Tuesday, February 22, 2011
Today was a good day in the US Markets...
"Wall St. Sinks as Libya Unrest Rattles Markets" - AP 3:00p EST
4:00p-- Dow at 12,212.79 (-178.46)
~ Some may think that's bad.. It isn't. While the reason for the drop may be bad- Libyan Unrest and increased oil prices, otherwise its good that the very wealthy lose some money. Since Wall St's success means Nothing to the health and vitality of Main St and the nation as a whole, and its a rigged game, then today was a good day.
Look here's the truth everyone needs to understand- The Federal Reserve gave Wall Street trillions of dollars to prop it up as well as the global markets. NONE of this money went to help the bottom 98%... NONE of this money was used to make your life better. NONE. In fact, it is this free money (Quantitative Easing 1 & 2) which is the Primary reason businesses aren't hiring. If unemployment goes down, the Fed will stop the free money. Thus, no incentive to hire.
And lately, Wall St. decided it would ignore bad US unemployment figures.. decided it would ignore the housing market's double-dip into depression.. decided it would ignore Tunisia, Egypt, Algeria, Bahrain... guess the Greedy couldn't ignore Libya
The Dow should be at the 7500-8000 range if it was an accurate reflection as to the Real state of the US economy, That means it is inflated 50%. So A&G will continue being happy when it drops because it means banks, corporations and professional capital-I "Investors" lose money.
Posted by Susquehanna at Tuesday, February 22, 2011