Inquiring minds may be wondering how something announce later could have precipitated a rally sooner. The answer is leaks. Someone always knows in advance and that someone is never you or me but rather banks and hedge funds.
Neither Maximum Intervention nor Japanization are sustainable. There simply is no political will by anyone for prolonged Japanese-style debt-deflation, and maximum intervention will blow up eventually. Eventually Crisis 2.0 will take hold, and the sooner the better.
In spite of the fact most of us realize lies will not help, and most often makes matters worse, governments repeatedly resort to lies, platitudes, and wishful thinking when they get caight in a jam.
As a business owner, I could conceivably fire an employee, hire someone else (who has been looking a job for at least six months) and receive a $4,000 credit. That was really well thought out!
Ben Bernanke, Hank Paulson, Tim Geithner, Larry Summers, and a parade of bankers and ex-Goldman employees all said this had to be done to spur lending. It was a lie.
We think it will take dramatic action in Europe to break the downward spiral. On its present course, the risks have increased substantially of major European bank failures or nationalization, a European recession and a breakdown of the euro.
The bear market is back says Australian economist Steve Keen. I agree. Moreover, the recent action, including the rally, offers sufficient evidence. The biggest percentage gains in history have all been in bear market rallies.
Palestinian Spokesman on CNN: It's Israel vs. Palestinian Civilians--Israel Violated Ceasefire and Massacred Civilians | Greg Hengler
History Professor: Convicted Cop Killer Mumia Should Be Celebrated Like Martin Luther King Jr. in Schools | Katie Pavlich