Here’s the bounce.
We cheer because the Productivity report …isn’t as bad as expected… and the Labor Costs report …didn’t increase as much as expected…
If you are a Bankster or part of that world, you cheer the bass-ackward.
One fact is out there: If you are one of the deluded masses who simply don’t think it can happen here, there are many bargains on the Market today. So, they buy. Ignore the reality of the past week…pretend it doesn’t exist and buy, because now I have a small fortune in X stock or Y Investments.
And, do not discount that President Obama was out this morning with calls for more Stimulus and the Street is waiting with baited breath for what Ben will do…all Banksters love it when Washington “helps” because when Washington gets in the mix, free money follows.
Volatility is where the money is made in the world of Wall Street. Volatility is Opportunity…and they will follow the Volatility into the abyss. And those rumors that S&P gamed the market in order to make a few fortunes…nah. winkwinknudgenudge.
When a Bankster is happy, double-check that you still have your wallet.