snake oil salesman, Alan Greenspan
Thought, or said he thought; who knows?
A compliant tool of the mystic financial world.
And Nobel prize winning mathematicians
Corralled by the priesthood to sell their souls
And provide infallible formulae to show
Risk was a simple mathematical calculation.
Simple for us; you weren’t bright enough to understand.
But we are and our secret is sold to the highest bidder
Who then becomes Croesean rich.
There was a writer called Adam Smith
Who gave us the big boost
In his ‘Wealth of Nations’ book,
Business bad – Government worse
Was how he saw things;
Therefore choose business,
The lesser of two evils.
And so it came to pass
The Imperial Mercantile Power
At that time duly complied and
With progress going well
Rehearsals of mini collapses
To tighten up the resolve
Of the bigger next,
And the still bigger ones after that.
It was not money anymore –
Accumulated will to force the issue
To a conclusion the fixated mind
Insisted was real and obtainable.
A financial fundamentalism, a new religion
Spawning empires, wars, indentured labour,
Wealth and famine and later, office blocks
Packed with true believers
Toiling for lesser motives.
Ten thousand colleagues followed
Where the MBA certificates of priesthood
Were doled out to the trusting acolytes
As the whole world seemed to embrace
This infallible new religion.
Or, nearly the whole world because
Like in Ancient Greece
There had to be slaves to feed the frenzy
Of their enlightened democracy
And this new democracy of unlimited wealth
Needed to be based on the other half,
And if there were not enough of them,
More had to be created
To continue feeding the machine,
As the devotees maintained the mystic mantra,
‘The Market knows best; less Government interference,
A lighter and lighter regulatory touch until –
Phoof. It’s no longer regulated at all.
And see, you’re wrong
We can ride our bicycles with no hands;
Wealth still pours into our enchanted coffers,
We will lend you whatever you wish,
The economic cycle has been overcome.
Man is master; we need no god.
We’ve squared the circle, explained gravity.
The market has triumphed;
”Long live the Market.”
‘Our Market which art in the City
Hallowed be thy name.’
The Market has taken over
And we no longer know what is going on,
We do not understand the secret
But its own momentum pushes it onwards.
Oh Glory, Oh Mystery, Oh Awesome wonder,
Thou art great oh Market
And we bow down to thee.

There was a small crash in 2008
Due to bungling government interference
Which will take some time to correct,
But no one can ever say again
That the Market should not reign
Forever and ever, amen.

September 2010