Also, Andy Kessler spotted this weeks ago in The Bernanke Market
Posted on 08/04/2009 1:36:55 PM PDT by FromLori
For the market to rally right now has got to be some kine of scam.
That’s for sure. Snippet..
In the real economy, unemployment is at Depression-era levels (see this, this and this).
In the real economy, bank loan loss rates will be higher than the Depression.
In the real economy, government revenue is at its lowest level since the Depression, and most states are on the verge of bankruptcy.
In the real economy, the world economy is crashing faster than during the Depression (and see this).
But in the make-believe world of the government and the financial giants, the recession is over.
How do they do it?
Well, as I noted a couple of days ago, the boys use:
High-frequency trading, program trading-based frontrunning, and other computer-based manipulation of the markets
Creation and manipulation of bubbles
The Plunge Protection Team
Intervention in the gold, currency markets, and bond markets
Bear raids, naked short selling, and credit default swap holders driving companies into bankruptcy
In addition:
http://www.washingtonsblog.com/2009/08/real-economy-versus-fake-economy-of.html
This could be the most important thread here this week.
commenting so I can follow this thread.
With Obama’s poll numbers fading fast, can you imagine what they’d be if we weren’t given this bogus rally?
It serves as a distraction for his highly unpopular plans.
Each day, there is a flagpole rally where most of the gains are right at the start so that when the sheeple buy into it, the Boyz sell you what they bought at the open. Goldman Sucks is the priniple beneficiary.
Keeping my eye on this one. Great post.
Also, Andy Kessler spotted this weeks ago in The Bernanke Market
Do you think we’ll have inflation longer term?
That’s how I’ve set up my strategy....
You got it. This is a suckers rally driven probably by the same short hedge funds who wiped it out to get O elected.
Yes I do but look at it this way that is a good strategy regardless.
Andy Kessler is sharp as a whip. His analysis on stuff is usually outstanding.
He nailed it on Worldcomm and I saw it as it was happening. The fools at Worldcomm/MCI were charging a premium for their internet backbone at the time and it was a commoddity. This allowed investment banks to sell junk bonds to anyone who wanted to build a fiber optic network.
For later.
Sounds like it is time to stock up on Spam and Rice and buy a Sailboat and a Fishin Pole.
There is only one word at the moment: BRAVO
mark
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