Discussion in 'Stock Market' started by Baruch Menachem, Aug 9, 2011.
useful article. I like Ben, but I realize for a lot of you it is a matter of YMMV
When the herd is already spooked, it isn't too awfully hard to get them to stampede.
Do I KNOW that is what is happening?
But such events as these have been known to happen.
On the irrelevancy of Obama:
The most powerful man on Earth? - The Washington Post
I'm not sold on the markets 'ignoring him,' as they started out negatively stable for most of the morning, then teetered just before he would appear, crashing during and after. He brought nothing new to the table, same old blame game and repetition of sharing the pain.
He has spent all his important capital: Moral and political. He's got no game. I think he knows it too, which is why he's planning on spending the rest of his term raising capital of the greenback nature.
Well here's the deal. Government like money is a human construct. An abstract. If you put people into the government who hate it, who don't want to govern, who want to nullify elections...then guess what.
The government won't function and ceases to be relevant.
This is what you guys want.
This is what you guys got.
It is useful to remember that stock markets are small groups of people prone to panic attacks.
Those of us old enough to remember the earlier days of the Reagan administration can remember the Granville stock panic, when one guy managed to spook the market down 300 points in a morning. within days the loss was erased by the end of the next day.
One of the reasons when I hear about "Technical" stock investing, I laugh.
The U.S. stock market is a JOKE. It is built on a foundation of speculation, paper wealth, and extremely creative Ponzi schemes that never cease to amaze me.
Anybody who is playing around in the stock market right now is playing with fire.
Art Cashin made some remarks on CNBC this morning about yesterday's events and today's and Monday's prospective events. His remarks were that this appeared to be setting itself up for the classic "Thursday-Monday" trading cycle, the first of which preceded the October, 1929 Stock Market crash that ushered in the Great Depression: ie Thursday is a massive down day, Friday trading is choppy but not necessarily grossly negative in direction, but the following Monday is a selling climax. Mr Cashin then added a little euphemism when stating that this type of event is usually followed by a pronounced rally. Sorry Sonny, er Art, that didn't quite happen in 1929.
You gotta love it.
Ben Stein, pusher of "magical creation" as science.
corporate profits are extremely strong
large corporations are loaded with liquidity
The luxury retail sector is powerful.
Autos are excellent.
The agricultural sector is stupendously strong.
High tech and biotech are doing well, sometimes amazingly well.
Yet, the president, who saved the auto industry is awful. Everything is doing well, but the president is awful.
THE EXACT OPPOSITE OF BUSH.
Bush was doing "extremely well", but everything else turned to shit.
That's why Republicans live in the "Bizarro World".
why does rdean keep repeating that obama alone saved the auto industry? apparently he "forgot" bush's role in TARP.
An interesting blog on a very provocative BBC interview on this topic.
BBC Speechless As Trader Tells Truth: "The Collapse Is Coming...And Goldman Rules The World" | ZeroHedge
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