Registered: Sep 2005
10-19-09 01:49 PM
I couldn't agree with you more SA.
Quote from southamerica:
October 19, 2009
SouthAmerica: The Wall Street talking heads usually they try to put all kinds of positive spins on meaningless information.
As a matter of fact what used to be bad news, under the new Wall Street strategy they are supposed to spin all kinds of bad news as if it were good news.
As people keep losing their shirt in Wall Street, I guess they also become dumber - and they are supposed to accept all kinds of bad news, and completely distorted financial information, as the new solid foundation to help move the stock market up.
Just A Reminder:
Today Americans are so out of touch with the realities of the US economy with so much US government intervention and all kinds of market distortions all over the place that they even have forgotten to follow up on a long standing Wall Street tradition - that in the month of October we are supposed to have here in the United States a major stock market crash.
Just like about a year ago in the middle of the black week, everytime some one bought off the ask, the guys on CNBC would be going crazy saying the bull market is back!
Wall Street usually gets this irrational mentality whenever there's a bubble brewing... Since the bottom of the market a few month's ago, we've seen a rally that's based on Hope... We're hoping that the promises of Obama's money printing are going to create jobs, increase consumer spending, improve consumer confidence and keep the Chinese happy with their $2 T of bonds... in fact, so happy that they want to buy more...
Basing market expectations on hope is never really a good idea...