OH FUCK. Like we don't know down here on the street that what happens in Wall Street IS NOT THE FRIGGIN’ ECONOMY, YOU GODDAMN MORONS.
THIS IS THE ECONOMY:
THIS IS THE ECONOMY
THIS IS THE ECONOMY
CNBC:
Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.
“What we’ve got right now is almost near panic going on with money managers and people who are responsible for money,” he said. “They can not find a yield and you just don’t want to be putting your money into commodities or things that are punts that might work out or they might not depending on what happens with the economy.
“We need to find real yield and real returns on these assets. You see bad data, you see Treasurys rally, you see all bonds and all fixed-income rally and then the people who are betting against the U.S. economy start getting bearish on stocks. That’s a huge mistake.”
Stocks extended losses after the manufacturing fell below expectationsin May and the private sector added only 38,000 jobs during the month.
“Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything,” Yastrow said. “We’re on the verge of a great, great depression. The [Federal Reserve] knows it.
THERE IS NO MYSTERY HERE.
Beginning in the 1970’s we shipped too many of our manufacturing jobs to cheap labor wherever that was without regard for long range (TOTALLY PREDICTABLE) consequences. We then made it possible for increasing land values to be xlated to cash to buy goodies from wherever cheap labor was until the banks realized if they could just get more people able to buy more homes real estate values would fuel even higher speculative cycles as values increased out the range of labor value + materials value.
THERE IS NO SECRET.
WSJ - The job making machine is GONE!
Now add in inflation and fuel costs and SKYROCKETING FUEL COSTS.
Any hope or confidence out there?
WHY?
Dow tumbles 200 points…
Private Sector Jobs Grew By Only 38,000 in May…
Planned Layoffs Up…
Manufacturing Slows…
Stock values, bond yields, derivative estimates of bear and bull ARE BULL.
Value is the product of ingenuity, hard work, labor value and material value sold at a competitive price.
That’s all there is.
There is nothing more.
Someone get my goddamn rail ready, you get the feathers.
We have a lot of candidates to ride.
- Dollar Weakens on U.S. Economy Concern; Corn, Sugar Advance (businessweek.com)
- Treasuries Snap Rally on Concern Demand Will Wane at Debt Sales (businessweek.com)
- U.S. housing double-dip (business.financialpost.com)
5 comments:
I saw this coming the day they allowed cheap imports on the market.
Feeling it here. Rapidly closing on the "99 weeks".
This is depressing.
Epa,
There is another very interesting pull quote in this article:
"The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer."
GOING GALT?
In the five months of this year alone more banks (44) have gone bust than in the entire two terms of Bush's presidency. When was the last time you opened a paper and read about a
bank failure? In the last year even the South African Rand, the Pakistani Rupee and the bankrupt Icelandic Krone have gone up against the dollar.
Every cloud has a silver lining. Should anyone ever recite these facts to you, you can always say : "Look at the Dong". The Vietnamese is one of the very few currencies that have fallen against the dollar.
IF I say look at the dong, I am probably getting punched out or arrested
Post a Comment