(For those who say I just don’t get it…Get this!)
For those who’ve been with me for a while you know I have been stating: “If not for the interventionist policies of the Federal Reserve manipulating prices within the financial markets, there would be no market.”
I’ve written more than enough articles and they are in the archives to prove I was far ahead of the curve than most, followed by my repulsed thoughts of objectivity when I would see or hear the so-called “smart crowd” paraded across the financial media giving their take on why this market rise was all because of “fundamentals.” (I still cringe even thinking about it.)
So much so I decided there was really nothing more to be said and openly stated I was finished with even following them as often as I did and, would focus my time and thoughts (as well as money) elsewhere. However, Thursday was one of those days where I scratched my head when I watched how the markets opened only to look and find the reasons “why” and burst into laughter. With that said let me make one point clear…
Albeit as I state I don’t follow the financial markets as much as I once did nevertheless, as entrepreneurs that does not mean one can disregard them entirely. As an entrepreneur an understanding of what is transpiring within them is a critical part of your business acumen. Regardless if one likes or dislikes what is transpiring or happening within.
Below I’ll post 2 images. First is Thursday’s market opening in the S&P 500™. The markets closed the day previously weak on some assorted rumors that the Federal Reserve might move forward on the dreaded “Taper.” i.e., Slow or stop their quantitative easing (QE) strategy. Then only to open the following morning with a surge or spike bringing it back within reach of yet another “never before seen in the history of the financial markets” all time high. The Dow Jones Industrial Average™ itself did end the day with its highest closing price ev-va!
Then as I looked around on various news sources, I find the following on the front page of the well read web-site known as Zero Hedge. Below is a screenshot of their front page with the current news articles of that day and time. Note starting at the bottom the headline followed by the time stamp of the posting. For those that may not be aware, Janet Yellen is seen to Wall Street as being not only sympathetic to continuing the present QE model but, (and it’s a very big but) even more inclined to increasing it! The middle post is what gives all this more clarity as to cry just as much as to laugh. (The economic indicators within are horrendous) Then the last headline from one of the latest to state what I have been saying and writing for years now.
(There is now an ever-growing chorus that just a few months ago were both silent or dismissing of such a notion. Now there seems to be a stampede. Who’da thunk it?)
Personally I like and respect Charles Schwab very much. He was (and probably still is) an innovator in the markets who plowed the way that many owe a great deal of thanks to. He was one of the first that makes it possible for many to handle their own affairs where it was once near impossible to do. So I thought it was just priceless that it would be his quote as to when and where it took place in time as to give me a chuckle. Reason?
He’s absolutely right! Even though I already knew, as did many of you that have been here.
© 2013 Mark St.Cyr
For those that are new to the blog I started posting these FTWDIJDGIGT a few years back when people would rush to tell me I didn’t know what I was talking about. It’s now turned into having its own fan club. I thought it was a little more creative than: “I told you so!” And, ticked those very people off with a little more flair.