Monday, July 16, 2012
-45pts as of 3:30p
Wasn't it over 200pts on Friday based on China's collapsing economy and hopes for more of their form of QE in the near future?
Oh, these silly markets.. Up.. Down.. Up.. Down
Like a head bent over bobbing for um.. apples...
So what is the supposed reason its down today? June's retail sales numbers compared to May were down 0.5% which may not sound like a big deal, it really is.
US consumer confidence, which is basically a Consumer Board polling everyday people at random on how they feel about the economy, also dropped to 72 from 73.2 previously.
Almost gives the impression the top 1% snobbily look down on the rest in a 'Let them eat Cake!' posture... Nahh.. we're Americans, right? We're all equal.
We wanted to post a very good video that explains how bad things are for US consumers but this site is run by Google and they make it super-difficult to post videos which come from competitors like Yahoo! so instead we'll post the link.. its 5min and worth a look... (yes we know, its a Longgg link)
However, we can post this very informative 4min, 40sec video on how bad things really are with the US economy and stock market.
The speaker, Charles Biderman of TrimTabs speaks of how bad things are, the "Bernanke Put" and how ultimately Investors' desire to chase the 'holy grail' of more QE will end up much like a dog chasing its own tail...
The info can get detailed.. lots of numbers & such.. Focus on the bigger message..
** To turn music off, go to very bottom left of page and click the pause button
Posted by Susquehanna at Monday, July 16, 2012