Goldman, Morgan Stanley and IBM release numbers that look, well, depression-like. Housing starts plunge, gold and silver spike, China’s bond market seizes up, and Deutsche Bank prepares to name names in its gold manipulation scandal. And US stocks keep rising…what’s wrong with this picture?
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9 thoughts on "Podcast: Corporate Earnings (Among Other Things) Go From Bad To Horrendous"
John,
Just have to say thanks. Always such a good report.
Left out of many of these “why is the market so high and there is no fear” discussions ignore the direct propping up of the markets by the central banks. I’m not talking about giving Wall Street play money to “invest” but rather the plunge protection team that now seems to be a force in the market not just for its original purpose of supporting a crashing market. Central bank mission creep! Has this every been quantified?
I would like to hear more about this. do you have any more information???
PL—there are many references to it. Google “plunge protection team.” here are two of them. It is not an internet conspiracy theory, but was established after 1985 crash. Also, many articles about the Bank of Switzerland and Bank of Japan being big buyers of common stock. Maybe John can give some insight.
http://www.zerohedge.com/news/2015-02-23/ex-plunge-protection-team-whistleblower-governments-control-markets-there-no-price-d
http://www.rense.com/general52/secretsoftheplunge.htm
Thanks for the info. Honestly, I did not know it was this entrenched until you put me onto it. thanks again
Who needs earnings when you have ‘algos’?
Great Podcast but it does not address the lunacy of the irrational markets. Baad news everywhere and the markets are moving higher because this bad news is perceived to be better then as bad as it good be. It is nuts. I would really like to here about this issue.