Insanity: Economy is not recoverying but returning to boom
By Daniel at 30 April, 2009, 12:18 pm
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Looks like the recession is over! In six months, according to the stock market, we are recovering and entering a boom. The Dow should be back to 13,000 by the end of the year.
Thank you Mr. Obama, you have done it even though most of your policies and plans have not even taken effect yet. You just say it and it happens! Just wait until your policies do kick in. I am expecting a fast recovery into prosperity even better than the first 7 years of Bush by 2010.
One question, if the recession is bottoming out before any of the stimulus money hit the street, then why do we need to spend all the trillions of dollars now in the Congressional pipeline.
Those who have been trading for 39 years know pretty well that not only markets but gold, silver, commodities, forex etc. are all equally manipulated on daily basis and there is no justification of this huge manipulations.
For example, oil went from $ 50 to $ 150 in just 3 months and in next 3 months again came down to $ 50.
This is what we have made the system.
Moreover, as the technology will advance, we will see more ups & downs in every field in very short periods.
During WW1 & WW2 there was no internet, mobile phones etc. and now you can search whole world sitting in front of your PC every minute. So there is no comparison of past and present trading trend.
If you are smart, clever, intelligent, sharp you will adopt the new system to your advantage otherwise will be left behind.
For markets, we all are justified in saying that markets are not moving with fundamentals, technicalities, economic reports are manipulated etc.But Bush had said “these are extra ordinary times and we have to take extraordinary measures”
Ben says “I will use all available tools at my disposal”
Timmy says”I will remove all toxic assets from bank’s balance sheets” and so on.
So these people in power have an agenda and have to try as non of us has undergone such an alarming situation in our lives.
Bottom line is that those CEO’s responsible for bring this mess in the first place should be punished.
Secondly if Obama has to put $ 2 trillion in banking system to make it working again then he should do it straightaway without wasting time or nationalize the banking industry for 5 years and put them back in private hands with very stiff regulations.
But something should be done fast as already 18 months have been lost.
G7,G20 meetings are good for nothing except dine & wine.
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