Wall Street has become a Fools Paradise?

S

SouthAmerica

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March 14, 2008

SouthAmerica: I was watching CNBC yesterday when one of their talking heads mentioned that the Dow had gone from being 240 points down, and at that point the Dow was up almost 100 point – a move to the upside of about 350 points.

Then I was checking the internet for the latest news and there was almost only bad news, regarding the US dollar, oil price had reached a new high, a large hedge fund was going busted, and so on… bad news after bad news.

The Dow is away down then the S & P company releases a reporter about the sub prime mess, and the stock market changes direction immediately.

Wall Street has become a real La La Land. Today people are not able to grasp even the obvious; that S&P was part of the sub prime mess to start with – and their credibility is as good as the credibility of the US government today.

I wonder why that people with Harvard degrees and some of the best elite schools of the country - these people can’t figure out that what comes out of the S&P today it is part of the damage control to stabilize the panic in the sub prime mess and the information probably is not worth even the paper that they used to publish the report.

What a bunch of fools we have on Wall Street today – they can’t figure out even what kind of information to use when making their market decisions.

I would not waste my time reading such a report, never mind putting my money on the line based on that kind of information.

No wonder these fools are losing billions of US dollars left and right.

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Right on!

I was thinking that these news were manufactured to "save the market"

there probably tech. analysts at the fed who "draw" something like unconfirmend bottom on snp RSI or something ike that to DUPE unsuspecting public into belief that "bottom is over"
 
The realities facing us are too catastrophic to accept. We as a nation are at a turning point in history, a watershed event.

Because of that, our denial is in overdrive and we will cling to whatever good news we deem is an end to the crisis we face.

The rate cuts of late summer, the Super SIV of early winter, the rate cuts of January, and the 200 billion recent fed move.

And now, we cling to "news" from the messengers that gave us this mess in the first place.

Ignorance can only be bliss for so long.
 
Excellent Commentary As Usual

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Excellent insight....and the bottomline truth.....

If one does not know the bottomline....then how can one move forward.....
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Fraud is a proper term for the Bush Administration....

Fraud is a term for the subprime debacle....whereby even one of the instigators .... is serving up the solution to the US public ....involving the public tax system as the bailout means....

People cannot respond....because it is too big.....too complicated...

But you can believe this....what has happened is fraud on a gigantic scale....one whose effects will be felt for many years....
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What does one do about it ?

One has to move on and make the necessary arrangements for change....

For it is change that never stops....albeit right or wrong....
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The biggest change is a complete lack of trust ....

The other biggest change is that the events that have occurred under the Bush Administration make the word justice a big joke....
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Now here comes Obama rama....whereby the change that will take place will be reflective of the heavy European tax picture....

Or either 4 more years of Bush with McCain....

Gore went for money instead....

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Wall Street has always been a fools paradise....

One has to be a fool pursuing the 5% chance of success....but this is how progress is made....

Progress is not made by playing it safe....
 
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March 15, 2008

SouthAmerica: Here is one of the latest Fairy Tales from the US Labor Department:

Welcome to La La Land….

If you believed on the latest S&P Report about the sub prime mess then here is another Fairy Tale for you.


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“Prices Held Steady in February”
By MICHAEL M. GRYNBAUM
Published: March 14, 2008
The New York Times

Consumer prices held steady in February as the cost of gasoline declined, an unexpected dose of good economic data that opens the door for more aggressive rate cuts by the Federal Reserve.

But the relief may be short-lived: oil prices soared to record levels in early March, putting more pressure on consumers’ pocketbooks as they muddle through the economic downturn.

…Still, the flat reading on the Consumer Price Index was a welcome development after several months of steadily building price pressures. Consumer prices, seasonally adjusted, were unchanged in February, and the closely watched core index, which excludes the prices of volatile food and energy products, also stayed flat.

With the economy in a significant downturn, and possibly a recession, some had feared a repeat of 1970s-style stagflation. The inflation rate was 0.4 percent in January and December, and economists had been bracing for another uptick last month.

Instead, the Labor Department report showed price declines across a broad range of consumer products, including clothing, personal computers and automobiles. The easing came despite a record-low dollar and a rise in the price of imports….

Source: http://www.nytimes.com/2008/03/14/business/14cnd-econ.html


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“Consumer price index holds steady in February”
Core prices also unchanged, but consumer sentiment sinks to 16-year low
From Tribune news services
Chicago Tribune - March 15, 2008

WASHINGTON — The Labor Department said Friday that its consumer price index was unchanged in February, surprising economists who had forecast a 0.3 percent gain.

So-called core prices, which exclude food and energy, also showed no change, the first time they didn't increase since November 2006. Economists had expected a 0.2 percent advance. A separate report showed consumer sentiment this month sank to a 16-year low.

The price report "comes as a relief, but one month doesn't make a trend," said Mickey Levy, chief economist at Bank of America Corp. in New York. "I do expect the Fed to ease very aggressively. It's clearly a crisis situation in financial markets and a slumping economy."

Traders added to bets that the Federal Reserve will reduce its benchmark interest rate by three-quarters of a percentage point, to 2.25 percent, when policymakers meet Tuesday. The odds of a full percentage-point cut jumped to 40 percent from zero on Thursday….

Source: http://www.chicagotribune.com/business/chi-sat-consumer-price-index-mar15,0,6863226.story

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