If nothing else disturbs you while you buy your NFLX today – that last one should. Rich folks in an industrialized nation trying to go to the theater in their limo and being attacked by an angry mob.
Does all of this rhetoric mean anything or is all this just another batch of empty promises to add to the long list of empty promises that Barack Obama has already made and broken?
The key driver for the markets continues to be the dollar, which is making more sense now as it saved the Dow and the S&P last week (50% of revenues come from overseas) but not the Russell (10% of revs from overseas) or the Nasdaq (30%).
Speaking of people who are willing to sell their country out for a Dollar – GE had excellent earnings and I got my daily "WHUCK?!?" moment this morning when Obama named Jeff Immelt the head of his Economic Advisor Panel
Austerity has arrived in America. At this point, it is not a formal, mandated austerity like we have seen in Europe, but the results are just the same.
The new "global economy" is designed to funnel more and more of the wealth of the world into the hands of the wealthiest 0.001% of the global population. Everyone else is left to fight with one another to divide up a pie that is increasingly shrinking.
I was reading his "I Have a Dream" speech and it really is amazing when you think of the great social change in this nation that was set in motion by one man with a vision.
Pervasive bullishness combined with current market fundamentals, the need for QE2 to continue (amid hints of QE3 and beyond), and the mass outbreak of riots over runaway inflation, leaves us rather reluctant to start waving our market rally pompoms.
The law has been changed not only to keep the guilty out of jail but to preserve their exorbitant profits and bonuses at the expense of their victims... To do this, the Federal Reserve had to take “extraordinary measures.”
