I CAN'T THINK OF A SINGLE NUMBER THAT CAN BE SPUN INTO A RALLY NOW...
THE PRIOR MANIPULATION OF THE DATA TO ABET THE SPECULATION WAS SO TOTAL AND COMPLETE THAT THE CURRENT SITUATION IS SIMPLY "UNSPINNABLE"...
EVERYTHING HAS BEEN TRIED TO KEEP THE BELOVED "ASSET INFLATION" ALIVE...BUT THE "BAD STUFF" IS NOW KICKING IN...
THINK OF IT AS LIKE AN OLD DRUNK OR DOPE ADDICT...WHO HAS ABUSED THEIR BODY FOR YEARS...AND SEEMINGLY GOTTEN AWAY WITH IT...
UNTIL...FINALLY THE COLLAPSE STARTS...AND IT IS BRUTAL.
HOW IS THIS DIFFERENT THAN THE "OLD DAYS"...
WELL, IN THE OLD DAYS THERE WERE SOME RESTRAINTS ON THE SPECULATION....
INDEED, IN THE OLD DAYS EVEN THE VERY WORD "SPECULATION" HELD A NEGATIVE CONNOTATION...
UNTIL RECENT AMERICAN HISTORY WHEN "THE SPECULATORS" AND WALL STREET FINANCIERS BECAME OUR NATIONAL HEROES!!
ALSO REMEMBER, THE GOLD STANDARD STILL HELD SWAY...IN THE OLD DAYS.
AND FINALLY, IN OUR ERA OF MODERN "PAPER MONEY" CENTRAL BANKING;
THE CENTRAL BANKS WERE SUPPPOSED TO STOP THE SPECULATION EARLY ON...NOT BE ITS WILLING STOOGE AND DESPERATE ENABLER...! THIS WAS CALLED: "TAKING THE PUNCHBOWL AWAY"...REMEMBER THAT OLD CHESTNUT?
THEN CAME GREENSPAN AND NOW BERNANKE...
WHEN THE JOB OF THE CENTRAL BANK BECAME TO KEEP THE PUNCHBOWL FILLED TO OVERFLOWING... INDEED, TO HAVE THE "LIQUIDITY" SLOPPING OVER ONTO THE FLOOR...!
SO INTERESTING TIMES AHEAD...
THE COLLAPSE IS UPON US...STAY NEAR THE LIFE BOATS....
EVEN THE BAND IS ABOUT TO QUIT PLAYING NOW...
