It's been a few weeks since my last post.
It's Friday and I'm sitting here in complete and utter dismay at how our government representatives, economists and pundits at large continue to want us to believe that the economic recovery has already begun. The recession is officially over. What planet are they living on?
Perhaps what they mean is that the first wave of economic disaster has past. I wonder why they aren't warning us now about the impending second wave. I believe that we've been sitting in the eye of the storm for the past 6 months and that the worst is yet to come but what do I know?
In fact, I know enough to tell you that the market for equities is completely out of control reflecting what I've been saying for months now that it's all being manipulated by a few for their own personal massive gains. Then, when they're ready to take their profits, they will implode the markets and we'll see a drop to 6500 in the Dow.
This is unavoidable as the US economy is going nowhere fast. People continue to lose their jobs, companies continue to lay off workers in huge numbers, unemployed citizens are running out of wage insurance, homeowners continue to lose their homes and consumers are still not spending money in any significant measure. So why is the stock market shooting up like this was 2007? Because it's about to crash again.
Wall Street puppet masters are having a field day and soon, it will be at our expense once again. Nothing that broke last year has been fixed yet investors are returning to equities as if stocks were on solid ground. Wrong. Earlier this week, Mosaic announced a 91% drop in net earnings along with a substantial drop in overall revenues but that didn't stop their stock from gaining over 3% that day. Is the world out of control or is it just me. When I was growing up, when a company reported a 91% decline in earnings, the value of their stock tanked. Today, that;s considered good news on the Street. It's an insane world and I for one can't wait to see it all go to hell in a hand basket. Once that happens, perhaps wew can rebuild the financial world differently and create some semblance of sanity within it...
What do you think?