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10 signs Wall Streetís soul sickness grows worse
Market Watch ^ | February 5, 2013 | Paul B. Farrell

Posted on 02/05/2013 3:51:19 PM PST by Lorianne

Yes, the Dow and S&P500 hit new highs. But the rally’s hiding huge risks: “GDP turns negative as U.S. economic recovery stalls,” screams one headline. Another hears a “Ticking Time Bomb.”

World’s central bankers at Davos warn cheap money’s blowing a new asset bubble. Dr. Doom, Marc Faber, “loves the high odds of a ‘big-time’ market crash.” Another, Nouriel Roubini, says “prepare for a perfect storm,” while Bond King Bill Gross sees a “credit supernova” dead ahead.

Rally? Bubble? Crash? Global? Is the economy “peaking?” Are we on a long, slow-growth downhill slide to a 1% GDP? Is our banking system infested with a soul-sickness virus? Is Adam Smith’s capitalist ideal turning against our markets and economy, accelerating the odds of more brutal competitive wars over an ever-shrinking, low-margin profits pool?

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Government
KEYWORDS: collapse; depression; economy; wallstreet

1 posted on 02/05/2013 3:51:27 PM PST by Lorianne
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To: Lorianne

In other words, if they scare us enough we’ll sell our stocks cheap to the people they’re shilling for.


2 posted on 02/05/2013 3:55:33 PM PST by Age of Reason
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To: Lorianne

Should have gone to your link first: I didn’t know it was an article by Farrell. He’s pretty good.


3 posted on 02/05/2013 3:58:33 PM PST by Age of Reason
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To: Lorianne
Is our banking system infested with a soul-sickness virus?

Yes.

Do not make the mistake that the economy at large, especially small business, is the same as the mega-corporations and Wall Street financiers.

Our government is corrupt, big business and big finance and big government have made a mutual deal with the devil. ZIRP and endless financing of massive federal government deficits have made any hope of a return to normal economic circumstances impossible without a major calamity.

Just find out what happens to the price of trillions in government securities held by the Fed if interest rates just returned to a “normal” level. It just cannot happen without bankruptcy.

Bennie etal have made a mess of it. We are so screwed.

sschu

4 posted on 02/05/2013 4:06:55 PM PST by schu
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To: Lorianne

Someone must be selling gold.


5 posted on 02/05/2013 4:12:20 PM PST by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
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To: schu
ZIRP and endless financing of massive federal government deficits have made any hope of a return to normal economic circumstances impossible without a major calamity.

Add to this...

* Bazillions on Medicare, Foodstamps, Disability.
* Porkulus extended, no real budget in 4 years, they can't the numbers would scare even the LI-Voters.
* Real businesses in my town haven't recovered from 08' so many business closed and nothing has taken their place, they remain empty.
* You get the sense they are quashing real growth because if they get turnovers of the dollar and they chase themselves inflation comes back and it falls apart.
* You are right Bernake-Gietner-BHO have no arrows left in their quiver.
* All the Euro's have to do is downgrade us once more and I think the party is over. The problem is Obama doesn't care, his Hurbis knows no bounds. After all he has got a ton of EO's in his pocket if they do and it falls apart.

I do not see a way out of this....

6 posted on 02/05/2013 4:22:06 PM PST by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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To: taildragger

The only way out I can see involves spit, baling wire, bubblegum and bandaids.


7 posted on 02/05/2013 7:34:43 PM PST by reformedliberal
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To: taildragger

The only way out I can see involves spit, baling wire, bubblegum and bandaids.


8 posted on 02/05/2013 7:35:17 PM PST by reformedliberal
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To: reformedliberal
"The only way out I can see involves spit, baling wire, bubblegum and bandaids."

I'm thinking at some point, some tar and feathers may come in handy as well.

9 posted on 02/05/2013 7:37:57 PM PST by Joe 6-pack (Que me amat, amet et canem meum)
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