The NEW US (World) Economy - Truly A Joke - by David Spurr
The US economy has officially involved into a farce. It’s a joke. It’s surreal. Everyday CNBC talks about endless bailouts of private businesses. Banks are insolvent. There is no doubt about it. They would all have failed had it not been for the TARP money and the endless expansion of the Federal Reserve’s balance sheet. Money managers try to define rational suggestions for asset values. The chatter continues. Bottoms are called. Bottoms are broken. Markets gyrate each day, but make no real forward progress. The days of BUY and HOLD are dead on arrival. You can no longer survive in the “New US Economy” unless you have a trader’s mentality.
The government is now so deeply involved in the calculation of asset values, that the “free market” as we knew it, prior to 1987 is dead. This is now a market that is manipulated and controlled by the US Government.
Numbers printed on financial statements are about as worthwhile as toilet paper."
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