I turned on the television this morning and saw a 250 point stock market rally. As I did that, I had to listen to a Government Motors ad about the Chevy Volt. How odd. The GE/Jeffrey Immelt influenced CNBC network running ads for Obama's pet project, GM and that crappy 45k Volt. Immelt is Obama's business czar. It's all incest to me.
Before making coffee, I turned the television off.
I traded for 25 years. I miss not having some skin in the game. But like millions of investors, my money is sitting in the bank making nothing. Why?
Because I can't afford to lose it in a sick stock market almost completely manipulated by central bankers. The big banks are just sitting like vultures, they own everything in sight, waiting for people to get back in so they can get out. You can't go long because there is no upside- this market would completely collapse if left on it's own. You can't short this market because the central bankers constantly threaten more quantitative easing which means more money flowing into the market.
Here's a snip on this morning's rally. This comes from the European Central Bank. This is Mario Draghi- Ben Bernanke's bed partner- threatening to do whatever it takes to "save the euro."
European Central Bank President Mario Draghi
says policymakers will do what’s needed to keep the union’s common
currency. The remarks signal that they may step into bond markets where
prohibitively high borrowing costs threaten Spain and Italy.
“To the extent that the size of these sovereign premia hamper the
functioning of the monetary policy transmission channel, they come
within our mandate,” Draghi said in a speech in London today, according to Bloomberg. “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro…believe me, it will be enough.”
Ben Bernanke is bad enough. Now we have this dick wad running his mouth about a European style QE. Of course these comments caused everyone that is short the Euro and Euro stocks- to cover. Hence the big rally.
Unemployment claims dropped a little this morning but they are still pretty bad.
So the whole world is broke. Markets and economies are broken. Rather than take their medicine- these bastard bankers have control of our currencies and they just threaten to print more. The net effect of course is inflated markets. The vast majority of people don't understand any of this nor do they care. When they lose their retirement funds- which they will- then all hell is going to break loose.
The only way I could come into this market is on the short side. But you can't. Because Bernanke is sitting chilly at the printer controls. With President One Term just about outta here- I don't see Ben doing anything to help. (As a sidenote- I can't wait to see all of the fucking criminals that Obama pardons on his way out.)
So that's it. Until the world and the bankers take their medicine, free markets responding to market forces simply do not exist. You can't play in a rigged game- even if it's the only game in town.