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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: Chispas	10/21/2008 1:33:15 AM
	3 Recommendations of 116555

Rick Ackerman - "‘Value’ at Dow 10,000 " - Is the Fed pushing on a string once again? Almost certainly; for to believe otherwise is to assume the economy will recover if Paulson and Bernanke simply pile up enough bailouts and rescue schemes. Yesterday, Bernanke merely let it be known that he favors more fiscal stimulus, and bulls stampeded again, pushing the Dow Industrials up more than 400 points. The blue chip index ended the day at 9265, so we’ll say it again: If you think the Dow represents value anywhere near 10,000, you deserve what’s coming. The same goes for the still potent army of imbeciles who evidently believe that more credit is the cure for a credit deflation. This is about the stupidest idea we’ve heard since Alan Greenspan told us that inflated real estate values constituted “wealth”. *** news.goldseek.com

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