Wednesday, October 24, 2012
Wasn't QE3 supposed to kickstart the Dow to finally reach 14,000, then 15K and to infinity and beyond?
Yesterday 10/23/12, the Dow dropped -243 pts to close at 13,102
You know what it was at closing bell on 8/27/12, a little over 8weeks ago?
So in spite of all the money poured into the bottomless pit know as Wall St, and all the little filth and fleas scurrying about on the trading floor of the New York Stock Exchange looking to Buy! Buy! Sell! Sell!....
In spite of this, the Dow is 22 pts Less today than eight and a half weeks ago...
Maybe tomorrow it will spike up 300 pts.. who knows..
But we take joy and comfort when we see the Dow keep dropping and all those smug Investors and finance know-it-alls look like the morons which they are.
They all begged and pleaded and demanded and expected QE3 for 19 months! 'Please Mr Fed Chairman... Please give us more $$!! We don't care what happens to the American people and how this free money is to be repaid... just give us more $$ NOW!!!'
And thanks to the Law of Diminishing Returns, the market is down 2% since QE3 was implemented.
'We're getting close to stocks being a real bargain; an excellent buying opportunity if you know what to look for..'
No one in a position of power, wealth and/or influence has the courage to openly say what needs to happen since it would adversely affect them so drastically... That the market needs to be allowed to Crash; to cause all those who've profited the last 3.5 years since the March 2009 lows to lose Everything earned.
And once the market reaches a sincere bottom point with Zero Federal Reserve interference, and investors come in to start buying cheap stocks, then the market will once again be correlated directly to the success of the US economy as it had for most of US history; it would rise and fall based on real economic fundamentals like corporate expansion, increased job hiring and quarterly dividend (profit) reports..
In other words, a Wall St where the success of the investor/trader is based on the success of everyday people being able to find good paying jobs, having the means to purchase goods/services without total dependence on debt acquisition and the 99% become the motor to turn the economy around for the positive.
Will it happen? Who knows... Doubt it. But that's why nothing in the last 4 years concerning the economy has been solved... too much artificial manipulation
Posted by Susquehanna at Wednesday, October 24, 2012