Or, The Blind Leading The Blind.
Bush Confident of Market Recovery
Wednesday August 8, 8:16 pm ET By Jeannine Aversa, AP Economics Writer
President Bush Believes Stock Market Will Make a 'Soft Landing' From Recent Turbulence
WASHINGTON (AP) -- President Bush struck a reassuring tone Wednesday about recent turbulence on Wall Street, saying he believes the markets will work their way through the turmoil safely and achieve a "soft landing."
Bush, in his most extensive remarks on a gyrating stock market that has sent investors on a rollercoaster ride, expressed confidence that investors would eventually calm down. The president said he expects investors to reassess their risk and begin to focus more on the economy's fundamentals, which he said are solid and sound.
It's 5pm est. DOW -387, NASDAQ -56, S&P -44. A casual observer would have to conclude, Mr. President, that a market sear you are not. The economy's "fundamentals" are solid and sound? They're flimsy at best, and as solid as a handful of sand. The stock market has about as much chance as an egg hitting the floor of having a "soft landing". The President has spoken people...believe his lies at your own risk.
They all lie. Bernanke...he's the biggest liar of the lot. He continues to talk out of both sides of his mouth:
"...the economy seems likely to continue to expand at a moderate pace over coming quarters, supported by solid growth in employment and incomes and a robust global economy."
"Although the downside risks to growth have increased somewhat, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected."
This from the text of the Fed Statement on Tuesday (you can read it here:http://biz.yahoo.com/ap/070807/fed_text.html?.v=1 ) There's a sucker born every minute, but this blah-blah is obvious hogwash. How can the economy grow, if growth risks have increased Ben? How damn it, how?
The risk that inflation will fail to moderate? Ben, you and your cronies continual printing of US Dollars out of thin air is what's causing inflation. How can it moderate if you're growing the money supply by 13% a month? Ben! Inflation has failed to, and will continue to fail to moderate. Ben, your credibility is shot...you and the Exchange Stabilization Fund have lost control of the markets you have attempted to manipulate since 9/11. The jig is up. Gold, the Truthsayer, is knocking on your door. And Gold is going to huff and puff and blow your house of cards down. Gold is going to expose your lies, Hank Paulson's lies, and George Bush's lies. The US Economy is on the brink of total collapse, and the Three Blind Mice just go on their merry way...whistling past the graveyard.
The lemmings ran away from their Gold and Silver investments today to avoid risk...fools the lot of 'em. The savvy investor once again swooped in to buy a little "wealth protection" at sale prices. Buyers lined up at Gold's 50 day moving average, and said "thank you very much" to those that parted company with their Precious Metals that are too risky to own. Silver got whacked, just because the paper pushing Vermin of the COMEX could whack it. There are shorts in Silver absolutely desperate to get out at a price. These dips are buying opportunities. They are noise in a market to those that comprehend The Big Picture. The fundamentals for owning Gold and Silver were only strengthened once again by today's news that a French Bank suspended three hedge funds with ties to the US subprime neutron bomb.
For a closer look at where we stand at this hour, please click on the charts above.