Wednesday, September 14, 2005

Can't you just picture Alan Greenspan as Gepeto?

The ever on top of it Barry Ritholtz got the cite (http://bigpicture.typepad.com/comments/2005/09/chart_of_the_we_1.html) to the report ("MOVE OVER, ADAM SMITH:The Visible Hand of Uncle Sam") from the story I referenced a couple of days ago at http://guambatstew.blogspot.com/2005/09/calvary.html. You ought to read the full report at http://www.sprott.com/pdf/pressrelease/TheVisibleHand.pdf.

It's interesting that he referenced that issue (government intervention in the equity markets). In my "Calvary" post, I had also made reference to my "Heartless mother" post, with both posts implying the stock market, post Katrina, was also being guided (manipulated, rorted, squeezed, whatever) by Big Money. You can get real paranoid in this trade. But even paranoid people can have legitimate fears. Like the tombstone that said "I told you so."

I think Barry might be of two minds about this market right now. He suggests we have a short term upside "This does not affect our expectations for the rest to grind higher through November, and then . . ." http://bigpicture.typepad.com/comments/2005/09/chart_of_the_we_1.html
At the same time he has lots of concerns about the fundamentals (for lack of a better term) of the economy and market, e.g., http://bigpicture.typepad.com/comments/2005/09/sometimes_there.html and http://bigpicture.typepad.com/comments/2005/09/delayed_onset_s.html . I posted the comment, on his "Delayed onset" post, to the effect that "guiding hands" are acting to prevent the market from reacting to the negative elements, which is where this post came in and where we now exit.

Labels:

1 Comments:

Blogger Barry Ritholtz said...

Eventually, even the Plunge Protection Team cannot stop the forces of the global markets . . .

14 September 2005 9:31:00 pm GMT+10  

Post a Comment

Links to this post:

Create a Link

<< Home