Tuesday, October 20, 2009

The Naked Truth

Stocks on Wall Street Fall After Mixed Economic Data, Earnings- AP
A report on housing starts is making investors nervous that the economy will be slower to recover even as companies post stronger-than-expected profits.

I'm not even going to quote from the report. This is posted as it was copied exactly from Yahoo/Finance Headlines this afternoon.

Investors are nervous? Seriously? Stronger-than-expected profits? Bullshit? Profits are NOT up because of top line sales growth. Profits are up ONLY because of cost cutting...as in job cutting. Continued job cutting guarantees a "slow recovery" if there even ever is one. Despite all the wishful thinking spewed by the financial media, the housing market has not bottomed, and won't be anytime soon.

Bottom line: Dollar up, equities down. Dollar down, equities up. The [suspect] financial data unloaded on investors everyday is a smokescreen used to make cover for the crumbling us Dollar.

Wall Street's Naked Swindle
By Matt Taibbi, Rolling Stone
"To the rest of the world, the brazenness of the theft ˜ coupled with the conspicuousness of the government's inaction ˜ clearly demonstrates that the American capital markets are a crime in progress. To those of us who actually live here, however, the news is even worse. We're in a place we haven't been since the Depression: Our economy is so completely f--ked, [that] the rich are running out of things to steal."

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