NOT SINCE THE HEIGHT OF THE DOTCOM BUBBLE HAS WALL STREET BEEN IN SUCH A FANTASYLAND...
WHAT IS AMAZING IS THAT STOCK PRICES ARE SOARING TO RECORD HIGHS ...EVEN AS THE GENERAL DEPRESSION ON MAIN STREET DEEPENS...
THE NOTION SEEMS TO BE...THAT THE WORLD ECONOMIC DEMAND WILL "JUSTIFY" THE STOCK PRICES...EVEN AS AMERICANS ROT INTO OBLIVION...!
WHAT THEY MISS IS THAT ASIA IS BOOMING BECAUSE ITS SELLING THINGS TO THE US CONSUMER...! NOT BECAUSE LOW WAGE WORKERS IN ASIA ARE BUYING THINGS...
THEY COULD BE RIGHT...IT COULD BE "DIFFERENT THIS TIME"...
BUT I DOUBT IT...
SELL NOW IF YOU HAVE PROFITS IN ANYTHING... THIS IS A MANAGED MARKET THAT IS REACHING A POINT OF ABSURDITY...
WALL STREET CAN STILL ABSURD FOR A LONG TIME...BUT WITH FEWER PLAYERS AS THE SMART MONEY EXITS...ONLY THE SUCKERS WILL BE LEFT HOLDING THE BAG SOON...
YET AGAIN...!
WHAT IS AMAZING IS THAT STOCK PRICES ARE SOARING TO RECORD HIGHS ...EVEN AS THE GENERAL DEPRESSION ON MAIN STREET DEEPENS...
THE NOTION SEEMS TO BE...THAT THE WORLD ECONOMIC DEMAND WILL "JUSTIFY" THE STOCK PRICES...EVEN AS AMERICANS ROT INTO OBLIVION...!
WHAT THEY MISS IS THAT ASIA IS BOOMING BECAUSE ITS SELLING THINGS TO THE US CONSUMER...! NOT BECAUSE LOW WAGE WORKERS IN ASIA ARE BUYING THINGS...
THEY COULD BE RIGHT...IT COULD BE "DIFFERENT THIS TIME"...
BUT I DOUBT IT...
SELL NOW IF YOU HAVE PROFITS IN ANYTHING... THIS IS A MANAGED MARKET THAT IS REACHING A POINT OF ABSURDITY...
WALL STREET CAN STILL ABSURD FOR A LONG TIME...BUT WITH FEWER PLAYERS AS THE SMART MONEY EXITS...ONLY THE SUCKERS WILL BE LEFT HOLDING THE BAG SOON...
YET AGAIN...!
