You know how we feel by now.. add a '1' and a '0' before the 75 and you will really have us smiling..
The reason for the drop is the fear by the rats and roaches that profit amid the muck that their free meal ticket will be if not eventually taken from them, at least scaled back. Also the very real likelihood that ultimately the Fed is going to have to raise interest rates-- can't keep them at near zero forever..
Poor Babies! Aww..
From MarketWatch.com (in blue font):
"This is what Wall Street Journal’s Matt Wirz wrote in March:
"The Fed won’t be able to keep a lid on interest rates forever. So large money managers such as BlackRock, TCW Group and Pimco are getting ready for the day when rates take their first turn higher. It isn’t coming anytime soon, these investors say. But when it does, they worry, the ascent will be swift and steep.”
Get defensive now, start preparing for a crash ... later is too late
Get it? Rates will go up. Way up. Very fast. And America’s 95 million Main Street investors will be unprepared. Markets will crash. Like 1994’s 24% bond crash after Fed rate increases, notes Wirz...
Warning, a crash is more likely to happen in August 2013 than in 2015 when the next presidential election campaign is kicking into high gear. So start preparing for a crash when the new Fed chairman ends cheap money. "
Did you know: Stock markets have recovered all of the $10 trillion lost in the recession, but homeowners are still $5 trillion underwater..
And did you know according to the Pew Research Center, the highest-earning 7% of the population saw their net worth grow by 28% between 2009 and 2011, while overall the net worth of the remaining 93% of Americans dropped by 4%..
For instance you take $85,000,000,000 (that's what it looks like- 9 zeros) which of course as you all know by know is what the Fed is spending Monthly to buy toxic assets and other crap to artificially inflate the economy..
OK, so you take $85,000,000,000 and divide by 30 days in a month..
That equals $2,833,333,333 a day ($2.83 billion)
Now take that number and divide by 24 hours...
That equals $118,055,555 or a little over $118 Million spent per hour
That equals $1,967,592 every second... tick.. tock.. tick.. tock..
Here's another way to look at it..
People like to complain that the government spends too much and depending on their political affiliation, they target different things.. 'Too much spending on military.. too much on Medicare...
The proposed military budget for the Department of Defense 2014 is $614 Billion. This covers everything from munitions to weaponry to maintaining bases to salary..
That means the Fed will spend in a little over 7 months, the entire totality of National Defense and the salaries of hundreds of thousands of people who are employed in this area...
The estimated government outlay for Medicare in 2014 is $512 Billion.
So if you divide $512 billion by $85 billion...
That means it will take that despicable parasite Ben Bernanke only six months to pump into the stock market what will cost the Federal Government to cover medical costs for millions of elderly and disabled over a 12 month period.
And these piece of Garbage investors and traders are so accustomed to living high on the hog, that the slightest sniff-whiff of a pullback and they will pull back and potentially derail the Fed's imaginary 'recovery'...
No different from 'The Great Gatsby' -- as long as the champagne was flowing and the band was playing, everyone would stay till dawn to enjoy the big free shindig and no one could have cared less who the host was, much less what he looked like or how he got his money..
You know...Bernanke is quite pathetic. Think about it...
$85 billion monthly is quite an exorbitant sum to toss out just to be liked...