The Market is full of Bleep

The stock market is up at +46 at 12,008 as of 1:45p...  Why?

Supposedly two reasons--

France & Germany reached Greece deal and U.S. economic activity was stronger than expected.

Let's cut through the nonsense:

First, from AP- "Greece is likely to get enough money from the European Union and the International Monetary Fund to survive through the summer, but political turmoil in Athens and disagreement between eurozone governments fanned market alarm that the country could eventually default on its debts."

The 'deal' or 'agreement' on Greece solved Nothing.  It alleviated Nothing. It was a 100% selfish, self-centered move that kicked the can down another few months as these entities try as quick as they can to protect their countries' bank exposure to Greek debt as much as possible before they let Greece default and dispose the nation from the EU.

These investing cowards breathed sighs of relief based on illusions and double talk.  They've gotten away with not having to take ANY financial loss for their financial crimes in 33 months (the 2008 crash occurred in late Sept, 08).  Eventually they and the banks Will take losses-- they Will be punished.  Just a question of when and how severe the financial hit will be.

Can't duck it forever, children...

Second, not sure what economic activity looked so wonderful today, but the Labor Department said unemployment either stayed the same or rose in other 50% of US States (26 to be exact), "a significant decline from April, when 39 states reported falling unemployment rates."- AP

Also, The IMF (which A&G hates, but nonetheless) forecast that U.S. gross domestic product would grow a tepid 2.5 percent this year and 2.7 percent in 2012.

And, "the unofficial Misery Index that simply totals the unemployment and inflation rates, is at a 28-year high, reflective of how weak the economic recovery has been and how far there is to go."- CNBC

So why does A&G get frustrated by all this?

Because odd as it seems, we're a finance & economics blog that doesn't embrace 'The Con'.  There was a time the markets ebbed and flowed based on real data and real trends. You could place money in a stock, sector of stocks, or commodity and feel somewhat sure, your investment would slowly and safely grow.

It hasn't been that way for a few years. Instead its a con-job which was orchestrated by the Fed to get the markets artificially up so it would stir confidence in people to go out and spend more i.e. get into greater debt.  And this increased individual debt load would lift the economy, so thought the Fed.

Markets go up and down based on nothing but greed and cowardice.

And if A&G can wake at least one person up to the reality of the stock market and the economy, both in the US and globally, then it was worth all the time, energy and effort to maintain this blog site.