Wednesday, November 25, 2009

Markets rise as Dollar slides....

Greetings good citizen,

It’s more than a little frustrating to think the rich are getting richer while the rest of us are slipping further and further behind. Which begs a more disturbing question…at what point do those who rob and cheat you with impunity set themselves up as your overlord?

Make no mistake about it good citizen, you DEFINITELY don’t get the SAME treatment under the law as the RICH enjoy!

Why half of these dogs remain free is a question most of us can’t answer, least of all those charged with enforcing the law. Sadly the determining factor here is who cuts your paycheck, something the ‘public sector’ was supposed to remove the inherent conflict from.

So yes, good citizen, the rich get richer while you fall farther behind, which is to say you literally get poorer because the cash in your pocket continues to shrink in value.

The rich don’t have this problem because as the value of money goes down, the value of their assets automatically goes up! Sure, their money falls at the same rate yours does but the rich have more than just a stack of cash.

If you’ve ever wondered why the rich own most of the world’s stocks, it’s because stocks are one of the few assets that appreciate in value in ‘real’ terms. Now don’t get me wrong here, stocks can become worthless just as currency can. A collector may pay you handsomely for Confederate currency but you can’t use it a store! As we all have seen in recent time, stocks lose value too (although they tend to run in the opposite direction the local currency travels.)

As an example, when stocks hit their lows back in March, the dollar was the strongest it had been in years! (Compared to other currencies…)

Anyway, the ‘stupidity index’ closed up 30 points today as tonight’s offering explains how this was once again due to the ‘falling dollar’.

Dollar Continues Its Slide; Markets Rise

Published: November 25, 2009

The dollar slid to a 15-month low against the euro Wednesday as investors fled the safe haven currency on upbeat economic reports. [Naturally, the fucktards want to paint the idea of the average person becoming poorer as a ‘good thing’, notice how they took the trouble to ‘connect’ the falling dollar to the ‘rising economy’!]

On Wall Street, shares were slightly higher after the Federal Reserve indicated that interest rates would remain at super-low levels for a while yet and that it was not overly concerned by dollar’s decline. [Which PS, by the way, our pal BenBer is powerless to stop, worse, he’s largely responsible for the losses!]

The euro climbed to $1.5077 in New York trading from $1.4975 late Tuesday, having earlier risen to $1.5096, its highest level since August 2008. The dollar fell to 87.56 Japanese yen from 88.56 yen, after earlier falling to 87.36 yen, its weakest level since January and close to 14-year lows.

The renewed slump in the dollar was driven largely by the publication Tuesday of the minutes to the Fed’s last rate-setting meeting in November. [See what I mean?]

The Fed said at the time that it planned to keep interest rates at “exceptionally low levels” for an “extended period” —currently the Fed funds rate stands at a range between zero and 0.25 percent -- and that the fall in the dollar had been “orderly.”

Currency traders seized on the reference to the dollar as the Fed is usually wary of talking about changes in currency values.

Stuart Bennett, senior foreign exchange strategist at Calyon Credit Agricole, said there was now a chance that the euro’s breakthrough opened the way for a “rapid” move higher, especially if stocks remain well-bid — for much of the past year, the dollar has moved in opposite direction to stocks. [ IF we were producing more than we were importing, the dollar would move in the same direction as stocks…since we import more than we produce, a situation that’s only good for retailers, the dollar moves in the opposite direction of stocks.]

As the dollar weakened, gold prices hit another record. Crude oil increased $1 to $77.02 a barrel. [It’s a damn good thing oil is ‘hovering’ or the phantom recovery would be ‘crushed’, nobody would buy it.]

On Wall Street, the Dow Jones industrial average rose 15 points, or 0.15 percent. The broader Standard & Poor’s 500-stock index rose 2.50 points, and the Nasdaq rose 3.96 points. Trading volume was thin ahead of the Thanksgiving holiday, which can exacerbate swings in the market.

At an economic report, the government said new claims for unemployment insurance fell by 35,000 last week to 466,000. That was the fewest claims since September last year, and better than the 500,000 that economists had expected. [Wait a minute Slim! The past couple of months the ‘official’ unemployment number has been in the one to two hundred thousand range FOR THE WHOLE FREAKING MONTH! Now these zipperheads are saying economists were ‘expecting’ the number to come in at 500,000 for the freaking WEEK? WTF!]

The drop in claims suggested that the job market was healing, but concern remains that the improvement will be temporary as the weak economy continues to push unemployment higher. The jobless rate hit 10.2 percent in October and many analysts believe it will keep rising before starting to improve next summer. [WTF!]

In other economic reports, new home sales rose 6.2 percent to an annual rate of 430,000. That was above what economists surveyed by Thomson Reuters had expected. [Excuse me…but is anyone else sick of hearing what these obvious morons ‘expect’? How stupid can these people be? Think about it, if you or I were that stupid, we’d be unemployable!]

Separately, the government reported consumer spending rose a brisk 0.7 percent last month, following a 0.6 percent drop in September. It was the best showing since August, when the government’s now-defunct Cash for Clunkers programs enticed people to buy cars. [How much you want to bet they pulled those numbers right out of their ass because there’s no way you can verify them? When you see shit like that you become very, very worried about the veracity of the elections around here. We witness stolen elections all around the world yet American’s insist, ‘couldn’t happen here!’]

Not all the day’s news was upbeat. Orders for expensive manufactured goods dropped 0.6 percent last month, the first drop since August. Economists had expected orders would grow.

Doug Roberts, chief investment strategist at Channel Capital Research in Shrewsbury, N.J., said investors were still worried about the sustainability of a recovery but are afraid of missing more of the market’s eight-month rally. [This is like being fearful you won’t get a drumstick after a Snipe hunt!…again, WTF!]

“People may not believe in this market but they’re reluctantly being pulled into it with each of these reports,” Mr. Roberts said.

Because he said so, yeah, right! (And because there’s nothing more succulent than a snipes’ thigh bone!)

Why do these people still have a job? Is it their willingness to lie? Is that what it takes to hold a job these days because it boggles the mind to think any enterprise could survive for long with that level of incompetence going unpunished.

If it were you or I, pack it in baby!..Yet these chuckle-heads will back for more tomorrow!

It’s things like this that kick the shit out of my hopes for civilization.

If investors represent the best and the brightest, we’re sooo screwed!

Thanks for letting me inside your head,


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