Comment from By Paul B. Farrell, MarketWatch Soft landing? Worst is over? Recovery? Buy on dips? Strong economy? Hey, what happened to all the self-serving happy-talk of a month ago? When will we ever learn that the relentless daily onslaught of "news" spun by Wall Street is 99% brainwashing hyperbole and 1% reality, all scripted to manipulate the great American herd of 95 million investors. Sorry to be so darn blunt, but watching the high-drama of the post-14,000 meltdown on the Dow industrials made me mad as hell because it was so predictable ... record volatility as Wall Street went ballistic with every breaking news blip ... hedge funds bleeding money ... mortgage company failures ... a metastasizing credit crush forcing foreign banks to pull the plug on subprime deals. http://www.marketwatch.com/news/sto...x?guid={FD6E8E92-1066-48E1-BD24-49D6B2362AB9}
boys, there are funds out there levered 60, 80 to 1. As the Carnival Barker said in front of the bearded lady, "You aint seen nothin' yet."
I'm pretty bearish and cynical about Wall Street and its BS, but that article is a poor and shallow excuse for analysis. Invective like that gives cynics everywhere a bad name. What a shoddy piece of work. If he'd written that six months ago maybe it would have been insightful. Today it's just another trend following sheep getting on the financials-bashing bandwagon. Who's this Paul Farrell anyway? He comes across as an utter tool.