Sir Alan Greenspan and his Merry Freinds!!!!
Through the modern technological miracle of the conference
call, Sir Alan Greenspan conferred with his band of merry marauders on the Federal Open Market Committee. No one knows exactly what they discussed, as the elite bankers at the private bank entrusted with the incredibly important US economy are not accountable to the citizens of the United States of America or our elected representatives. In the hastily called emergency meeting, we can only know for certain that Greenspan made a decision… CHARGE!
Following the discussion at the virtual round table, Greenspan donned his shiny armor and buckled on his fearsome weapons. He then mounted his mighty war steed, Monetary Policy. Suited up and ready for action, Knight Greenspan rallied his troops. In a bellowing voice he shouted, “Moral hazard be damned! The time has come to rout out the bane of these markets, those infernal short sellers.” A great bloodthirsty cry of joy collectively resounded into the sky from the Knights of the FOMC Round Table. With one final bloodcurdling war cry, Greenspan leveled his 50 basis point lance and charged and the galloping herd of FOMC armored cavalry shook the countryside like rolling thunder.
Meanwhile, the Barons and Lords of Wall Street, those unfortunate multi-millionaires who Greenspan and his posse were desperately riding to save, were having a rough time. After all, the crucial kingdoms of Cisco and Intel had just been shaken with news of internal strife and dismal business environments. The Masters of the Universe on Wall Street were getting scared. They feared that the mere peasants, the average middle-class American investor, would desert the leadership of Wall Street and sell their shares en masse. Such an event would be “The End of the World” from a Wall Street perspective!
The Wall Street Barons were usually good at leading the average naive investors around by their noses like a herd of retarded sheep, but they feared a peasant revolt as 401(k) statements laid bare the devastating market performance of the first quarter. The Lords of Wall Street had begged, had pleaded on their knees, that their savior, the privately held United States Federal Reserve Bank, would ride to the rescue. They had just about given up on their impassioned pleas for help, when suddenly, on the horizon, stood Knight Greenspan and his riders, lances held high, glinting in the midday sunlight. A cheer of joy erupted on Wall Street. The saviors of the market had once again come to protect the Wall Street Barons.
Wall Street calls it “The Greenspan Put”, and it is well known throughout the US stock markets. Unfortunately, capitalism will ONLY work when traders, big and small, have to face the consequences of their bets, win or lose. Capitalism cannot work efficiently when risk and accountability for an entity’s market actions are magically erased by the US Federal Reserve.
If the second surprise rate cut is simply to bolster mania-type psychology and encourage speculation in still ludicrously overvalued stocks, it is awfully frightening. Even if that was not Greenspan’s intention, it was the result. The biggest gains the day of the rate cut were not in traditional companies making money that can truly benefit from a rate cut, instead the speculative hot money poured back into the frothy already massively overvalued tech stocks after the rate cut. Companies trading at more reasonable valuations tended to be sold off on the day as money lusted after the tech stocks once again. If Greenspan cut rates to manipulate the stock market, the US is in a world of hurt.
So for all you Bulls run run and buy buy these dogshit companies, they are going down boyz and girlz and hard.
Hey American Spirit Shorts take a vacation, are you kidding buddy and miss the opportunity of a lifetime to watch these
dogshit companies go down never.
I have never made the amount of $$$$ I have made on the LONG side, only $$$ to be made is taking these BLIMBS back to reality, put em to rest in the doghouse.
Spirit you wanna be the bagholder, go ahead its your cash. |
