Present Reutes headline on Yahoo/AT&T:
"Greeks Pass Austerity Bill as Athens Burns"
I LOVE this headline, because it again exposes teh econom;ic fascists on Wall Street as The Stupidest People on Earth. You will otice that theDow is again pretty close (in percentage terms) to an ALL TIME HIGH. In other words, Wall Street is yet AGAIN ignroing the RISKS obviouis in the eeconomy and in the world We are in another STOCK BUBBLE. These peole NEVER learn, which is why they trul are Te Stupidest People on Earth, who adopted ECONOMIC FGASCISM as their governing philosophy, along with "Bailout Ben" Bernanke, to escape the consequences of their own STUUPIDTY. You might want to remember the dot.com STUPIDTY, and the Enron/WorldCom SSTUIDTY, before you conclude that these things are any kind of aberration for the people on Wall Street. Yuo might want to consider that essentially EVERY bank in Texas went broke in the 1980s oil price bust, and that essentially ever savings and loan went bust in the 1980s because of the same kind of real estate BUBBLE that occurred with housing, before you start thinking these eole are SMART. They are, I repeat, The Stupidest People on Earth. However, they again think they have it figured out . There is a dIFFRENCE this time. Wall Street thingks that they will NOW ALWAYS BE BAILED OUT. That is why they mave mainly become ECONOMIC FASCIST (defined as the philosophy of a "partnership" between Big Business/Wall Street to run YOUR lives for THEIR benefit).
That brings us to Greece. Everyone--I mean everyone--knows that Greece is BANKRUPT and has NO chance to ever pay its bills. This situation has NOT improved over the past year. In fact, it has gotten WORSE, as Italy, Spain, Ireland, Portugal and who knows what oter countries in Europe have teetered on the edge of fiannacil ruin. Even FRANCE is in danger. Wall Street is unphased. The U.S. stock market has gone UP as the situation has gotten WORSE, and mroe dagerous. Sure, we MAY survive, but Wall Street refuses to price in the obvious RISKS out there on multiple fronts (including in the Middle East). Why? Because of this "new" philosophy of ECONOMIC FASCISM, where Wall Street looks to GVOERNMENT, and especailly to CENTRAL BANKERS (who FAILED totally to be a positive factor in keeping this from happening in the first place), will continually "bail out" Wall Street (including European countries whose default would be an economic danger to the STUPID peole on Wall Street, and in the worldwide financil commmunity).
What has caused the stock market to go up recently? That is easy. First, and foremost, we are taling a COMPUTER GAMING CASINO, and this is mainly about computer program trading and MOMENTUM. Computers have merely made it easier to do what the STuPID peole on Wall Street have always done: assume that BUBBLES don't happen. No, you are CRAZY if you think that almsot ANYONE on Wall Street has "learned" this lesson. They have not. And they LIE (really knowing they are lying) if they tell you differently (as they often do). But what has allowed Wall Street to ignroe the OBVIOUS risks of Grrece, Euroope and the rest, and rely totally on momentum as if there are no risks out there, is this idea that this is all a GAME economic fascism, where governement and central bankers HAVE THEIR BACKS. This means that Wall Street thinks we can IGNORE that Greece in sbankrupt , and Athens burning, because there is ALWAYS a "deal" announced to PAPER OVER the problem
Greece passes an "austerity" program, and the ECB/EU adopts a FICTIONAL approach to suggest that all of these "deals' and "bailouts" make the "problem" MANAGEABLE> Yep. That is how bad things are. We are relying on MEN (who have already FAILED) to MANAGE the economies of the WORLD in a central planning mmanner to PROTECT WALL STREET (oh, maybe all of us,too, but that is mainly a byproduct). This is why I end up in a fetal postion, laughing hysterically, alll of the time. OBAMA says all of these horrible things about Wall STreet, but Obama is now Econoci Fascist-in-Chief. He thinks that all of these financil/business people are STUPID enough to "partner" with him to run YOUR life. (and the economy). The tragedy is that Obama may be substantially right.
Again, this is ALL FICTOIN. Everyone knows that Greece can NEVER pay its debts--no matter what "austerity program" causes Athens to BURN. But the CNBC/economic fasicst mantra is that he need to PRETEND this is not ture, with "deal" after del", to aovid a "disorderly default". Give these supermen.........................................................................................................................sorryk almost did not make it up from the floor that time...give these supermen enough time and they (bailout politicians and central bankers) can PAPER OVER the problems so that they just ssort of fade away without ever really being "solved". Did not "Bailout Ben", with "quanitati ve easing" 9printing money, although he blatantly LIED and denied what everyone knows that is, "save Wall Street already. Is "Bailout Ben" not STILL bailing out Wall Street and the banks every single day, an dpromising to ARTIFICIALLY hold down intereest rates through 2014? Forget the Weimar Republic. "Bailout Ben", and the new economic fascists of Wall Street, have "reinvented" a perpetual motion machine. Just PRINT MONEY in the "right' way--never amkng a mistake in timing or execution--and you need NEVER worry about bankruptcy or financial collapse. And the dot.com stocks were gong to make everyone rich FOREVER. And the price of houses would keep going up FOREVER, as EVERYIONE got his or her own house (:whether they could afford it or not).
You see why I am a pessimist. HOW can we SURVIE this idiocy? Debt does not matter, so long as you have a Soviet Union "Ten-Year-Plan" in place ("Bailout Ben's" OFFICIAL position, and the positon of ALL of CNBC and both political parties). No. It is almost impossible to believe we can survive this. And Wall Streeet? Those idiots keep talking aobut 'risk on" and "risk off" COMPUTER TRADES, as if sometimes you EMBRFACE RISK, and sometimes you don't. But what you NEVER do id embrace REALITY--including factoring the REAl risk into every trade you make.
Oh, my "advice" (you get what you pay for), IF you are insane enough to TRADE in this computer gaming casiono called a stock market, is to SELL into rallies (such as we have recently had), and to BUY into (major) declines (which we had this last summer). Yes, I HAVE followed my own advice, BUYING ( as Jim Cramer was telling you the opposite) as things looked BAD, and SELLING into the present rally. Thus, I WAS 80% or more in the stock market at some pont this summer. Now I am about 1/3 in the stock market (as little as I--fool that I am--ever get, although that will change if the market continues up here). No, you will note this is NOT about whether we are in a real "recovery" or not. It does not matter for this advice. My own feeling is that we have made a true "recovery" IMPOSSIBLE, and that the United Sates is likely heading for an eventuyal collapse. If we ARE in a "recovery", it is likely to be short lived, and weak. Again, the stock market is acting like we are in just as good a shape as the BEST years of the Bush Administration (yo remember how WELLWall Street "predicted" the future of the economy in the fall of 2007, as the Dow reached a NEW RECORD, even as we headed into economic collapse). No, my SHORT-TERM trading "advice" is based totally on the obvious fact that Wall STreet NEVER LEARNS. Taht means when things are lookng WORST is when yhou should BUY, and when the stock market is looking BEST is when you should SELL. (all within reason). It especailly makes no sense to BUY when the stock market is close to an ALL TIME high, even as the RISHS are OBVIOUS to every single person.
Back to the bottom line: I LOVE the above quoted headline. More than anything, it ilustrates why a "political deal" doing what CENTRAL BANKERS and WALL STREET want done, as econmic fasicsts, does NOT mean that things are fine. This is all a house of cards, aand we are dong little to make it anything else. The big bad wolf is at the door (to mix metaphosrs and/or references), and we are doing NOTHING about constructing a house of BRICKS. All we have is STRAW, and it is FICTIONAL straw at that. (If you can untangle the references in this paragraph, you are a better person than I am--I certainly have no intention of trying).
P.S. No proofreading or spell checking (bad eyesight) .It will be interesting, won't it, to see whether Wall Street, tomorrow, butys into the Greek "crisis", and the European "crisis",, being SOLVED by all of these fictional "deals", or whether Wall Street will pay any atttentino to the reality of Athens burning (not to mentino the reality of this all being fiction--"austerity program" my eye). Yo will note that I am being no harder on GREECE than I am on ou own TEA PARTY politicians. THEIR (our TEA PARTY GOP POLITICIANS) belief in "austerity" is the SAME as the Greek politicians, and the EU politicians, involved in thsese fictions. This blog has, for weeks, shown you that the GOP,--even the TEA PARTY politicians int he GOP--have NO belief at all in really doing what they SAY they want to do. Notice that Wall Street and the GOP are really the same: ANY "deal" is a "good" deal. All that is important is that a DEAL be made that can be SPUN to avoid facing reality . Wall Street believes in FANTASY. So do politicians. None of them have any intention of facing REALLITY. Look at that fraudulent payroll "tax cut', wehre ANY "deal' will be hailed as a "good" deal, even as we add MORE than 1100 BILLION to our DEBT with ANY (possible) "deal". Good luck on this arti le. It is fairly late on a Sunday night, and I anticipate that I will be lucky if at least half of the sentences are not hopelessly grabled lby typos (beyond whatever garbling myh tired mind may come up with). As I have said, however, you should PAY me for giving you these challenging PUZZLES to figure out--such as how each sentence was actually supposed to read, and what each word was supposed to be. ENJOY the puzzle. Peole pay god money for less challenging puzzles. I still just LOVE this headline (both mine, and the original one "featured" on Yahoo "News").