NBC has a story out today taht the stock market is doing well because Wall Strett expects (and wants) Obama to get re-elected. Rush Limaubh, today, rightly called that a CROCK. Problem: Rush has always been FULL OF IT on the stock market--having no clue--and this blog has told you so for years. When the stock market goes down, Rush says it is al because of Obama. When the stock market goes up, Rush says it is because of OTHER THINGS 9unless Bush is nin office, in which case it is and endorsement of Bush). This blog does ot palay those PARTISAN games, with no regard for the turth (which I don't even think Limbuagh knows about the stock market--it being merely convenient form him to blame Obama wehn things are going wrong ANYWHERE, and not credit Obama when some things are going right).
Thus, in (around) March of 2009, when the stock market was WAY DOWN, Rush Limbaugh was telling yoiu taht this was CONCLUSVVIE proof taht the "smartest people on the prospects of the economy (Wall Street) were telling you that Obama's policies were BAD for the econmoy. This, blog, IN FORESIGHT (even as people were saying this blog was anti-Obama all of the time), told Rush he was ful of ot, and did not lunderstand the stock market. For a long time now, the stock market has had LITTLE to do with the prospects fro the economy, because it has turned into a COMPUTER GAMING operation based totally on OOMENTUM and HYPE (to the extent it was ever anything else, and I do think there was a time when it was not qu;ite THIS bad). Therefore, I told Rush not to place such emphasis on Wall Streeet (The Stupidest People on Earth), because he would probably have to eat his words (no matter how bad Obama's polices were for the econmy, and tI agree with Rush that they have been bad).
Who was right, Rush? Maybe yoiu shoiuld apologize to Obama and the American peopele. I was right. You were wrong. And it had little to do with the econmy. From that low pont in 2009, the stock market went STRAIGHT UP for basically all of teh rest of 2009, before settling into a pattern of doing reasonably well in the fall/winter, and really badly in the summer (lthe old, computer driven, pattern since about 1994). Now this blog has told lyou that the ECONOMIC FASCISTS on Wall Street really are not "conservatives" (as Rush himself will tell you when he is not being PARTISAN), but that mainly means that they expect "Bailout Ben" Bernanke to take care of them . They expect to be the DOMINANT partners in economic policy, and they think Bernnke has given them that. I told yo uthee people are fools. No, they have not been especially against Obama, but look how absurd it is to say that the people Obama has called EVIL are al for HIM. No, this is a matter of HYPE and MOMENTUM--computer gaming. We are probably being set up for a wrenching DROOP in the summer, when Rush will tell you that is because Wall Street is afaraid Obama will get re-elected. It is really because there is almsot ALWAYS a wrenching drop by late summer. It is built into the computers. 2009, when wee were supposedly coming out of the recession and bouncing back from the computer-driven PANIC, was the main exception. NBC and Rush are the SMAME on this, and I was PROVEN right when I told Rush so in 2009. They are all DISHONEST, PARTISAN HYPOCRITES on this mater.
lDoubt me? Loook at 2997, when the stock market set RECORDS. Was NBC saying that meant Bush and the GOP had the right economic policies, and that Wall Street was encouraged by the prospects of a GOP victory int he next election? Dont be sily.. Like Limbaugh, these are PARTISAN people. Oh, did those RECORDS in 2006 predict the future? You must be crazy. At the very time the Dow was setting an ALL-TIME record, the ecoomy was poised to fall into the worst recessin since the Great Depression.
This blog has ong told lyo the truth. "Wall Street" is all about computers and hype now. There is very little connectin to the economy, or to reality. It is all fantasy. The only connectino with relity is that sometimes reality intrudes as a TRIGGER for the computers and hype. I have dexcribed it this way: There is no bottom, and there is no top (when the computer/momentum trading takes over).
More and more people, tired of the computer games and SMARTER than either Wall Street people or Rush Limbuagh, are recognizing the computer gaming CASINO that the stock mmarket has become. that iw why trading volue is WAY DOWN. The game is jsut too dangerous, unlesss you think you know how to play it. Does Wall street realy know how to play it? Of course not. YOU had to BAIL THEM OUT, or Wall Strett was going under. Now you may have been, and were, DUMB to bial them out, but that was more our leaders than you. Taht is economic fascism at work (the definition of which is a "partnership between bBig Business/Wall Strett to contorl the econm). If you want to call Wall Street peole "smart" for getting you to bail them out when they had DESTOPRYED THEMSELVES, then be my guest. I will continue the call them The Stupidest People on Earht (as I did BEFORE the econmic collapse in 2008). On this matter, as on most, you need to pay mroe attention to this blog than to Rush Limbuagh (often as it is that I agree with him).
"But Skip, you have contnued to 'play' the stock market." So I have. Have I said I am smart?" Okay, maybe I have. And I am. But I this is an area I let my ego get the better of me. I keep thinking I can outguess tlhese people on Wall Street. And generally I can. But where I was DUMB, and peole getting out of the stock market are SMART, is to think that I can ALWAYS outguess these wild sigzags in a computer trading casino. It is the same mistake Wall Strett lpeple made, and are still making (too STUPID to ever "learn" a single thing). It is the same tmistake that central planners make; the mistake that they can ALWAYS be right in "controlling" the economy from the top down. When they are wrong, and when I was wrong, it is DISASTE. That is what hapened to the economy, and it si what is continually happening to these computer/momentum traders on Wall Strett (even more to the people who might have once tried to "invest" rationally). Mistakes are ftal, and mistakes WILL occur (as they WILL occur in all central planning attempts to "control" the econmy).
So, be comforted. You may not really be as smart as I am,, but you have proven yourself much smarter if you have left these ocomputer gamers on Wall Street to play with themselves. Now if you are only smart enough to get rid of the politicans who keep BAILING OUT people deemed to be essential to the "system". No, this was NOT a "one-time" thing. The Feeral Reserve (Bernanke) is STiL bailing out banks and Wall Street (part of the reason the Fed has been up to its neck in the baiout of EUROPE). That is part of the reason why oil and gasoline prices are so high, not to mention food prices.
Well , I don't want to go too far afield The main pont here is that Rush Limbuahg keeps contrdicting himself on the stockmarket, as I TOLD you he would have to do in about March of 2009. NBC, of curse, is totally hopess, and I hope you never pay any attentin to them. I do listen to Rush fairly regularly, and (so lnog as you have a radar for when he is just being partisan) I actually think you SHOULD listen to Rush from time to time. If nothing else, it helps you read between the lines of the really terrible "journalists" out there, and be in a position to make up your own mind on what is really going on.
P.S. No proofreading or spell checking (bad eyesight). Oh, I do think the stock market is now in another BUBBLE (not that far from that all-time Dow high, desite the enormous risks out there). Thus, I am as much OUT of the stock market as I ever am, with most of my money (still not as much as a million sollars) in cash. Is the stock market expecting Obama to sell out the country (see previous article) and somehow stop gasoline prices from derailing this fragile ecoomy yet again.? You might think so, looking at the sotck market, but you would probably be wrong. You need to get it into your head, as Rush has not, that stock market actin is all babout COMPUTER GAMING. They don't think they have anythng to lose. Have they not been constantly BAILED OUT. So they will push the stock market up util that trade seems to be failing, and then the computers willush the stock market down. If any of this has anything to do with the real economy, it iwill be mostly an ACCIDENT.