Dow 20,000! What Could Go Wrong?!!
Congratulations, America! The Dow Jones Industrial Average has just rolled past 20,000 for the first time ever! Let the fireworks fly, because the ticker tape parade is about to begin!
The Trump administration, wasting no time in chalking this up to “the Trump effect,” celebrated.
Asian markets, which lifted as much as 1.8% on the news, celebrated.
European markets, which edged up across the board on the news, celebrated.
Global markets in general, which hit a 19-month high on the news, celebrated.
And why not? Such a momentous event must indicate that the global economic recovery is right on track, right? Surely we can now rest easy in the knowledge that the coming years will bring prosperity and security for all, right?
Except…
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I too have been expecting it all to come down around his (their) ears at some point in the not too distant future, but the Teflon Don’s greatest parlor trick is to deflect, misdirect and apportion blame elsewhere, it’s what he has done for his entire business life and he will carry this into his highly orchestrated term, which alas, may be longer than we think as a result. The political sycophants surrounding him do not know how to deal with this and his personal sycophants are all business people who DO understand this.
I think the folks behind the curtain understand this all too well.
Thanks James. So glad I found your site(s)
Wonderful article, easy to grasp!
Zero Hedge should run this James Corbett article.
https://steemit.com/money/@corbettreport/dow-20000-what-could-go-wrong
As Yellen raises interest rates, we certainly will see the effects in 18 months unless lots of dollars come back to the U.S. with industry.
Thanks for the link to this story James!
One of Europe’s top hotels has admitted they had to pay thousands in Bitcoin ransom to cybercriminals who managed to hack their electronic key system, locking hundreds of guests in or out of their rooms until the money was paid….
I don’t think anything can prevent this bust, but maybe they’ll manage to pull another zombie economy… did I hear someone moan Japan?
This is all B.S.——Corporatists are using their capital to purchase back their own stock (rather than hire workers or invest in R & D and Plant and Equipment and using H1-B Visa’s to further decimate the working people) thus grossly underreporting their P/E ratios and making it appear “The market is fairly priced historically”–Non-sense.
The Central Banks are now using YOUR DEBT to buy stocks. Japan is very open about it and the others not so vocal about it as Abe is but they’re doing it. It’s also quite illegal.
http://www.zerohedge.com/news/2017-01-23/80-central-banks-plan-buy-more-stocks
Blackrock, among others are the biggest owners of rental units and single family homes for rent—-blowback has been a skyrocketing rise in rentals which are further crippling the already over tapped We The People. You can thank them for your $1200 a month 1 bedroom apartment in the boonies which was $550 a month 4 years ago.
The biggest scam they are involved to date is a “targeting inflation rate of 2%” using QE (which goes to the banks and not the consuming public). Never in the history of mankind has “inflation” defined as the destruction of purchasing power, have contributed to economic growth. Inflation is NOT ECONOMIC GROWTH. It is open theft and these thieves are being allowed to continue this absurd and immoral behavior. They are thieves..plain and simple. Greenspan, Bernanke, Yellen and Stanley Fisher should be running for the hills with pitchfork gangs chasing them. This is Rome using tin instead of silver in their coinage–just updated version.
I smell Agenda 2030 in the air. Btw-They now EXACTLY what they’re doing. This is not “incompetence”-it’s a planned destructive force. Time to fix it by DOW 30,000.I hope Trump smells a set-up. Thievery used to be illegal.
The Mohawk
Thanks for the data about Blackrock. My rent just got raised and I live in a dump. Apartment complexes are going up all over the place in the Texas area…and I can’t figure where all the “new renters” are coming from.
My interest is not the fantasy ‘Stock Exchanges’ of the world [ https://en.wikipedia.org/wiki/List_of_stock_exchanges#Major_stock_exchanges%5D , but what can replace this old,old, rich man’s coercive cudgel -{ Ideas please!!} … the phoney ‘currency exchange rates’ might then be honestly/morally dismantled.