Reading on the Ponzi: 9/6/13
The U.S. equity market seems to be waffling as to whether they want to break down or break out. It never ceases to amaze me that QE (taper or not) drives the market rather than any correlation to economic reality on Main Street. Is there any doubt that the stock market not longer reflects economic reality? Instead, it had become a policy tool used to bolster economic confidence. The old axiomatic belief that the market reflects and anticipates reality has been turned on its head, with Fed policy explicitly juicing the market in hopes that sufficient stock market strength will bolster confidence on Main Street. But I digress.
Some interesting reading:
The Fed does not deny that it is manipulating stock prices through policy.
Bryan Rich at Forbes appears to believe, like I do, that “confidence” is the primary goal in Fed decisions.
Nothing like having a major bank CEO declare there’s a 0% chance of a 2008 repeat to suggest a repeat of 2008 may be right around the corner.
In an unrelated but interesting article, Charles Hugh Smith reminds us that America’s love of “convenience” is likely a major driver in escalating obesity, diabetes, heart disease, etc.
As the political machine works to get the mainstream media on board with bombing Syria, the U.S. hypocrisy should not be left unmentioned.
From Michael Krieger at LibertyBlitzKreig, a list of 10 instances in which the U.S. used chemical weapons.
The U.S. knew of Iraqi use of chemical weapons in the 90’s, and did our best to insure they were maximally effective against Iran.