What possibly could be causing this turmoil?
Well, thankfully, we know it can’t be the central socialist government headed up by an unknown Halfrican muslim. Right?
I mean, really. This is the most transparent government in America’s brief history. Like, wow. We’ve performed a unique experiment by electing our first African president. He, in turn, has rewarded his loyal supporters by appointing only the most bizarre staffers.
We have much to be thankful for.
Sell baby, sell. They’ve been talking about it for weeks already.
The wings are a shakin’ and the stall has begun.
Let Krugman and his clueless minions keep the stick and we’ll soon be in a full spin.
Do I sell everything and pay the 23.8% tax?
“But look here — the new Blackberry is out! Look at it! LOOK AT IT!” — CNBC for about two hours today
The question is whether the market confidence is driven by stimulus or by actual recovery. The jobs report and economic indicators (I give more weight to The Conference Board than what the gummint puts out)look positive. Not strong, but not negative, either. The May ISM ROB shows upticks in new orders and employment in the US manufacturing sector also, although the PMI dropped overall.
You’ve got to do your homework to know the truth about what’s going on in the economy.
Industries reporting growth: Printing & Related Support Activities; Nonmetallic Mineral Products; Fabricated Metal Products; Wood Products; Furniture & Related Products; Apparel, Leather & Allied Products; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; Machinery; and Paper Products.
The six industries reporting contraction in May listed in order are: Miscellaneous Manufacturing; Transportation Equipment; Chemical Products; Plastics & Rubber Products; Computer & Electronic Products; and Primary Metals.
Not long ago, Ben Bernanke looked the financial world in the eye and publicly promised that he would not stop purchasing $85 billion worth of bonds each month until our unemployment rate fell to 6.5 percent — much lower than it is now.
So why is the financial world wringing its hands now in imminent expectation of an end to the Fed’s bond purchases? Have they lost confidence in Ben Bernanke’s character? Do they no longer trust him to keep his word?
And why, while the markets have been falling, couldn’t Mr. Bernanke try to stabilize them by stepping up and publicly reiterating his 6.5% promise? Is Ben Bernanke a knave or a fool or a nebbish?
I saw some government pensioned, elderly lady investors trying to jump rope and chanting, “Sell in May, and go away.” Looks like the herd is getting spooked.