"Stocks Surge on Greenspan's Comments"...f'ing incredible!

[Career Prole]

NEW YORK (AP) -- Investors encouraged by a bullish outlook from Federal Reserve Chairman Alan Greenspan sent stocks sharply higher Tuesday, relieved by his continued belief that the economy would not slip into a recession.

<snip>

Wall Street had been worried that economic slowdown would accelerate, given a recent spate of mixed economic news, and had been looking to Greenspan and the Fed for reassurance.

http://www.nytimes.com/aponline/business/AP-Wall-Street.html


Now I'm not sure whose body part has more impact on this whacked out country's collective consciousness...Dig Dawg's penis or Alan Greenspan's larynx.

Frankly, the irrationality worries me.

[The_Casual_Observer]

1. It goes up 100 today on "good news" and down 100 tomorrow

on "bad news". Frankly, the GM news is bad news that will stick in the long run, not this bs prognostication from that old idiot greenspin.

[rkc3]

8. Not bad news - just profit-taking.

[rkc3]

13. Looks like the profit-taking started 3 hours earlier than I expected.

[Jacobin]

2. Well, the 25,000 to be laid off at GM

prolly makes the corporatacracy very happy. 25,000 fewer middle americans with health care and pensions to worry about gloming off the profits of an Murkin industry.

(I'm serious, actually)

[Roland99]

6. Oh, that lay off will still be costly.

Those people still make a decent amount of money for a while plus benefits.

[Career Prole]

10. I know you're serious.

Nothing would please them more to have the whole damned workforce forced out of their traditional careers and forced into part-time work without bennies, because they'll show up as "employed" for their unemployment numbers and the Market will respond with a loud "Huzzah!"

They've got no eye on the "long run" at all.

[joeljkp]

3. This is news?

"Greenspan says something good, stock market increases"

How is this news?

[Career Prole]

5. That's precisely why I put it in GD and not LBN, joeljkp.

And welcome to DU! :toast: :hi:

[BurtWorm]

4. Baa-aa-aa-aa-aa!

:eyes:

[bpilgrim]

7. we have FLATLINED since the neoCONs TOOK control

http://images.GlobalFreePress.com

peace

[donkeyotay]

9. Smoke. Mirrors. Hedgefunds.

The market could be a giant Bernanke put. We'd never know. I think they structured credibility, too.

[Stinky The Clown]

11. The stock market has been in the same fucking narrow range for all of the

idiot son's years in office. Make a buck-lose a buck.

Pointless rant follows:

Back in the day, the market was a gambling house for the wealthy. Then the Great Depression and regulation. For a time it was clean and honest and real value was traded. In the 80's greed set in. By the 90's it was all smoke and mirrors. Today it is getting closer to the pre-Depression days, but with new .... uh .... 'financial instruments' that hedge the investments of the little guy against the interests of the big institutional guys and the rich.

In the end, the little guy's gunna get his financial ass handed to him.

Look at your own IRA ...... it took a hit when idiot son came to office. In some cases, that was a HUGE hit ... 75%, maybe, in some cases. A smaller hit in other cases, depending on how you were invested. Then it leveled off and has now hung there, flat as a pancake. Up 2% ... down 3% ..... up 4% .... down 2% .... those small movements don't mean shit to you. But they earn HUGE bux for the big guys.

We're being had, but by keeping the market flat, we're feeling safe .... not rich(er) ... but safe. And more importantly (for *them*), in a state of hopeful complacency.

And Greenspan is at the head of this effort to deceive. Always was and always will be. He's far more a Ponzi than a Svengali.

We "little guys" are FUCKING PATSIES. We're being scammed and we're happy to do it.

You want to invest .... invest in yourself. Invest in your kids. Invest in tangibles (like real estate, **if** you know what you're doing).

A word about the real estate bubble ...... there isn't one. There are, to be sure, overheated markets. But real property always has intrinsic, real value. Even in the SoCal and Oil Patch housing debacles, only the overextended got permanently burned. If you invest in real property and tangibles, you'll do fine. Just don't overextend (100% value, interest-only mortgages are BAD BAD BAD ..... you're just paying down the value before the bank finally owns your house. ARMs and other 'creative' financing for houses is BAD BAD BAD.)

[Career Prole]

12. Not a pointless rant at all!

There should be much more ranting than we've seen, IMO! :thumbsup: