Dow crosses 13,000 for first time since May 2008 ... Market sentiment was boosted by news that euro zone finance ministers secured a deal that will enable Greece to avoid a March default.
A deal on the 130 billion euro ($172.47 billion) bailout was reached after Greece was forced to accept unpopular fiscal measures, and private bondholders agreed to steeper losses. Analysts said the deal was already priced into the market, which showed a muted response as initial optimism waned on questions about Greece's dismal economic outlook. "Any pullbacks will be looked at as potential entry opportunities as investors, in many cases, are underperforming the benchmark S&P 500. As the market keeps impressing, market short-players will be forced to reconsider the macro bets they've made, and thus a run to cover could propel another upside surge." – MSNBC
Dominant Social Theme: Let the good times roll.
Free-Market Analysis: In a number of articles now, we dealt with the idea that the economic statistics were being manipulated in the US to try to ensure Barack Obama's re-election.
How does something like that happen? Well, you have to assume that there is a powerful elite that directs the media at a high level. Of course, it helps that US media has "consolidated" to about five companies in total. If one owned those five corporations, it wouldn't be difficult to manipulate news.
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The stock market is not an indicator for local economies but Washington always says it is.
ReplyDeleteIf you idiots would spend half the time studying to the issues that you spend on crap conspiracies you might notice that large companies are making bank right now by selling products (sometimes at inflated prices) while slashing the workforce. So much for those do gooder job creaters who just needed another tax break.
ReplyDeleteIt's all the phony cash the federal reserve is pumping into the system.Soon to take a nose dive.
ReplyDeleteAll you have to do is print up a bunch more money and hand it to Wall Street. The buying spree begins and stocks go up accordingly, almost as if by magic!
ReplyDeleteAnd the Republicans think we should put all the social security money in there too. Bush was pushing to privatize before it all came crashing down. More commissions for their buds.
ReplyDeleteRIGHT ON 3:29, that's what i was going to say, you can tell how much is fed driven by checking on the prices of gold and silver. If the dow goes up and so does the price of silver, then it's the government printing more money to give to their goldman sachs buddies to prop up the corporate house of cards.
ReplyDeleteOr maybe it's just folks who are smart enough to buy stocks when they are relatively cheap instead of running to e-trade when the news channel decides to tell you "hey stocks are booming"
ReplyDelete