I wonder how far they are willing to take this stock bubble?
It can keep drifting while there is no adverse geopolitical or economic news.
But the economic recovery is faltering. Or perhaps it would be more correct to say that the illusion is fading.
Zerohedge had an interesting article today about the ratio of Net Worth/GDP that may be signaling an asset bubble has already formed in the US. The Fed's propensity to create asset bubbles in order to continue to sustain an inefficient and parasitical financial sector provides plenty of room for concern. Their inability to provide the necessary reform because they are caught in a credibility trap is a recurring theme here.
It is a bit off the topic of markets, but Glenn Greenwald has an interesting story of how the US media manufacturers stories, and then tailors the narrative of the subsequent discussion of those 'stories' on their talk shows and panels to keep putting forward certain false and misleading propositions to the public.
I have seen some bloggers and internet trolls doing this, 'exposing' people as 'charlatans' but it is a bit jarring to see this done so readily by the mainstream media.
Have a pleasant evening.
