Thursday, April 15, 2010

Nothing can get them down.

Awh. Wall Street. Gotta love them. I'm starting to wonder if they are going to try and keep this market up until the election. Which would be impressive. Summer is a hard market to keep up. The whole sell in May go away, thing.

Rising unemployment doesn't bother them.
Surging housing repos don't bother them.
40 Mil on food stamps doesn't bother them.
34 states borrowing unemployment funds don't bother them.
Expected surging layoffs from states having to close budgets don't bother them.
A Greek default doesn't bother them. Oh yeah. You thought that was over. Turns out no one believes the EU is going to lend them money, so until they do - their bonds are still effed. Just being a cosinger isn't apparently enough.
Commercial vacancy rates don't bother them.
Stagnant wages don't bother them.

Sales numbers are up though. I don't know how the eff that is happening.

I'm starting to believe wall street is a little like rabbits. They hide the injury until they can't hide it anymore. Then they cave.

Still - they have to keep it up right? That way President Money Bags's people can come on all the shows and say "look, Wall street doesn't think things are bad". And everyone listens to them.

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