One of the areas in which this blog has been proven right more conclusively than almost any other (possible exception of the mainstream media) is this statement: WALL STREET PEOPLE/TRADERS ARE THE STUPIDEST PEOPLE WHO EVER WALKED THE EARTH, WITH WALL STREET COMMMENTATORS/"JOURNALISTS" AT THE TUP OF THE STUPIDITY LIST.
As readers of this blog know, I first made this statement at the time Wall Street (Paulson was a Wall Street man--former high paid CEO of Goldman Sachs, which he drove to the edge of doom--doom which it escaped only because Paulson sacrificed the country to save Goldman Sachs) engineered that first bailout bill. That included blackmail, as Wall STreet threatened a disastrous stock market if Congress did not do the bidding of Wall Street. You will remember that the stock marekt collapsed anyway, even after the Wall Street bailout was passed.
Indeeed, that is what convicts Wall Street people of being the stupidest people that have ever waled the Earth (okay, I admint that there is no way for them to be as stupid as Nancy "Total Failure" Pelosi). Do you realize that the stock market has not moved since the collapse last October?
You say you remember 1000 movies up and 700 moves up. Right you are. How can you doubt me that these are the stupidest people on Earth? Who is it that BOUGHT as the stock market was makeing these FICTIONAL moves lupward ("fictioanl in that they were created by the computer gamers that have turined Wall Street, and not based on any fundamental economic developmenrts). Since that ime, this blog has documented the absolute stupidity of Wall Street traders, as wild up moves have been followed by wild down moves: all "sound and fury, sgnifyinb nothign". That is, these wild, irrational swings signify nothing other than the utter stupdity of Wall Street people and Wall Street commentators. This blog has documented irrational action after irratioinal action, as Wall Street has turned into a totaly computer gaming casio ("sick" is the term I have used).
And it has not stopped. Las week the Dow went up 200 points--and promptly went down 200 points te next day. The Dow went up 173 points yesterday, and is down `100 today (wh9 knows how it will end up--it depends on the computer trading in the last hour--not on any fundamental development--despite the solemn pronouncements of market commentators aboutt he totally fictional "reasons" for each day's moves).
Now the NASDAQ is doing much better than the Dow today. Can I explani that? Yep. It is all lpart of the computer gaming that now dominates Wall Streeet. Hedge funds/computer gamers have this strategy known as "paired trades". That meanss that these irrational traders may "sell hsort" (bet the particular part of the market is going down) the Dow today, and buy the NASDAQ. These are very short term traders, and not "investors". Therefore, these same people may buy the Dow tomorrow and sell slort the NASDAQ. They do the same with individual stocks, which is one reason out of favor financila companies were driven to ruin by short sellers on Wall Street (even as other stocks sometimes did ok). eIt is all moomentum, computer program trading. If you ananlyze stock market "moves" without taking this into account, you are a total idiot (which applies to all of CNBC).
Ask yourself. Who has been right on predicting stock market action since October (not individual stocks, where my picks are hopeless)? Have the Wall Street "professionals been right, or has this blog been right? There is no contest. This blog has been right all along the line.
Notice I am NOT saying which DIRECTION the "market" will go, or which direction it should go (albeit I see no reason for government announcements to "cause" some of these irrational moves up, since the government has not shown the ability to "save" us). I am just saying that these wild swings are irrational, and the sign of a truly sick stock marekt.
Yes, Wall Street people are so stupid that they are killing themselves off by threatening to bring down the entire stock market trading system (which should be "brought down", in the sense of doing something about this computer program trading).
Q.E.D. Wall Street people are the supidest people on Earth (so long as you leave Nancy "Total Failure"Pelosi and her leftist chums out of it, and mainstream media "journalists").