The stock market soared on news that the government was going to magically inject nearly $200 billion into the market and also magically make bad loans disappear. It reminds me of this article: Zimbabwe: Best Performing Stock Market in 2007.
Source link: http://blog.mises.org/8547/markets-soars/
Markets Soars!
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True. So true. The funny thing is, the average person will not get this. Especially the average investor.
Options expiry tomorrow. Don’t forget the renewed zero tolerance policy for naked shorts. I saw a lot of short covering buying today in all sectors, especially financial.
And gold is falling again. Sigh. I’m getting a bit impatient waiting for that $1600/ounce predicted by Peter Schiff… though the sudden rise, despite the fall afterwards, at least convinced me to hold on, and don’t despair when it again falls to $700 – it seems 4-5 more banks go under and it will shoot up over $1000 again.
That’s all it is – an injection, it’s not a cure.
The problem is that the needle giving the injection is dirty and will finally kill the patient.
To follow on peter s, they are trying to fix the symptom, not the actual disease.
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