Registered: Dec 2005
09-19-12 07:44 PM
Quote from Chausey:
But it is working. The markets are going up. Who in the room doesn't understand this? These economists hyperventilate because the Fed can't keep what they do a secret anymore. Which is nothing. It's just about money and debt, creating enough new debt to purchase the old debt. Wash, rinse, repeat. By the way, what the hell is the alternative? A DOW at 6000 or lower? 20% interest and 50% unemployment? It's not a perfect system, nobody said it was. But none of the ass hats are smart enough to invent a better system, so STFU and buy.
The S&P 500 is around the same level it was in 2000, yet gas prices are three times higher. Money markets, CDs and other "safe" investments are yielding near 0%. Unemployment has gotten steadily worse over the last 3-4 years. If you take out factor out all the manipulations re: workforce participation rates, the actual unemployment rate is close to 19%, not 8.1%.
Asset bubbles, in and of themselves, prove nothing about what's working.