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Only
in the Fed-warped world of Wall St! This chart is from this morning. A
private jobs report (called ADP) that is released each month two days
before the government report, was better than expected this morning. It
wasn't stellar, but it was better than was anticipated. At first, stocks
fell, anticipating that the Fed is more likely to "taper" off it's debt
monetization. But then, shortly after the stock exchanges, stocks, took
off, leaping higher instead. So now, I guess we are to assume that ALL
news is good news. Bad news would signal the Fed's intentions to
continue to print money as a free gift to Wall St. So buy stocks! And
good news is a sign of economic prosperity to come. So buy stocks!
When stocks go higher without regard for ANY news, it sounds like a classic bubble to me!
For
perspective, in order to bring the economy back to the state it was in
before Obama was elected president, it would require about 500,000 jobs
be created every month until his presidency ends. This morning's "good"
jobs report indicated that 215,000 jobs were created last month. And on
THAT news, stocks leaped this morning!
Only in the Fed-warped world of Wall St!
