Record high for the Dow. But 12 companies have gone in and out of the index since it last made a record in 2007. You remember that high, right? That was based on a fake housing market. This one is based on fake dollars, fake interest rates. Middle class wealth is down 40% in a half-decade. Disappearing pensions. Retirement savings being raided to pay bills. Majority with less than $10,000 saved. 47 million on food stamps.
Heard Neil Young's "Ohio" on the way home and, though it's a bit macabre, rewrote the lyrics. Here, it's not tin soldiers and Nixon coming, it's Bernanke's next QE. To the tune of "Ohio"...
Ben's next QE is coming,
We'll never be on our own.
Fifty million food stamps humming,
Record highs for the Dow.
Insiders sell in to it
Retailers will get cut down
You're a Muppet don't you know?
By now you should know better,
Than to follow the herd.
They'll make you buy high and sell low.
Insiders sell in to it,
Retailers will get cut down.
You're a Muppet don't you know?
By now you should know better,
Than to follow the herd.
They'll make you buy high and sell low.
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