But they understand what financial products and manipulation mean…. (and I LIKE Marketwatch)
Surprise! You’re richer now than in 2007
Commentary: Most individual stocks are above Oct. 2007 levels
Forget all those mid-year scorecards that tell us how stocks have done over the last six months.
The far more important investment scorecard shows where we are today relative to the Oct. 9, 2007, stock market high.
The relatively strong showing of non-large-cap stocks is one of the contributing factors for why a majority of investment newsletter portfolios are ahead of where they stood 3-1/2 years ago.
Wall St is in outer space, coasting their way past YOUR ANUS.
What they think about and perceive is so far removed from the granular reality of every day life that they have ALL lost total hold of the rope. They believe themselves and each other when they talk of the economy. They see nothing wrong, like Geithner when they speak of the danger of lack of revenue, and it MIGHT MEAN SMALLER GOVT (OH NO, MR BILL).
THIS IS REALITY:
THIS IS REALITY:
Better stock prices ARE NOT THE ECONOMY NOR A MEASURE OF WEALTH EXCEPT TO PEOPLE FOR WHOM THE REAL ECONOMY NO LONGER MATTERS.
THE POLITICAL CLASSES.
1 comment:
Viewing the US dollar prices then versus the US dollar prices now is about as futile as the Zimbabwean shouting "I'm a Billionaire". Viewing it against something stable like the Swiss franc gives you a far clearer picture though to anyone with sense it won't be clear, it'll be misty behind a curtain of tears. Look at it: Swiss franc Oct 07 85¢ Today $1.18. It has gone up 39% they will tell you. Bullshit! The dollar has gone down. The reasons the stock market looks healthy are twofold, the depreciating dollar and the almost zero interest rates. Historically interest rates are about 4-6%, when you can not even get that return you put your money elsewhere, in this case the only place left is the stock market.
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