The stock market seems to be pretending that the economy is doing good, but people are not buying this bullshit:
With the Dow Jones Industrial Average moving past 13,000 toward pre-financial-crisis highs, the conventional wisdom is that the stock markets expect a robust economy soon — just what President Obama needs to guarantee his re-election this fall.
Not so fast.
Yes, the economy may be improving after its anemic growth in 2011, which is better than a double-dip recession for a president seeking a second term. Stock prices — traditionally a good indicator of future growth — have been rising.
But much stock market “strength” appears to have less to do with a firm investor consensus that the economy is about to take off and more to do with technicalities.
For starters, returns on bonds are rock bottom, thanks to the Federal Reserve’s policy of keeping interest rates near zero. That forces many professional traders to bid up stocks.
Plus, while the pros these days cruise in and out of the markets at lightning speed and with no purpose other than to make a quick buck, the average investors who’ve traditionally used the markets to save and invest for retirement seem to have come to a far different conclusion about the markets’ prospects.
Main Street is ignoring the market’s rapid rise, no matter how much money the pros are making. Rather than investing in the much-hyped Obama recovery, small investors are giving it a big, fat thumbs down.
I keep getting told by the LSM and leftists that things are getting much better and full recovery is right around the block. Then we discuss jobs and growth, and they all admit that when you look at the real numbers, not the crap they peddle, things are bleak, if not downright messed up, and will remain so for a long time. These two things completely contradict each other and the narrative that the economy is soon to start flying again.
We keep getting told by the LSM that unemployment is dropping! That’s a sure sign things are getting better, right? Not so fast. If the occupier at 1600 Pennsylvania Ave had a (R) by his name, do you doubt that the LSM would be pointing out that drop is primarily caused because so many people no longer can get unemployment and have been dropped off the ledger? What about the fact that when you do statistical comparisons you see that we have one of the largest number of unemployed and under employed in the past century? Let’s not forget the massive swelling of the ranks of people on the dole in the last 3 years. The LSM and the left would love for you to think it is all someone else’s fault, and that what the retarded collectivists that have been making decisions in the last 3+ years have done has no impact, but you have to be a moron or a progressive – same thing I know – to fall for that nonsense.
If the average investor doesn’t think Obama is producing economic recovery, then the president may be in ever bigger trouble come November than his low approval ratings suggest.
That’s exactly why we are getting bombarded by the LSM with bullshit about everything but the current economic conditions and the actual actions of the people that have been running the country for the last 3+ years, unless they can also blame someone else for things going bad. The American public however is catching on, and even the most hard core leftists knows these clowns have been an epic fail, even if they are not admitting that, and that’s going to hopefully make sure that we get a real change and finally some hope come November.