It appears the Bernanke, Geithner, LLP has the Perpetual Motion Machine working perfectly at the moment. Bank shares grinding up, gold and oil prices capped and collared, and bond prices spiking immediately prior to each of the giant auctions. And don't forget the constant and continuous breakout parade in various stocks. All happening admidst a deepening recession.
Its a complete command and control economy as the Washington and Wall St. elites have been able to successfully stave off each and every crisis over and over again.
As my buddy Rasputin sums it up...
Rasputin - Thu, Jan 14, 2010 - 10:55 AM
Question: What is the total number of "Doom and Gloom" titles, setting an all-time record, Rasputin just counted on the shelves in the "Economics" and "Investing" sections of his local Barnes and Noble?
Yep, that's right folks. A staggering, unprecedented, array of 35 "We're Scroomed" tomes can be found to tittilate the deepest fantasies of hard-core bears.
Sheesh, at an average price of twenty-five fiatscos each, a guy could bankrupt himself buying them all--making their prophecies a self-fulfilling one for the hapless fool who falls for their fallacies of economic collapse.
I fully expect to see every one of these titles being offered in the "Bargain Bin" in less than six months as the current reflation of the stock markets and economy continues.
Furthermore, I'm embarassed to admit that I actually used to buy, read--and more importantly--believe all these charlatan's claims that the economy was gonna collapse any minute now, they swear.
But no longer will they separate an enlightened Rasputin from his fiatscos. Nay, I have been converted into a true believer of the infinite power of the Fed and Uncle Sugar.
So what was moving today??
First on the leaderboard was a 10% romp in Textron..
Regional banks like Suntrust, racked with billions and billions of commercial real estate and consumer loan delinquencies.
And with 20% of Americans unemployed, don't forget the hotel and leisure sector. It appears that unemployment benefits are being parlayed into Marriott vacations and timeshares now.
And BIDU extends its streak. Must be Goldman chopping off the knees of one of its biggest clients who is stuck with an outsized short position..
And now we get to watch the 4th quarter unveiling of Silcon Valley's oldest supermodel.
We don't know which Kathie Lee we are going to get.
The "resubstantiated" extreme makeover version?
Or the beaten, haggard, old maid version?
So which is it going to be??