SOME OF THE MORNING AFTER YADA...IS ABOUT THE TECHNICAL ASPECTS OF THE MASSIVE (BUT FAKE) RALLY YESTERDAY...
MANY OF THESE PEOPLE ARE USING HISTORICAL DATA TO SUPPORT THEIR CONCLUSIONS...
HERE'S THE PROBLEM:
WE HAVE NEVER HAD A MARKET THAT WAS SO "THEATRICAL" BEFORE... AND SO OBVIOUSLY MANIPULATED. OR THAT WAS ON SUCH SHAKY GROUND FROM A MACRO POINT OF VIEW...
THE AMERICAN ECONOMY NEVER NEEDED THIS KIND OF GROSS MANIPULATION...PRIOR TO THE ADVENT OF THE IMPERIAL PRESIDENCY...AND OUR CURRENT "AGE OF BUBBLES."
AND REMEMBER THE WIEMAR REPUBLIC...AND MOST OTHER "AGES OF BUBBLES" WERE STUCK WITH THE GOLD STANDARD...AND BANKING WAS STILL DONE BY SERIOUS MEN WITH GREEN EYE SHADES....
NOT AS TODAY WITH ROCK STAR COMMENTATORS...AND CELEBRITY CENTRAL BANKERS...
TODAY'S MARKETS ARE 90% THEATER...AND 10% REALITY...
THAT IS THE ESSENCE OF MY COMPLAINT...
NOW MARKET MANIPULATION IS NOT NEW...CROOKS USED TO DO IT ALL THE TIME IN THE OLD DAYS...
LARGE SCALE MANIPULATION OF THE KIND WE ARE SEEING TODAY HAS NEVER BEEN TRIED SINCE PERHAPS THE FRENCH GOVERNMENT GOT INVOLVED WITH JOHN LAW...AND THE SOUTH SEAS BUBBLES!
WHEN GOVERNMENTS GET INTO TROUBLE THEY WILL MANIPULATE THEIR MARKETS... THIS HAS BEEN TRUE FROM ROMAN TIMES...THROUGH THE MIDDLE AGES AND INTO THE GREAT BUBBLES OF THE 1720'S....
AND TO THE CURRENT DEBACLE IN THE AMERICAN ECONOMY...
AND I SUSPECT THE DISMAL HISTORICAL OUTCOMES WILL BE THE SAME IN ALL CASES...
