I'm sick of it, too. But I think it may just be what happens when there are no more investors in the market at all. I read Hussman almost every week, and he'll go on about how stocks should be priced as fractional shares of corporate cash flows, and only the portion that is actually returned to shareholders. Of course he's right, if you're an investor. But investors are gone from the market completely.
It's kind of like saying in 2005 that a banker should only write loans that he knows will be repaid. Look at what happened. If you were the wise banker, you spent years losing business to the jackasses who milked the system for all they could. Then when the shit hit the fan, the f**kers got bailed out, and the good guys got to pay for it. All the while, it's being aided and abetted by that d*ckhead Bernanke and TTT. If we had real leadership at either the Fed or Treasury, this bull$hit would have been stopped cold years ago.
All that's left are gamblers who are playing game theory, be it on Wall Street or in banking, and a handful of fund managers that have to be 100% invested all the time, since that's the way to keep their jobs.
Nobody is paid to think any more. It's ruinous for the country, but hey, f***kin' party on.
`BC |
