Monday, September 19, 2011
~ "Speak up, I can't hear you.. I'm trying to make profit"
Used to be a time I liked the stock market, both from the standpoint that I invested in it and that it accurately reflected the strength of the US economy. There was always an element of risk involved but if you did your due diligence and studied companies, trends, you tended to do all right for yourself both in the short and long haul.
Now, its just a wild beast- goes up and down without any rhyme or reason, indirectly and directly manipulated by the government. And I take no part in it.
Today, the market dropped -108pts to close at 11,401. The rationale was "Stocks are tumbling as investors worry that Greece won't qualify for a new installment of emergency funds in time to avoid defaulting on its debt." (AP)
Hmm.. Jeepers, I sure thought that Greece problem was all solved? Everyone in the market sure seemed like happy bunnies last week. Here's what AP wrote on Friday evening (comments in parentheses are mine):
"Global stocks remained buoyed Friday (yay!) by the decision of five top central banks to provide unlimited amounts of dollar loans to the banking sector (psst, that's nations' tax dollars going to banks instead of the people), easing one of the concerns driving the recent turbulence in financial markets of late. Coming on top of mounting hopes that Greece will not be defaulting on its debts anytime soon (wonder what pipes these 'hopeful' people are smoking?), the news helped ease concerns over the impact of Europe's debt crisis on banking stocks (Wheww..we wouldn't want banks to take their medicine). A better than expected U.S. consumer confidence survey (went up a "whopping" 2.3 pts in Aug from July) also helped boost sentiment at the end of what looks like being one of the best stock market weeks in months."
And just last Wed, AP wrote: "Stock indexes edge higher on optimism about Greece".
Gee~ I don't get it.. ~scratches head. The Cock-bleeping Cockroach investors were so jubilant last week...and today they're worried.. Gosh..
~ Now That's how you express Jubilation!
Here's the TRUTH folks--
Greece's financial problems are only a surprise to those who absolutely never bother to read news. It has been known now for over 16 months that Greece is financially bankrupt and needing to default. This is why they were bailed out in the summer of 2010 And the summer of 2011.. why their nation's infrastructure has been gutted and privatized.. why all the protests and violent government crackdowns have been taking place.. and Greece has just about enough money in the entire treasury to last another month unless they get the next wave of bailout funds. And here's the really fucked up part- supposedly if Greece defaults, Europe collapses right? And Yet the IMF and ECB are danging the next installment of the bailout funds over Greece's heads unless they make further austerity cuts.
Talk about cutting off one's nose!!
Its in Europe' interest supposedly that Greece doesn't collapse and yet playing this dangerous game where they threaten a nation with no money left not to give more, as if they're not to be affected when the poo hits the fan.
If I was Greece I would have told the IMF and ECB to go Fuck themselves and to renegotiate terms- to threaten Instant and Total default Immediately unless they give ALL of the promised money in 1 installment. If Greece's leaders weren't corrupt, they would have done this by now.
What would Socrates do? Or 'Bill & Ted'?
But there's a bigger point to make than Greece. The financial media are Liars. Every single one, Most days the market trades up or down, there's really no rhyme or reason beyond some want to cash in profits, and other see certain stocks or sectors as undervalued and thus a 'good deal'.. And that's it. No lengthy explanations needed.
Later this week the Fed will in all likelihood will announce more free money to the Deeply Evil ones who make their living investing and trading. And the market will spike.. or drop if they expected 100 zillion dollars and Bernanke only delivers 99. And ultimately it won't matter- the market will crash and find its True bottom. Because we humans can not mess with the laws of economic nature forever.
Posted by Susquehanna at Monday, September 19, 2011