It's important to step back for a moment and think about what is happening in World markets today. Crude is dropping, while stocks, especially financials, are spiking in value.
When this sucker's rally is over, crude oil is going to have established a bottom, probably no lower than $120 a barrel. The Dow will leave this rally behind, almost certainly without having broken above 12,000. The fundamentals remain the same. Out of control inflation with trade and budget deficits that have never been higher. Ruinous, ongoing, multi trillion dollar, foreign wars. Mountains of bad debt. Rising unemployment and sinking real wages.
The heads of the Treasury, Federal Reserve, and SEC, as well as the POTUS have been out this week, helping the pimps over at CNBC try to paint up and sell the tired old ass of this economy to the World. If this is the best they can do, we got a cold winter comming up.
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