Dow 15,000 By Year Ben
Submitted by Barry Ferguson on Sat, 8 Jan 2011
Uh… I mean year end
And….., we’re off! The New Year is off and running and the Federal Reserve is busier than ever. The first day of the new trading year started off with a bang. The Dow bolted up some 100 points as the trading continued from the ferocious last 15-minutes of the last day of trading on New Year’s Eve that I documented in my last post, Does New Year Change Anything? The rest of the week turned a bit more pessimistic as Friday was looking downright ugly until one o’clock. What happened at one o’clock? Oh yeah – the great Bernanke finished up his meeting of the Village Idiots (he testified before the bozos we call ‘Congress’) and got back to his real job, juicing the stock markets. If there is anybody that still thinks we really have ‘stock markets’ anymore, you should go read a book or something. All we have is Bernanke and his printing press.
Of course, the Fed is trying desperately to spin an economic recovery so they don’t look so stupid in all their efforts to save the big banks from the oblivion of their ineptitude and stupidity. And, the Federal Reserve was shoulder to shoulder with the lenders of lunacy egging on the derivatives and credit default swaps that drowned the world in debt. Yes, all the rest of us have to pay for the banksters’ folly but this is the new era. Greetings, fellow suckers! The US just passed the $14 trillion mark in the national debt.