If you follow the news headlines, especially the business news, then you undoubtedly are aware of the recent activity in the markets, i.e. the stock markets of the U.S.A. and other industrialized countries. Various fear-inducing words and the typical hyperbole associated with newsroom headline writers have been employed liberally. The verbs ‘plummeting’ and ‘plunging’ have appeared almost daily.
Oh, how I tire of this nonsense. Is there anyone out there still who takes this reporting seriously or who remains unaware that the markets are fake? The numbers are cooked; they are rigged. The Dow at 16,000? How is that possible? Under what conception of reality do they operate where the market could be valued so high?
Remember the financial crisis of 2008? Has the U.S. actually recovered from that? Have the root causes of that crisis been addressed and rectified and have the wounds healed? Is the U.S. now a healthy, vibrant economy with strong fundamentals? The answer is, of course, no to all of the above. All of the fundamentals remain weak. The U.S. still runs a budget deficit and the debt remains astronomical. Unemployment remains high. The economy is supported by little more than consumer shopping which is propelled by the accumulation of yet more debt.
The Dow Jones Industrial Average has lost some of its value since the beginning of the year and people are hyperventilating. However, on Friday, the market ‘bounced back’ and ‘recovered’ some of its losses as ‘bargain hunters’ swooped in blah, blah, blah. This is the good old ‘plunge protection team’ at work. We have seen this invisible hand at work again and again over the last twenty years. Every time there is a hiccup in the market and the Dow loses a few hundred points and everyone starts predicting that this is the beginning of the end, it starts creeping back up and within a few days, the Dow is right back where it started! So, what about the cause of the original crash two weeks ago? Was that fixed so quickly? No. I have witnessed this cycle occur every couple of years and now it’s become stale. The Dow Jones and Wall Street is little more than a high-tech reality show meant to keep the masses mesmerized with lots of flashing screens and numbers and to convince them that the health of the banksters and the elite equates to their own health. Time to turn off the television.