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The Confounding Markets…..

Courtesy of RobotTrader

Yet another week where stocks defy fundamentals, Wells Fargo running wild, furniture stocks like ETH hitting new 52-week highs. Looks like another resumption of “Dash for Trash” in the making.  Perhaps the “Affliction” flatbillers will re-emerge at Starbucks to daytrade single digit midgets.

Markets are now reaching the “Do or Die” point.

Pass or fail??

And the top performing sector is retail?  Less than 10% off all-time, world record highs??

Unfortunately I’m still in lockdown mode in a conference room for the next couple of weeks, so today I’ll let my buddy Rasputin do the talking…

Rasputin – Tue, Mar 2, 2010 – 08:25 AM

“It was one year ago that Citi and BofA were collapsing and stock markets were careening off of a cliff.

It was a scant year and one-half ago, in September, 2008, that Fannie, Freddie, FHLBs, Lehman, AIG, and virtually every single Wall Street gambler imploded.

It was two years ago that Bear Stearns went down in flames.

And ten years ago that the Internet/telecom/Enron immolation took place.

Twelve years ago when Russia defaulted, setting off the LTCM neutron bomb.

Thirteen years ago when the “Asian Crisis” was gonna scroom us all.

It was twenty years ago that almost every S&L went belly-up.

Twenty-three years ago that the Dow collapsed TWENTY-SOMETHING PERCENT IN ONE DAY!

Thirty years ago when Chrysler went bankrupt and required a then-unprecedented one billion fiatsco bailout.

It was also thirty years ago when Uncle Gorilla first hit the trillion-fiatsco debt mark.

Finally, it was nearly forty years ago that Nixon took the world off of the last vestiges of a gold standard.

(Ras Conclusion): Despite these myriad, horrid, ‘convulsions”, the world has skipped along on its merry way, the sheeple continue to borrow and spend, the U.S. hasn’t collapsed, stock markets arw being re-skied, Uncle is running up tens of trillions of debt, interest rates are at near-historical lows and bears/GHSers/SHSers (gold and silver bugs) have once again been left behind as the “Infinite Fiatsco Parade” marches inexorably forward.

Roach, Fekete, Gross, the Comstock boys…this massive missive quotes every perma-gloomer this side of Mogambo Guru and goes into deep detail regarding:

“This can’t go on!”

…yet go on it does, day-after-week-after-month-after-year-after-decade, no matter how large or frequent the “convulsions”.

Believe me, I know. Having embarassed myself in front of my Boomer peers with numerous screechings of:

“This it!”

“This can’t go on even one more minute”

“Stocks are gonna continue to crash”

“The U.S. fiatsco is finished!”

“Interest rates to da moon!”

…and other, incorrect, dire warnings, I have finally learned to stop worrying and love Infinite Fiat/Wash, Rinse, Repeat cycles.

In any event, the U.S. is having a heck of a time killing the U.S. nightcrawler because the euro is beating it in “the race to the bottom” and China has pegged their yuan to ours.

Nothing changes. Same criminals in charge. Same corrupt system.

LOL.

(Update): Just to show you how bogus and corrupt this so-called “recovery” really is, have a gander at these Federal Reserve charts provided by Mish:

http://globaleconomicanalysis.blogspot.com/2010/03/im-sure-glad-recession-ended.html

(Ras): Do any one of those categories even remotely resemble an economic recovery?

Heh, I rest my case.”


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