As we all watch the stock market ticking higher, Drudge has this short piece up today from Zero Hedge entitled: ‘The Last Time the Dow was here‘ by Tyler Durden.
My theory is that all the little investors are being sucked back into the market so that the big guys (the guys in the know) will get out in time with gobs of money. It is a house of cards, it can’t go on much longer. And, heck if it crashes soon Obama can blame that on the sequester too!
Update: Soros and other billionaires dumping US stocks, here.
Here is Zero Hedge:
“Mission Accomplished” – With CNBC now lost for countdown-able targets (though 20,000 is so close), we leave it to none other than Jim Cramer, quoting Stanley Druckenmiller, to sum up where we stand (oh and the following list of remarkable then-and-now macro, micro, and market variables), namely that “we all know it’s going to end badly, but in the meantime we can make some money” – ZH translation: “just make sure to sell ahead of everyone else.”
~Dow Jones Industrial Average: Then 14164.5; Now 14164.5
~Regular Gas Price: Then $2.75; Now $3.73
~GDP Growth: Then +2.5%; Now +1.6%
~Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million
~Americans On Food Stamps: Then 26.9 million; Now 47.69 million
~ Size of Fed’s Balance Sheet: Then $0.89 trillion; Now $3.01 trillion
~ US Debt as a Percentage of GDP: Then ~38%; Now 74.2%
~US Deficit (LTM): Then $97 billion; Now $975.6 billion
~Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion
~US Household Debt: Then $13.5 trillion; Now 12.87 trillion
~Labor Force Particpation Rate: Then 65.8%; Now 63.6%
~Consumer Confidence: Then 99.5; Now 69.6
~S&P Rating of the US: Then AAA; Now AA+
~VIX: Then 17.5%; Now 14%
~10 Year Treasury Yield: Then 4.64%; Now 1.89%
~EURUSD: Then 1.4145; Now 1.3050
~Gold: Then $748; Now $1583
~NYSE Average LTM Volume (per day): Then 1.3 billion shares; Now 545 million shares
So what does Louis Armstrong and it’s a wonderful world have to do with it all?
A commenter at Zero Hedge, ‘fonzanoon,’ said “ssshhhh” and links Armstrong (listen here). Kinda of makes you think of better times doesn’t it? Come on! Sing along!
I see trees of green…….. red roses too
I see em bloom….. for me and for you
And I think to myself…. what a wonderful world.
I see skies of blue….. clouds of white
Bright blessed days….dark sacred nights
And I think to myself …..what a wonderful world.
The colors of a rainbow…..so pretty ..in the sky
Are also on the faces…..of people ..going by
I see friends shaking hands…..sayin.. how do you do
They’re really sayin……i love you.
I hear babies cry…… I watch them grow
They’ll learn much more…..than I’ll never know
And I think to myself …..what a wonderful world
No worries! If that doesn’t cheer you, glum is o.k. because, as reader Henry told me the other day, German researchers have done a study and concluded that the doom and gloomers among us will live longer!
It is all going to end badly. Are you prepped?