Just Go Shopping
Last week when I
watched the clowns of the financial news begin to jump up
and down - proclaiming that Happy Days are here again
because the stock market was going up - in fact, it was up 4
days in a row! Woo Hoo! call me crazy but I was
a little suspicious. My thinking was that the
Wall Street bubble makers were ready to start blowing again
because their propaganda partners in the media were
trumpeting - Hear Ye! Hear Ye! All you suckers
draw near. There are golden bytes to be found in the
NYSE/Nasdaq computers and we can help you find them!
This morning my suspicions were confirmed as I watched C-Span, Washington Journal. The main subject of the day is financial news. Newsweek has an article saying things are looking up - all we need now is just for people to go shopping. Wall Street Journal Reporter Bob Davis was on to talk about his articles - one of which was about the U.S. and U.K. plans for trade financing that kind of sounds like the U.S. is participating in a loan program to itself - along with money from the G20 countries who are now our bankers it would seem.
Then the subject of Cramer vs Stewart came up. Ah Ha! Now we know what that was all about and I really hope that Jon Stewart wasn't a knowing participant in what is going to be an attempt to launder the image of the financial news. What that little 'made for TV' spat was about was so that the financial news could be beaten up - exposing the dishonesty of the past... but gosh, Cramer is such a great guy... just a Joe Six-Pack who got lucky but did a few bad things.. and now has received his comeuppance for it. I have no doubt that in the next week, the management of the financial news will have an airing of their past indiscretions, they will be contrite and apologetic just as Cramer was and now we can trust them again because they've all seen the light.
I had already started to write this commentary when a caller - at 9:26 am eastern time, called and said exactly what I wanted to say in this commentary - Heads Up people, this is just another pump and dump scheme that's starting and if you believe anything they are saying, you'll lose because it's a rigged game and you are the mark.
The reason I was going to write that same thing was because I had just looked up which stocks were allegedly driving the market upward. According to MSN Money: "Health care leads the market". The following is the leader above the article:
What we are being told about the Health IT system is that it will save money and lower costs - AFTER the initial investment in IT Systems for health care providers. Lower costs means lower profits - so why would the market suddenly start moving up on Health Care with tech stocks staying flat? This doesn't compute (no pun intended) since Health IT is TECH not Health.
There's something rotten in the cotton - and the little morality play we were treated to last week is not going to make it smell any better. Nothing is going to make it better until the International Money Cartel is broken up, the thieves on Wall Street and their co-conspirators are prosecuted.