HK wrote:
Frogwatch wrote:
On Feb 10, 2:36 pm, Keith Nuttle wrote:
Canuck57 wrote:
"HK" wrote in message
...
Frogwatch wrote:
The market reacts to the Porkulus bill, down 283 as Wall St realizes
this spending will cause huge problems without producing any
stimulus.
"Wall Street realizes..."?
"Wall Street" is deaf, dumb, and blind, and is totally disconnected
from
any sort of reality.
If you "believe" in Wall Street, you are a fool's fool.
Funny, in 30+ years of investing I have never seen the market wrong on
economic futures for more than a few minutes. On daily, weekly,
monthly it
has a 100% track record in predicting economic outlook in advance
of. It
knew in June, July, August, Sept to the October fall. October in
fact was
caused by September when government funded itself exclusively on money
creation!
Wall Street is 100% more accurate than government. In fact the debt
crisis
started 2 1/2 years ago and the government did NOTHING! But the
markets
knew.
You are right with a twist though. Wall Street and the market is deaf,
dumb, and blind to politicial BS. The politicians can talk all they
want,
promise all they want, bailout their buddies all they want, it isn't
going
to even going to mater. The makrket only sees and listens to real no BS
results.
I assume that this explains why as today when obama talks the market is
stimulated and looses significant. 2:36pm 370 points and still falling.

Quite a stimulus, down 400 as of 2:55 pm EST



Stocks have been grossly overvalued for years. Now they are down closer
to where they belong. There's only so far a corporation can go with
fraudulent bookkeeping.

In 1986 when the stock market was running about 1000, I heard an
accountant I worked with said the same thing. He gave me all kinds of
reasons that the market would not go above 1000. Five years later the
market was at 2500. 10 years later it was at 12000.

While what you say is probably valid if the currency is tied to
something like gold, but when the currencies float against each other it
becomes invalid.

"Keith Nuttle" wrote in message
...

HK wrote:

Stocks have been grossly overvalued for years. Now they are down closer
to where they belong. There's only so far a corporation can go with
fraudulent bookkeeping.



In 1986 when the stock market was running about 1000, I heard an
accountant I worked with said the same thing. He gave me all kinds of
reasons that the market would not go above 1000. Five years later the
market was at 2500. 10 years later it was at 12000.

While what you say is probably valid if the currency is tied to something
like gold, but when the currencies float against each other it becomes
invalid.



Very good point.

Eisboch