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If You Think The Stock Market Appreciated After QE3, You Were Duped
The worse off the economy, the better off the market. As the economic numbers, post-banking collapse, signal that things are merely getting worse, as income falls and the costs of goods and services appreciate, the Fed begins flirting with the prospects of further currency debasement, putting on a show for the public as different advisors eschew different dovish and hawkish opinions, until finally Ben “To Infinity and Beyond” Bernanke steps into announce the Third Bretton Woods system of perpetual debasement.
The “Bernanke Rally” that we saw yesterday as QE3 was announced is akin to the shortlived high of veteran drug users. Lower returns on long-term Treasuries and mortgage-backed bonds are designed to herd people like cattle into a stock market that is near all-time highs -albeit illusory highs – while the real economy is a wreck with high joblessness and shattered price discovery. If you think the stock market appreciated, you were sufficiently duped, as the stock market was merely compensating for guaranteed dollar destruction …. http://silvervigilante.com
2012-09-18 09:20:41
Source: http://luismmx.blogspot.com/2012/09/if-you-think-stock-market-appreciated.html
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