Comments on: Where Is This Rally Headed? http://www.thelibertypapers.org/2009/06/26/where-is-this-rally-headed/ Life. Liberty. Property. Defending individual freedom and liberty, one post at a time. Mon, 17 Jun 2013 22:29:16 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: SWilliams http://www.thelibertypapers.org/2009/06/26/where-is-this-rally-headed/#comment-68052 SWilliams Sun, 28 Jun 2009 01:03:55 +0000 http://www.thelibertypapers.org/?p=6243#comment-68052 The only problem with this rally is the massive amount of Fed and Treasury money involved, we didn’t have that in 1929. This market has yet to be allowed to touch bottom and it will of its own force at some point, be it by the end of the summer, year, decade… As you say, the fundamentals aren’t there, in fact I think they’re horrible.

Some troubling signs for me have been; massive insider selling into the rally, notices of foreclosure in prime loans escalating, massive overcapacity in manufacturing, commercial real estate…, household savings rising, household income dropping, energy prices rising, pension funds obliterate, 19 states rushing up behind California at the edge of the debt/bankruptcy cliff, banks… There really hasn’t been much good news, it has simply been spun well with memories of recent recessions giving people hope this will be the same.

I still think between now and the end of the year the Dow heads towards 6000 looking for the bottom, let’s hope it finds it, and then levels out for a year or two. If it doesn’t, it continues to rally, it will be because TPTB were able to blow up another bubble and then god help us when it pops.

]]> By: Stephen Littau http://www.thelibertypapers.org/2009/06/26/where-is-this-rally-headed/#comment-68031 Stephen Littau Fri, 26 Jun 2009 22:48:36 +0000 http://www.thelibertypapers.org/?p=6243#comment-68031 Brad, if you really want to be scared shitless, take a look at this link http://www.usdebtclock.org/

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