The insidiousness of it all...

~ It sounds contradictory but in order for there to be a sincere US recovery, we need to see more stock market trader reactions like this...
____________________________________

Is the stock market going up or down today?

Based on my very simple to understand "Cheat Sheet", when oil climbs and/or the dollar weakens, Americans suffer which means the US Stock Market goes up.

So let's see... hmm..

"Stocks turned higher Wednesday... as rising oil prices offset worries about the global economic recovery. Europe's worsening debt crisis and weak Japanese exports raised concerns that the world's major economies were flagging. Oil jumped above $100 per barrel, helping to turn energy stocks higher." -- AP

Yep.. why the news of oil spiking over $100/barrel was So wonderful to the Cockroaches who make their living trading and investing, that they were able to pretend something will not happen that EVERYONE knows will eventually happen-- an eventual Greece default sending the European Union into financial chaos.

Here's how AP spins it:  "Greece's government and opposition party failed late Tuesday to reach consensus on how to control the country's debt troubles, adding to the uncertainty around Greece's financial future. Many analysts believe Greece will eventually have to restructure its debt, but it's unclear what form that would take."

Um.. no- Greece is way past restructuring.  Quite honestly it should have threatened default on the EU and ECB about two years ago,playing a game of "chicken" to force delayed repayment and/or extremely good interest rates, or to simply let everything collapse then.  And if Greece had done this convincingly enough, they would be in a better financial shape no matter whether the EU conceded or not.   Instead, Greece has delayed the inevitable while the Investors who are holding onto Greek debt are able to keep making profit off the nation.

Oh you''ll never hear the word 'default' used when it Does happen (you can't choke an entity to death and demand it 'breathe' at the same time), it would trigger nasty credit default swaps, heavy bank losses and financial insanity which would in time extend globally.  So expect a clever term to be invented, much like "Quantitative Easing" was invented as a phrase to replace the word bailouts because the public didn't seem to like it much for some reason...

Ah but I digress.. Oil is up today..  which hurts Americans entering Memorial Day weekend travel..  so US markets rise and US media news outlets report it joyously...

See how insidious it all is?