2009-08-04denninger.net

``... how do you square [the rally] with the fact that earnings are dropping like a stone on a year-over-year basis, revenues (the more important indicator of economic activity) are down double-digits on average, and consumer purchasing power (as measured by tax receipts, down 22% at a federal level year over year, the worst since the Depression) is in the toilet? We're told this is "money was on the sidelines" and "people are rushing in." But the statistics say otherwise: Only $400 billion has shifted out of money market accounts. ''



Comments:

tvsterling at 20:37 2009-08-05 said:
Massive pump & dump on the public's dime. Does it get any lower than this? Forget about financial destruction, the moral destruction is already complete. Bush's third term is not deliberate, government couldn't control these people if it tried. America is finished. Permalink

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