5 Billion dollars of tax payers money used to prop up a market that's at 4 year highs with unemployment at 8.2%, no housing boom, pathic jobs report, millions on food stamps, regional bank failures every month since 2008 (5 failures in March),gasoline @ 1 year highs (hyperinflation), massive GOV debts, massive student loan debts, euroland imploding, rising US dollar pushing yields higher and overpriced bubble stocks like AAPL.
forget about QE it's not going to happen at market highs
Bearsnakey will have to justify such a move and he can't. He also knows gold, oil and gasoline will all go to the moon and that will just kill retail spending and jackup food prices even higher. Gasoline rose 90 cents from DOW 12000 to DOW 13000. Can you image gasoline 90 cents higher from where it is now? not me, I'm already paying 5 bucks and i don't like it. When $GASO hit $3.40 at the start of April, Obomba was in the rose garden blaming oil speculators and Iran for high gasoline prices. The clueless public has no idea it's QE that's jacking up gasoline prices and high refiner crack spreads but who cares if Obomba can blame the faceless, nameless speculators. Trust me if $GASO hits $4.30 Obomba will be on the rose garden lawn everyday doing damage control and dealing with throngs of reports who will be asking him why gasoline is so high?
p.s. this market will implode long before 2013
1. Well, looked at what they did back then where they bailout the banks. What they tell the bank to do? Hide all your lost and stopped reporting it. CNBC once reported Citi and BOA hide the big lost, after 30 minutes, that reported was REMOVED from their site. These type of SCAM by the GOV nothing new.
2. Fed pumping the market and the FED should never pumping the market. Sure, however they are doing it. How are you going to stop them? Nothing you can do. I would say just follow the trend until another week or so. Then let see the market take another nose dive.
At this time, NOTHING or ANYONE can do about it. Even we all know it is all about the scam.