Wow, I didn't realize this thread was about daily flucuations in the Dow.





You doomers read even worse than I thought you did.

Never say never.  The next President won't most likely.  But there are a number of young people that are relearning about the Austrian school and will be in positions of power over the next generation.




 

Dont listen to Paul Volcker about his perception of the Austrian School.  Listen, and read, from the Austrians.  



The fact that Austrians view a central bank as a tenet of socialism, a goal of socialism, and enabling the central planning of the economy...

I didn't post that vid for Volcker.  I posted it for the young man at the beginning.

What the hell do the Australians know about economics? Hell, even their animals are fvcked up. Who designed a kangaroo anyway? "I think I'll make something with a pouch and thighs that would shame the wookie"

As for the collapse, it could happen sooner, or it could happen later, but it will happen. Maybe later today. I think I will eat an extra-large breakfast just in case...

our economy is resilient, much more then I've expected. I can say though, that we're not there yet. I'm currently waiting for entitlement programs at current pace to outstrip world GDP. Sometime between now and then, we will have bad days.  My worry is that if entitlement programs are cut, that cities will burn.

http://news.yahoo.com/u-close-faltering-fed-ready-act-bernanke-065154564.html

Say hello to more quatitative easing.


U.S. "close to faltering," Fed ready to act: Bernanke



By Pedro da Costa and Mark Felsenthal | Reuters – 3 hrs ago



WASHINGTON (Reuters) - The Federal Reserve is prepared to take further steps to help an economy that is "close to faltering," Fed chairman Ben Bernanke said on Tuesday in his bleakest assessment yet of the fragile U.S. recovery.
Citing anemic employment, depressed confidence, and financial risks from Europe, Bernanke urged lawmakers not to cut spending too quickly in the short term even as they grapple with trimming the long-run budget deficit.
He made clear that the U.S. central bank's policy committee considers inflationary pressures well under control and given high unemployment, would be ready to ease monetary conditions further following the launch of a new stimulus measure in September.

It is collapsing right now.  

+1

Europe is having a bad week.

Remember, it's a global economy...

There is no escape.

Bullish.





Last night I had a thought.





You know how when a little kid trips and falls and looks around to see if anyone is paying attention before it starts crying?





Well, now that markets have gotten a taste of bail outs and stimulus, they like the attention of "adults" rushing over to coddle and care for them.





Politicians can't even stand the thought of a correction back to natural levels without injecting more stimulus.





Every time the market trips and falls and it's going to look around for uncle Ben to come make it all better, and if they know uncle Ben is watching they will scream and wail until they get the attention they desire.



It's amazing how big of a step giving tax payer money to private institutions was, and how little resistance it actually met. Make me whole or I'll bring you all down with me?
In other news, all commodities are taking a beating as people cash out. This market is insane. Even false rumors from Europe move the market by hundreds of points.





World isn't ending but it's not getting more stable that's for damn sure.





 

That is one of the new paradigms that leads me to believe that the financial system has already collapsed and has been incrementally replaced with a new system wherein not only is debt nationalized, but also all investment risk.

This is no longer capitalism.

Read that line again, folks.

Let's not confuse capitalism with free market.  There is no free market since the tampering is rampant.  The President's Working Group Plunge Protection Team is only one of the parties engaged in price fixing.