Saturday, August 13, 2011

Wall Street woes just a bad dream...

the media is busy doing what it does best: spin the headlines to reassure the public that everything is under control -- just continue to trust the ruling elites:

Wall Street ends wildly volatile week on a positive note - "Reporting from New York and Paris— One of the wildest streaks in Wall Street history came to a tame close with blue-chip stocks not far from where they were when the week began.

After four consecutive days of 400-point swings, the Dow Jones industrial average rose a relatively modest 125 points Friday to bring the blue-chip average only 1.5% lower for the week. At one point this week, the Dow was down a dizzying 7.3%."

it's almost as though they're counting on a case of collective amnesia -- like, for example, where was the stock market back in may? then the bull rush was on, and 13,000 was well within reach.

watch as the bottom starts to fall out in the next month or two before buying into the happy talk.

and also, don't forget that the market and main street are two different things -- to say nothing of working stiffs who have been standing still financially since the 1970s.

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