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stock_creeper
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  • So Much for the Copper Indicator [Edit or Delete]1 comment
    Oct 25, 2011 5:47 PM
    Stocks may have ended lower , but my home went up again, so this calls for another post.

    Remember the copper indicator three weeks ago and how it was supposed to foreshadow global recession, and more specically a China crash landing? Epic fail. China posted yet ANOTHER huge GDP number. Oh and those profits and earnings from companies like CAT & MSFT keep beating estimates over and over. 
     
    No crisis on the horizon, no shoes to drop, no problems with economy.
     
    To jog your memory; here's a post by barry  ritholz about copper
    The market would bottom just 4 days later and anyone that shorted the market based on copper would have lost a fortune.  Barry,  like Denninger and Zerohedge pretend to be ahead of the curve when instead all they do is use lagging, unimportant data to form their worthless opinions and insights.
     
    The liberals and libertarians love to complain about the government being ineffectual and 'do nothing', yet the government got it right in 2008 by reacting to the financial panic with overwhelming force and expediency. Stocks have nearly doubled since march 2009 lows thanks to TARP,  low taxes, free trade, and accommodative monetary policy.
     
    It's better for congress to 'do nothing' and let the free market & the economy thrive than try to help loser homeowners, impose excessive regulation or create useless incentives for companies hire more.
     
    The stock market is laughing at these occupy losers by posting new highs everyday.
    The rich do contribute more to the economy than the poor. they pay more taxes, create jobs, spend more.. Get used to it. Increasing inequality is not only desirable from an economic growth standpoint, but also sustainable in the very long run.
     
    The valuations of Facebook, twitter, groupon have surged since the market low 3 weeks ago, but not a bubble whatsoever
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    "China posted yet ANOTHER huge GDP number." China's "numbers" are meaningless - they aren't subject to validation by either free market forces or regulatory scrutiny. They are, in short, what the "published" says they are, not anything based in reality.
    26 Oct 2011, 11:17 PM Reply Like
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