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Old August 17th, 2009 #631
Zenos
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Join Date: Sep 2005
Posts: 3,514
Zenos
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Looks like we had a little mini crash today. The Fed extended TALF for one, if the economy is improving, why do they need the extension?

Basically, it's not getting better, it's continuing to get worse, and it's going to get a lot worse soon. They can artificially prop the market up for so long, you can bet that any time a rally occurs at this point, it's not going to be from natural activity but through gov manipulation, and propaganda type reporting to get people to buy into the market.

For example, the MSM reports new home sales are up, but neglect to report there were higher numbers of foreclosures in the same time period. Lowe's and Home Depot dismal numbers are more proof of that. People aren't able to pay for home improvements. The local HD here is usually half empty, even on weekends, I've never seen that before.