Plunge Protection Team?
Can you say, “Tank Crew”?
Because no matter how many dollars get created and used to pump up this collapsing corpse, the simulation of life does not mean the stimulation of life.
No doubt that the PPT has gamed and modelled an event like this and was ready to dump money to control it. The Fed is largely responsible for this mess and they are still in the driver’s seat.
I have no doubt the Fed has been pumping the market all day.
Perhaps if they did not, then the market would have fallen over 2000 points?
No question there is market manipulation at play today.
While it’s good for the short term it hurts the markets in the long run. People will have less confidence and certainty. Moreover, it just sets things up for a bigger crash later.
The Fed just needs to let the markets run the course instead of artificially propping it up.