Billy Ford

Wall Street: Dumb as It Ever Was

I believe the market is being completely manipulated. This administration knows that sentiment is mostly driven by the stock market. Notice how last year when the market was tanking sentiment was at all time lows, but today because the market has unjustifiably been rising for 7-8 months, that sentiment is better. People, are our economy is worse today than it was last year. The administration and they guys pulling the strings are hoping and praying each night that this consumer sentiment will eventually catch up and people will feel comfortable going out and spending money. What will happen when we face reality and know that the fundamentals associated with +10% unemployment will trump sentiment. The people with money, who can influence economies the most see through these charades, and truly realize that we are not recovering fundamentally. The only thing recovering is a manipulated stock market, which in itself is a bubble waiting to burst. Just a few questions that I ask myself. If we are recovering as the market suggests, then why is fed not even considering raising rates? It's simple, because fundamentally nothing is happening. Where is this stimulus going? It certainly isn't being used to fuel any kind of recovery, unless recovery is banks hoarding cash to cover losses from last year and expected losses of the future. People wake up, banks are hoarding cash for a reason, they are expecting MAJOR losses in the future. Other companies are hitting targets because of one thing, cost cutting. What happens when there are no more costs to cut, and we continue to see top line revenues flat? Yes, I am a bear and I believe our country has seen its best years. Manipulation can only work for short periods of time, and it will be only a matter of time before the rest of you wake up and see that we are way worse off than the media and the government play it out to be.