IT'S A TRAVISCHMOCKERY
Is there one single reader of this blog that believes this number is true?
It matters not one bit for our purposes to what degree the government doctors this number, but since it was released today it is worth commenting on this just for a moment. One of the things in life that I as a sarcastic leader I always get a kick out of, is how people lie. It is a given they do, let's face it I doubt even OJ truly believes he did not murder two people. Where the mustard gets off the hot dog with liars is that they just go too far with things. I think repeat offenders develop an impunity in their minds and just keep going farther and farther along until it is just so silly and obvious to everyone that they get away with it. It has then become so obvious that everyone laughs it off as a joke and there are never any ramifications. Isn't it funny how people who tell little white lies always get in the most trouble. Those who spit out the whoppers walk scot free. This above is a WHOPPER on steroids.
Having other business interests much more tied to grass roots economic conditions in this country, I would bet every single penny I have that this number above is a complete lie that is not even close to the truth. Yet each month it will slowly get better regardless of whether actual hiring is taking place. Then on top of this we have the unions defending their extortion tactics. Let them get the recall measures on the ballots, they are going to find that most Americans who are getting screwed by the preferential treatment unions get are not going to vote for them to continue to screw them. It does not matter how much money they spend, they will not be able to convince the public of their lie any more than the government is doing so with this nonsense reported today.
On top of all this we now have these stories about all the billions of dollars these bailouts are making the tax payers of course setting up the stage for QE 3 which has the sole purpose of new all time highs for the stock market and nothing else. Their is no accounting of any of this of course than anyone can review, so I guess we just take their word for it. If it is really that profitable why wouldn't we bail out every single company in the US? If we can make that amount of money doing bailouts, it would be the solution to the budget deficit would it not? It is more profitable than selling illegal drugs if you believe what the FED is saying. A picture says a thousand words. If that is true I think the chart that follows will be my final piece of evidence on this skit about how much money we are making on bailouts. I say put Bernanke and his posse in jail for perjury yesterday.
I have maintained all along that this back door union payoff that is otherwise known as GM will ultimately go back down into bankruptcy once again. Does this chart of GM look like a success story of a company that is just going gangbusters after being bailed out? Keep in mind about 90% of the stocks right now are rolling upward at pork belly types of angles. Somehow this wonderful success story is not, I wonder why?
We do have a few interesting things happening today behind all of this nonsense that is being paraded out on stage for us to clap for. I have been talking about the Dollar recently saying to watch for a reversal and a trap on that recent new low, and it appears we might be getting that here.
We have of course see a few recent attempts to break this down trend fail, so this is not a done deal yet but it certainly has the makings of something here. It is prudent to look for buy signals here in my view. The last point for today is something just as a correction for the record. Yesterday I went through my logic as to why I bailed the short I had going in Crude Oil. We actually did reverse that trade to a long trade in our trading account for the Robbins Contest, which has worked out nicely. I will show that trade result once it is exited.
I will never post all of Robbins trades live because of the conflict of interest that is obvious. I did not intentionally leave that out, I just felt that it might generate questions as to why we did that which I did not feel like dealing with yesterday since I had alot of other things going on. I did not reverse in my personal account and at times I do trade that differently. As to why we did it, there was a decent buy signal although not great, but we were with the big picture trend. Once the sell was negated so quickly, we felt it made sense to go with the momentum. I caution people not to get carried away doing things like this. It can be dangerous. Don't try this at home, etc...
The only remaining mystery for today is whether they can make new yearly highs in the SP 500 or will it take until next week.