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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (266004)	8/3/2010 11:09:37 AM
From: TH	Read Replies (2) \| Respond to of 306849

SB, Yes, short term anything is possible. I believe the market is claiming all the news is lagging, but they are not looking ahead at the trends. Savings, reduced consumption, housing (lack of demand, inventory, price trend, yada yada), and the list goes on and on. All ignored. I did catch a bit of that story. Funny stuff, but unintended consequences are expected when the gubbermint is involved. The Fed's job is to manage the market. A buddy told me a story from many years ago. He was having dinner in NYC and sat next to a group of traders. At the time my buddy was bearish and all these traders were wildly bullish. He talked with them and they basically said that none of those bearish facts matter, for the Fed has their back. There it is. The street believes (correctly, I might add) that the Fed will be there to serve the bullish position, irrespective of the economic data. Of course if that really worked the Dow would be 20K now and gold would be $250. People like to believe in things. I'll counter your GM with my P&G <g> Anyway, the market is insane. Nuff said. GT TH