Market is a Ponzi scheme…….
Running out of suckers all over the world. I’m waiting for interest rate to explode and wrecking Obamama”s plan. Can’t borrow at 10%, let alone 15%, and not throw the whole budget at interest payments. Interest rates are creeping up because no one can lend money for free for ever.
Not good for elections in 2010, let alone OB’s in 2012.
May we live in interesting times.
In other words, the gargantuan pillaging of public funds in the EU, an economy larger than the U.S., is not even half the amount looted from the U.S. taxpayers. The central banks of the major trading nations have thrown well over $20 trillion (don’t forget Chinese and Japanese “quantitative easing”/stimulus) of public funds into their deleveraging, insolvent banking sectors, all in the vain hopes that the unwary public will see spray-painted weeds as “green shoots” of organic economic recovery.
Have you noticed that every day the market threatens to close lower, a sudden “rally” in the last 20 minutes gooses it higher so that it once again closes within an unprecedented narrow band, day after day?
If that isn’t manipulation, then why can you set your watch to the daily “rally”? That is hardly a “random walk down Wall Street,” is it?