The Three major factors that influenced the Market on Wednesday:
1) China released new trade data. Amazingly, however, some people are actually questioning data that has been released by the honest and transparent government of China. It’s not as if the Communist state has ever manipulated numbers, built empty cities, or circumvented conventional economic models to make their performance on the world stage seem more grandiose than it already is. After all, commies have traditionally been the party of transparency and honest self examination. Bloomberg news, however, dubbed the latest trade data from China as “absurd.”
It’s kind of refreshing to see the media catch up to what the rest of us already knew:
2) On that same note, Bloomberg made another leap of intellectual integrity when they reported that disability may be a contributing factor in the recent unemployment rate. Suddenly discovering what many others have been shouting for the past three years, Scarlet Fu (the brilliant and beautiful) reported on the drop in unemployment rates, as it relates to the record number of Americans collecting disability.
It kind of makes one wonder: If enough people drop out of the labor force, and start collecting disability, will the Fed bring an end to their QE?
3) Speaking of Ben “QE” Bernanke’s Federal Reserve: The Fed minutes were released early. With a clear devotion to more easing, the Fed minutes gave the market that kind of “short term” confidence it needed to reach new intraday highs. The “best economic recovery EVER” continued Wednesday morning as the S&P climbed up, and up. As if a correction is nothing more than a farfetched fantasy, even the bears are beginning to jump into the Market. . . Hey, enjoy the ride. Just have a backup plan in case that “fantasy” of a market correction ends up manifesting.
Hmm. . . I wonder what the "news" will be tomorrow.
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Michael Schaus is a talk radio host, the Associate Editor for Townhall Finance, and the executive producer for Ransom Notes Radio. He is a writer, artist, and political humorist. Having worked in a wide range of industries (including construction, journalism, and financial services) his perspectives and world views are forged with a deep understanding of what it means to be an American conservative. Visit RightWingImage.com for more from Michael.