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And The Market Selloff Continues After Hours
http://www.businessinsider.com/and-t...#ixzz0otA3FLmfQuote:
Apparently the final several minutes of the day wasn't a long enough period to get in all the selling folks wanted to do.
As you can see, the new bear market continues after hours.
For a wrapup of what happened during the US trading day, see here.
http://static.businessinsider.com/im...0200/chart.png
Just repeating this post here for the record.
9791.56 -275.01 -2.73%
As predicted. Now let's see the PPT scramble.
I bet it closes above -30.00Quote:
Originally Posted by MNeagle
Looks like the PPT is trying to "rescue" the stock market......Down "only" 199 points according to CNN-Money.com.
uncle sam will step in and save the day ... our money at work for them
And notice how gold is steady, just under 1200. They can't let it go above that!
They need a lower market to hide price inflation of essentials (food, energy, etc) and price deflation of non-essentials.
Keeps the game going longer.
Keeps the dollar up.
It's all about capital destruction.
A lower market is a roundabout (and not-so-effective) means of devaluing the currency via velocity in the bond market and a means of revaluing real goods and services.
Moreover, it's capital destruction from a low- and no-interest rate policy.
This is where the monetarists got it wrong. You can't inflate that which is exhausted. See Hypertiger for further details.
The bond market feasts due to a lack of risk (QE, bailouts, etc), while commodities and equities suffer, due to greater risk.
But the bond market is still part of the sinking ship.
Capital destruction is inevitable, and the current interest rate policy is exacerbating it, and that's what we're witnessing.
It's going DOWn!
How did you know? :DQuote:
Originally Posted by randymatt
Nicely done, Carbon. -22.82Quote:
Originally Posted by Carbon
BTW, I lied about going to the gym. I went to the beach and walked. I thought it would have the same effect. Now I know.