Today the bulls and their backers in various moneyed quarters were a little smarter. They gather themselves together, stabilized the market at a sustainable bottom, and then slowly and deliberately walked it up into the close.
This should give a little cheer to the rest of the world, and hopefully we will see some more stability especially in the Asian markets.
Nothing has changed, really. This is all perception and cosmetics.
Not one thing has changed. Nothing. This was only a taste of things to come if nothing really changes.
There is not an ounce of will to reform anything in New York and Washington. What we saw this week was the pigs getting frightened that they were losing control, and especially losing ready access to their personal feedbags.
The worst thing that these jokers can do now is get overconfident and greedy, and run the markets back up, trying to achieve the former high so they can get their dopey rate increase out in September or October. I would not put this past them since for the most part they are fluff and stuff, lacking all wisdom and proportion.
If they do this, and if the market falters and begins a slight downward again, the risks to the economy are unimaginable to most. But they are especially unimaginable to these myopic, puffed-up, bureaucrats at the Banks, and the indentured servants of Big Money in Washington.
Have a pleasant evening.