Back in '08, when the economy was tanking from a government-induced stimulus, and the market was moving smartly upwards when, fundamentally and technically, there was no reason for it to do so, I read reports (rumors, really) that the Treasury and/or the Fed (or suitable proxies) were buying up stocks simply for the purpose of buoying the market for the benefit of Obama.
I don't know how much credence I'd put in rumors like that, although I'd put nothing past Obama and the Democrats.
But when we had the big down movements before, I wondered if, indeed, there might be something to it.
Probably not, but I don't doubt the possibility of the dark hand of the Deep State behind some of these movements.
Just food for thought!
CA....
No need for the Fed to directly buy stocks back then...trillions of dollars in QE (”quantitative easing”) by the Fed (new $$ in the system) and a $1 trillion (more or less) “shovel-ready” “stimulus” package (by Bush/Obama & Congress) had to go somewhere, and it certainly didn’t go into savings accounts & CD’s at near zero interest rates. It all went into the stock market causing a bubble that may be deflating now.