“Behold, God’s dwelling is with mankind;
he will dwell with them.
They will be his people,
and he will be their God,
God-with-them.
He will wipe every tear from their eyes,
and there will no longer be death.
Neither will there be any mourning or crying or pain,
for the old order has passed away.”
Revelation 21:3-4
When the Republicans and the Democrats agree wholeheartedly about something these days hold on to your wallets.
Chris Hayes needs to cut down on his caffeine intake a bit, otherwise an excellent discussion. And of course please ignore any obnoxious commercial that precedes it.
I wanted to highlight this because it is Obama's bill. If and when it enables a new round of financial fraud his apologists may attempt to disown it.
But it originated in his Whitehouse and he will put his signature to it before it comes to law.
To say that Obama chose his economic advisors badly is an understatement.
This interview highlights the Ponzi-like, artificial nature of the current stock market rally.
It reminds me very much of the 2003-2007 bull market that ended in tears. I have included a chart of what I called at the time 'The Great Reflation' at the end.
Charles Biderman: The Problem with Rigged Markets
Friday, March 30, 2012
"Even Wile E. Coyote had to come back down to earth sooner or later", says Charles Biderman, founder of TrimTabs Investment Research. In his opinion, the prices of stocks and bonds - enabled by excessive financialization of our economy and central bank money printing - have been defying gravity for a dangerously long time.
If we continue to do all we can to preserve the status quo -- to maintain "phony" asset price levels as Charles calls them -- at best we will restrict overall growth and handicap the economy.
The problem isn't so much the unfairness and malinvestment evident in a rigged market. As Charles shrewdly asks: what happens when the market becomes un-rigged?
We've never experienced the unwinding of an entirely manipulated financial system, so we can't predict for sure. But at this point, a painful collapse of our markets and loss of the US dollar as the world's reserve currency seem entirely plausible...
Let us pray for those whose hearts are hardened against His grace and loving kindness by greed, fear, and pride, and the seductive illusion and crushing isolation of evil.
We pray that we all may experience the three great gifts of our Lord's suffering and triumph: repentance, forgiveness, and thankfulness. And in so doing, may we obtain abundant life, and with it the peace that surpasses all understanding.
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