We Just Have To Deal With It For Now

Reality is that the markets are fully controlled by the Breath of Ben and the data manipulation by those that irresponsibly report it, and the media is under marching orders to report it as optimistically as possible(except for Santelli who keeps missing the email). The fact that we’ve now entered our 17th Weekly Fund Outflow As Equity Fund Redemptions Accelerate is undeniable. Yet, the promise of further stimulus and intervention in the face of the ever expanding national debt, consumer debt, shrinking tax base and imploding RE and CRE values is enough to make you simply shake your head in disgust.

Please take a quick peek at the National Debt Clock, cipher out your portion (and each child’s portion if you have one or more – then compare your portion to those on Barry’s payroll with more than 10 children and then multiply your “responsible portion” by a factor of say 3 to get what ya’lls portion really is) while you ponder this most recent ramp in the markets and try not to puke all over yourself.

Other facts that are undeniable …..

The continuous revision and falsification of data based on models that are irresponsible and produced by pansies on the government’s dole. Rosenberg Explains Why Yesterday’s ISM Was Likely Wrong, To Be Revised covers the 1 in 100 event we just witnessed.

Mish chimes in with Gallup Poll Shows Consumer Spending Pullback, Consumer Confidence Levels Below Depressed 2009 Levels ; Back-to-School Sales Bust Says WSJ Yup, even more data to boost the markets here for sure. Let’s take a look, “Finally, those weak sales numbers, even if they stabilize will continue to pressure states in desperate need to get tax revenue back up to 2007 levels. It’s not going to happen and states will be forced into additional huge cutbacks in public union wages, employment, pension benefits, or all three.” Sure sounds like a good reason to rally the markets to me. If you would like to refer back to the tax revenues portion of the debt Clock they are running in the opposite direction. To get more on this pease see Mish’s State Tax Revenues Slowly Rebound ..