Neither bulls nor bears had a very satisfying day, stocks having spent the entire session screwing the pooch. Despite this, I remain mildly optimistic that the stock market is near the point of collapse. So why should this be cause for optimism? Well, if the Dow were to be cut in half, it would crush the banksters, the money managers and all of the other money-grubbing evildoers of the financial world, setting the stage for the revival of honest business. Imagine that! Youíd have to have grown up in the Fifties to remember such a time, when millionaires worked, rather than schemed, for their bread. Since then, the paper-shufflers have made a fine art of pursuing easy, undeserved success, raking in seven- and eight-figure bonuses just for pumping up stocks with digital cash that has come nearly free and without strings from the Federal Reserve. This Ponzi game has come to look more and more like a perpetual motion machine, with rising stock prices boosting CEO salaries, turning paper stock-options into gold and incentivizing share buybacks that have added economically meaningless trillions to the stock marketís valuation. What could cause this seemingly virtuous, self-perpetuating cycle to end? No one knows. However, end it will, and badly. If you donít subscribe,click herefor two weeks' free access to Rick's Picks, including daily, actionable 'touts', round-the-clock updates, impromptu tech analysis sessions online, and a chat room that draws experienced traders from around the world at all hours of the day and night.
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com,
is strictly prohibited. In no event shall GoldSeek.com or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.