Wall Street Is One Sick Puppy – Thanks To Even Sicker Central Banks

Wednesday, October 22, 2014
By Paul Martin

by David Stockman via Contra Corner blog
ZeroHedge.com
10/22/2014

Last Wednesday the markets plunged on a vague recognition that the central bank promoted recovery story might not be on the level. But that tremor didn’t last long. Right on cue the next day, one of the very dimmest Fed heads – James Dullard of St Louis – mumbled incoherently about a possible QE extension, causing the robo-traders to erupt with buy orders. And its no different anywhere else in the central bank besotted financial markets around the world. Everywhere state action, not business enterprise, is believed to be the source of wealth creation – at least the stock market’s paper wealth version and even if for just a few more hours or days. The job of the monetary politburo is apparently to sift noise out of the in-coming data noise – even when it is a feedback loop from the Fed’s own manipulation and interventions.

The Rest…HERE

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