Yep. And how about the DOW hitting 10,000 yesterday. Story line is that financials drove the increase. That’s interesting. People are getting out of stocks and moving to hard (precious metals) commodities, unemployment continues unabated, foreclosures continue unabated, bank closures continue unabated etc. But the stock market goes to 10,000 on one Goldman Sacks report.
When this hot air balloon bursts it will not be pretty. Somebody is manipulating the market to make it appear everything is just hunky dory preceding the mid term elections.
Apparently it’s the only economic indicator the commies in Washington can manipulate to any appreciable degree. But the unemployment, foreclosure and bank closing numbers are impossible to mask—and that is what most people live with each day.
So, while stock market manipulation is frustrating, I don’t think it changes the average American’s perception of this disastrous economy—and the “government” that is responsible. The bloom is off the “Bush did it” rose.
I feel that the stock market is not an indisator of anything anymore except what the powerful and corrupt want it to indicate.
Without manufacturing, it’s all horseshit banks and financials. Disconnected from reality. It’s a closed and manipulated game for the Paulsens, Geithners, Bernankes, et al.
Thankfully, the public isn't buying it...Specter's losing, the GOP has a several point advantage over the Dems in the general congressional ballot...