Oh My - the market is up four days straight and

[malaise]

President Obama cannot be the reason for that so it's time to welcome back Anna Nicole Smith.

[skooooo]

1. Anna's death is of supreme importance!

:eyes:

[redqueen]

2. And yet still there are clueless idiots

who believe the media is liberal.

Every single day I am reminded of Idiocracy.

[damonm]

3. "every single day..."

Dude, people in the Red states are LIVING "Idiocracy"...

[dbonds]

4. It going up can't possibly have anything to do with stimulus money starting to get in the system.

We all know that wall street showed their opinion of the stimulus the last few weeks by letting the market drop. This has to be a blip.

(sarcastic satire if that wasn't obvious)

[MercutioATC]

6. Actually, it's too early for that.

The market bounced on rumor, nothing more. Even if the stimulus does make a substantive difference (and I don't think it will) that money's not in the system yet.

[TheWatcher]

7. It doesn't.

Educate yourself.

On Monday, we were facing the collapse of the Banking System itself, save for JPM and Wells Fargo, GM was Collapsing, and GE was giving indications that they would be broke by the first week of June.

Then on Tuesday Morning, Vik Pandit, the CEO of Citi, "leaks" a memo saying Citi was Profitable for the first two months of the quarter. There was no tangible, substantiated evidence of ANYTHING in that memo that the gist of said memo had ANY basis in reality other than "Hopes" and "Assurances".

Basically "We're Profitable because I said so."

Over the next two days, ALL of the Banks came out and Parroted the SAME propaganda from the SAME Script. Bernanke gave some Bullshit fluff speech to Congress about "New Regulation" (Yes, THAT is going to happen), and there was much ballyhoo about the possibility that they "May Recommend" the modification of Accounting Rules that allow Banks to deal with their toxic assets.

IN THREE WEEKS.

Then GM, that was on the verge of collapse Monday night, comes out yesterday and claims it won't need that 2 Billion that it was desperately asking for in order to survive. Then ALL the Banks said the same thing, and GE did as well.

So, all of these Failed institutions, who just three days before were on the brink of the Abyss, are now all Smiling and parroting Propaganda from the SAME script of a "leaked" memo with NO Basis in reality WHATSOEVER, saying "We're Fine, We're Profitable Now, We Don't Need Anymore Help", and so many Americans want to BELIEVE them and start hailing this as "The Recovery?"

WHAT is WRONG with People?

If this was so damn simple to solve within 72 hours with leaked memos, "Hopes" "Assurances", Propaganda, and everyone smiling and saying "Oh, It's Fine, We're Profitable", THEN WHY WAS THERE AN ECONOMIC CRISIS TO BEGIN WITH? Why Are ENTIRE Countries Collapsing, their Governments falling, their populations slipping into lawless chaos? Why all the Bailouts? Why All The Gun To The Head Legislation? Why Has The Stock Market lost 50% of it's Value in six months"? WHAT'S THE BIG DEAL?

News Flash: The Unfunded Liability of The United States is $66 Trillion Dollars. The GDP Of The ENTIRE PLANET is $65 Trillion.

Yes, The Stimulus will Save Us all.

We are not going to have a recovery in six months.

Hopes, Assurances, and Propaganda will not save the economy, it Will not bring back the millions of jobs that have been lost, and it will not create new ones.

Why am I so angry? Because we are being fed a bunch of lies and Propaganda as a "recovery", when all this nonsense is nothing more than Artificial manipulation to Higher Prices so that the Criminals can net short term gains and bail THEIR money out to safer havens, wherever that may be.

THEY ARE PLAYING THE SAME SILLY GAMES AND DOING NOTHING TO ADDRESS, CONFRONT, OR SOLVE ANY OF THE REAL PROBLEMS.

Nothing.

Is it any wonder that there was a story on Bloomberg earlier this week about the Citi insiders who just HAPPENED to buy a big chunk of Stock a couple of days before the "Miracle Memo" leaked, and how they made out like Bandits for a 2.2 Million dollar gain, and "Oh what a gutsy move that was to buy that stock so bravely when it looked like Citi was going to go under. What a LUCKY BREAK!"

Think the SEC will investigate THAT?

Oh, but I know. I'm just a "Doom And Gloom" Fetishist that wants everything to collapse because I am jealous of Obama.

"THANK GOD IT PASSED!"

:eyes:

[TheWatcher]

5. Yes, The Market is up for Four Days Straight.

Based on "Hopes" "Assurances" and well placed Propaganda.

It amazes me how many people are willingly buying into something that is nothing more than Artificial Manipulation and Organized Fraud, led and perpetrated by the same Criminals who got us into this mess in the first place.

The Banks and the Wall Street Fraudsters have done nothing but lie to the Public for 10 years through two Fake bubble Economic Environments, and after all the destruction they have caused, so many people STILL want to trust them after this four day Carnival Of Bullshit based on not ONE piece of technical,fundamental, tangible data, or any thing resembling ANYTHING that would indicate an actual recovery.

But then again, it's typical. We'd rather feel good than face reality.

For God Sake America.

WAKE UP.

THIS IS A SHELL GAME.

[malaise]

8. I don't give a flying fuck about the markets

I do notice that President Obama is blamed when it is going down, but M$Greedia is full of trivia when it is up.

[TheWatcher]

10. That's good that you don't because they have absolutely ZERO to do with the Economic Reality on

Main Street.

This has NOTHING to do with Obama.

It has to do with the fact that we are being lied to and Propagandized that a "recovery" is in the process when all that is happening is the same silly games of Manipulation to higher prices so that the Criminals can net short term gains.

People are cheering something that isn't real, and has ZERO to do with their fate economically. The only thing this kind of Ponzi Manipulation accomplishes is short term gains for the very criminals that have CAUSED this Crisis, and the delaying of the inevitable, which will be WORSE because of the dislocations caused by their reckless Moral Hazard.

We will NEVER have a functioning economic system that works for ALL of us as long as the Foxes are left to guard the Hen House.

And if they DO manage to blow another Bubble out of this, (And since they have no actual FUNCTIONING system anymore, I have no idea what they are going to use this time. Perhaps "Hope" will be the Final Bubble), then the next one is likely going to take CIVILIZATION itself with it when it collapses. And if that seems paranoid and extreme to you, then you need look no further than the fallout we are having from this last one to give you guidance.

We CANNOT afford any more of this.

This Foolishness MUST stop.

It's that simple.

[amandabeech]

11. My bet that when prepared according to GAAP,

those earnings will be washed away in one-time charges.

The latest is that the FASB will discuss revising the "mark to market" rules in its Monday meeting. How many people will believe the the banks' and AIG's financials if the valuation of these "assets" are set by the crooks who cooked them up in the first place?

It sounds to me like the CDOs are so bad that they can only be covered up, not actually covered.

It's just all too convenient.

[TheWatcher]

13. The Problem is that most companies ABANDONED GAAP Accounting Principles LONG AGO

They now use something called Pro-Forma Results.

Which, without getting too technical, essentially means "We Made It Up."

The problem is that you and I have to live by the so-called Rule Of law.

These people live by the Wild, Wild West rules. In other words, No Law At All.

Somehow, and I may be being a bit eccentric here, forgive me, but things just seem a tad bit out of balance to me.

[amandabeech]

14. GAAP is still around, but GAAP is not the same as pro forma.

The quarterlies will be GAAP, but unaudited, and are more reliable.

Personally, I view these two month earnings releases as worth the electricity with which they're transmitted.

As you noted, the pro formas give the reporting company more leeway in what to add and subtract from the basic info.

However, if truly misleading, the SEC or defrauded investors may take action.

[TheWatcher]

15. The SEC should already be taking action against the Citi Insiders who bought all of that Stock last

Week when it looked like Citi was going to be Nationalized, and then they made out with a 2.2 Million dollar gain in two days, after the "Miracle Memo" was released, because of their "Savvy, brave, gutsy trading."

Will they?

So far....SILENCE.

We shall see.

I'm STILL waiting for their moves on AIG, the 9/11 Insider trading on the Airline Stocks, etc, etc, etc.

[amandabeech]

19. If they're investigating, we won't know it unless they bring charges.

Executives have windows of opportunity to buy and sell coming after major filings. 10-ks were filed on time at the end of February. The executives must wait to let the market absorb the information, then if nothing else is going on, they can buy or sell safely. It's the same formula for everyone, so everyone enters the market at pretty much the same time.

However, if they were my clients, I would have advised them to stay out of the markets if they thought that they were going to issue these 2 month numbers afterward.

But then, it's been a few years since I practiced in the area, and everything has sped up because of the instantaneous transmission of information on the internet.

[DireStrike]

17. I don't understand why the super-intelligent overclass continue to be taken in by this shit

They have money, how can they be wrong? They would not have money if they were stupid, head-in-the-sand idiots.

:sarcasm:

Where is this fucking money coming from? Who is investing in things based on the bullshit? Is it the general public? Is it the empty-headed trust fund babies? I guess one is so desperate and the other is so stupid that either could be fooled into parting with yet more of their cash.

[DireStrike]

18. dupe -nt-

[petronius]

9. It's proof that Bush's policies actually worked - we just didn't give him enough time

America didn't deserve that fine patriot... :cry:

;)

And if this ;) isn't enough, :sarcasm:...

[malaise]

16. Thanks KO

You got the point. :yourock:

[TheWatcher]

21. And apparently a lot of people are MISSING the point why all of this nosnense is happening.

It. Has. Nothing. To. Do. With. Obama.

I give up.

The Market's up, the recovery is here, Buy and Hold, The Crisis is over, Prosperity is Back, Happy Days Are Here Again, We've been saved, etc, etc, etc.

PRAISE MARTY MOOSE!

[malaise]

22. We know that

but M$Greedia would like the uninformed to believe that the markets have something to do with anything other than manipulation.

I'm betting that this week's manipulation has more to do with the Chinese pronouncements that they have lost faith in investing in America than any rubbish spewed on M$Greedia.

[TheWatcher]

23. It's actually probably just more Wealth transfer from the Public to the Criminals hands

But there is something very telling in that China Story, and I am very glad you mentioned it.

That was very quietly trotted out this morning, and NO ONE in the Media touched on it or mentioned it.

That is a VERY BAD sign.

If the Chinese decide that they want no more to do with Uncle Sugar's IOU's, then we are IOSCREWED.

But there is much more going on as well.

The one thing you STILL have not heard about in the Media is the situation in Eastern Europe.

I CANNOT stress this enough.

If Eastern Europe Crumbles, it will likely take the whole of Europe with it.

And Pandit won't be able to write a Memo to save that one.

[pscot]

12. Bear trap

n/t

[Catshrink]

20. It must be relief that Bristol and Levi broke up.

I mean, the financial world has been on pins and needles waiting for this to happen.