re: "We've heard all these voices of gloom and doom over and
over again. Getting a bit boring."
Message #106012 from ecrire at 1/2/2010 10:53:15 AM
***********
Now I hate to piss on anyone's parade when things are going
so good. Especially when they're only 3,696 DOW points and
35% away from getting back to even with October 2007.
I mean it's not like the DOW closed out the last decade
in December 1999 at 11,497, or anything.
Gloom and Doom?
17.2% real (U6) unemployment, 1 in 8 Americans on food stamps,
housing prices still falling, pension funds going broke,
commercial real estate crumbling, and states and cities
collapsing into the abyss left and right.
Not to mention the banking system is still insolvent,
both the FDIC and the PBGC are broke, and neither the
derivatives problem, or "too big to fail" has been solved.
Throw in a war on two fronts, another in the offing, and
social unrest growing on four continents, and you have to
wonder -- what were they thinking?
You can add another gloom and doomer to that list,
this one being one of the chief architects (and beneficiaries)
of the bankster-gangster mess - Robert Rubin.
Now I know this is down right blasphemous on this board <vbg>,
but Rubin is actually worried about inflation, along with
"severe distress in the bond and currency markets"
over America's soaring debt, deficits, and spending.
He also warns that a severe market dislocation could
occur with "great force and unpredictable timing."
newsweek.com
But hey, why worry, what's $23.7 trillion among friends?
It's not like Pimco is dumping U.S. Treasuries, India
is buying gold, or China, Russia, and the G-20 are
still calling for the end of the dollar or anything.
And don't pay any attention to Martin Feldstein either,
he's just flip-flopped so he can get some camera time and
sell some more books...
blogs.wsj.com
I mean it's not like they just had to give Fannie & Freddie
an $800 billion dollar, life sustaining, blood transfusion
or anything?
And just move along, because there's nothing to see here either...
bloomberg.com
Pay no attention to that little $4 trillion dollar slush fund
Congress just handed Bennie & The Fed in HR 4173 for the next
(when, not if) systemic meltdown.
And regarding that little addendum where Congress would be
limited to only a 10 hour (ceremonial) debate before the Fed
can just start handing out the cash again... hey, it's not
like this is a democracy any more or anything - get over it.
Don't worry - be happy!
SOTB
PS: And about the Dow rally, at what cost?
Is it real, or is it Memorex?
"Is The Government Buying Stocks?"
zerohedge.com
So simple, even a caveman can figure it out...
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