Gerald Celente, Their [sic] is NO Economic Recovery, It's A COVERUP

market oracle ^ | 10/21/09 | market oracle

[RobRoy]

I paid him $300 for the calf and the feed. Most of what he eats is from our own bales off our property, but you gotta fatten ‘em up on grain towards the end.

[netmilsmom]

That’s fantastic!!!!!!!!

[RobRoy]

Why do you think I did this deal? ;)

[netmilsmom]

XD

You be a smart cookie!

[andy58-in-nh]

The stock market is up because it is presently pumped full of phony government fiat currency, driven by monstrous banks (CITI, BAC) that still have billions of dollars of worthless garbage for assets, backed up by near-zero-interest loans from the US government, which instead of lending out themselves, they are leveraging into equities to generate daily commissions for the big brokerage houses. In turn, stock prices have been bid up to absurd levels (P/E over 160) amidst the illusion of liquidity.

At the same time, there are zero, none, NADA private sector jobs being created outside of the make-work union gubmint variety. Private credit demand is not merely declining - it is crashing, while huge numbers of commercial and residential ARM's are about to reset - at much higher rates. Good luck with that. If you really think our economy is about to improve, you're in for a deep shock: it's not even close to hitting bottom.

Do yourself a favor - don't listen to stock-pumpers like Cramer - he's selling product, not reality. The only thing propping up the last table leg right now are artificially low interest rates and an (also) intentionally suppressed US dollar. The Fed can't keep it up forever. When short term-rates creep back up and the dollar rises: look out - the whole house of cards comes down. "Extend and pretend" only works for so long. America won't recover fully until we get back to having sound money, transparent business practices, low corporate taxes and fair trade practices.

[Slip18]

We are rooting for you, Laz!

In the commodities markets, if there’s a seller, there’s a buyer. If you have a hog farm, you hedge your buy/sell for corn. Just don’t sell the cow for a couple of pea seeds. Giants are mean by nature, and I don’t believe for a moment that chickens lay golden eggs.