“Markets Spasm” Rally
August 9th, 2011It's that time
Via: AP:
Stocks are rising at the closing of trading after the Federal Reserve said it has discussed policy moves it can make to spur the economy. The Fed also said growth has been slower than expected.
The Dow Jones industrial average is closing up 429 points, or 4 percent, to 11,239.77.
Stocks rallied in the last hour of trading. Stocks initially fell after the Fed made its statement, which included a pledge to keep interest rates at their record low until at least the middle of 2013.
Posted in Economy | Top Of Page
It’s quite disgusting to me in some ways that people invest in stocks when I read this (from the article):
“He expects stocks to continue to rally because a slow-growing U.S. economy won’t harm corporate profits. As a whole, the companies in the Standard & Poor’s 500 index reap more than half their revenue overseas. What’s more, companies have already cut costs significantly, have hoarded cash and squeezed more production out of workers. Even as the U.S. economy has slowed, the S&P 500 as a whole was expected to earn record profits this year.”
So what does this mean? I think it means SCREW YOU people. We have our nice grey suits, we drive in limos, we make the people in China or other off shore “havens of American profit” sweat their buns off. That’s where we earn our revenue. Morons.
Whenever the stock market goes through gyrations like this I think of my Dad. Born in 1910. He would roll over in his grave if he knew I had one dime invested in corporations that shipped job overseas. My god. Why would anyone invest their American dollars, for what they are worth in this great big swindle? Invest your money so corporations make more profits? But don’t seem to give a shit about the people? And I think corporations are these days, feeling fine about screwing all humans across the planet up the @#s.
Something is wrong with this picture. So wrong. I guess I’m hoping that this glorified, profiteering corporatism of Profits over People is meeting its karma head on this week and in the months to come.
I say starve the beast. Kill the corporation by divesting of stocks if the corporation doesn’t serve mankind and puts profit ahead of everything else. The corporations earning profits offshore are hurting Americans AND the “offshore entity.” Think that Chinese, Taiwanese, or now the Haitian wants to work in a sweat shop at penniless wages for the corporation? Give me an effing break.
Its absurd, at least to me, that anyone would put money in the stock market. But that’s just me.
I hope these stuffed suits get their comeuppance. But that can only happen I think when investors finally figure out they are feeding the greed, the gorging, the frenzy, the profit that corporations seem to be lusting for above all else these days. What a shame.
My Father used to by stocks on a downturn. He’d be ashamed to invest one cent into what a share in a corporation means these days.
Shamed.
He’d be looking elsewhere, as I will. Thinkng of adding a few acres and getting some more chickens and goats. I want to feed myself and the peoples.