Thursday, September 8, 2011
Listener: "Ok.. Ok.. I Love Pooh too"
We mention often about something called a Great Disconnect, and you see it played out when government gives untold billions upon billions to the financial sector while completely ignoring the bottom 98% who are screaming for assistance but don't have the unified voice that Wall St possesses. And you see it demonstrated when terms like "jobless recovery" are used by the media to minimize and trivialize the plight of millions of everyday Americans. And we've described the stock market accurately as a thermometer out of whack, because historically the market is supposed to be an accurate gauge as to the health and well-being of the US economy.
Today in the markets, we saw another Great Disconnect.
Bernanke made a speech today & this is what he said: "Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. central bank would spare no effort to boost disappointingly weak growth and reduce unemployment" (Reuters), and an economist at Barclay's Capital looked at the speech this way, "We see the relatively downbeat nature of the chairman's comments on the growth outlook as confirming our view that the FOMC is inclined to take further accommodative steps at its September meeting,"
In other words, the bearded bastard was practically screaming that the cockroaches on Wall St would be continually rewarded for destroying the US economy by receiving more Undeserved free money as soon as the next few weeks.
You'd think the parasites on Wall St would be happy; dancing around and grinding into each other in joy. You would have expected the Dow to rise today... Instead it dropped after the speech and closed at 11,285 (-119)
The presstitutes (corporate media prostitutes) rationalized it was because Bernanke didn't offer specifics on what policy steps would be taken. Guess the cockroaches wanted to know specifically if they were going to receive an additional trillion, quadrillion or zillion. Investors want certainty. Well... actually they want continual, never-ending profit and in a perfect world, a constant flow of insider trading information...
And like little fat, ugly spoiled children who don't get what they want, the Investors reacted to Bernanke bending over backwards to reassure their free money was coming though without specifics, by dropping 119pts.
If you can't trust the market to go up when powerful government and financial entities are directly and openly catering to its needs, when can you trust in it?
Why any 'everyday joe' small-i investor would put money in the stock market today I will truly never understand...
Posted by Susquehanna at Thursday, September 08, 2011