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This is your stock market, on drugs

Posted by Jeff (ILoveCapitalism) at 3:15 pm - March 20, 2013.
Filed under: Depression 2.0,Economy

As a GP commentor once put it, “The stock market relies on confidence, and the stock market has done incredibly well since Obama took over. How do you explain that?”

A picture is worth a thousand words:

But here’s the summary. Fed pumping gobs of money into Wall Street? Market drifts upward. Fed stops pumping? Market doesn’t. The so-called “confidence” is drug-induced.

Hat tip: Zero Hedge

UPDATE: This is your town, on food stamps. Once per month, the town of Woonsocket, RI springs to life as residents receive (and spend) their benefits. The Obama administration has more people on food stamps than any in U.S. history:

Spending on SNAP has doubled in the past four years and tripled in the past decade, surpassing $78 billion last year. A record 47 million Americans receive the benefit — including 13,752 in Woonsocket, one-third of the town’s population…

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9 Comments

  1. Congratulations…

    Our leaders in Finance and Government have replaced an equity-free market with a co-dependent “investment” casino and soup-kitchen. Shorts and puts, derivatives, food stamps and one-sided entitlements…a toxic stew pitting the Top-One-Percenters and the Underclass…against the Wage-earning Middle-class and the Small-Business Class.

    Both-ends of the Bell Curved allied against the Center…and that’s a recipe for Revolution.

    Comment by Ted B. (Charging Rhino) — March 20, 2013 @ 10:47 pm - March 20, 2013

  2. Yup. It’s no accident that so many at Occupy Wall Street were rich, white and educated.

    Comment by ILoveCapitalism — March 20, 2013 @ 11:38 pm - March 20, 2013

  3. […] is with thanks to Gay Patriot and the graph from Zero Hedge) But here’s the summary. Fed pumping gobs of money into Wall […]

    Pingback by Religio-Political Talk (RPT) The Fed Building a Collapse — March 21, 2013 @ 9:15 am - March 21, 2013

  4. Think the soup kitchen metaphor is spot on.

    Our government is keeping the stock market going by feeding cash into the system-it isn’t real and at some point it is going to collapse.

    Obama is bad for the economy-he can’t even figure out what types of energery to invest in-instead he throws money at green jobs cronies, while stalling out the Keystone Pipeline (which btw would also provide jobs) and reducing drilling on Federal lands and all sorts of other things.

    Comment by Just Me — March 21, 2013 @ 10:29 am - March 21, 2013

  5. Our government is keeping the stock market going by feeding cash into the system-it isn’t real and at some point it is going to collapse.

    Well… Cash (the dollar) could still collapse first. Maybe. We’ll see.

    Comment by Jeff (ILoveCapitalism) — March 21, 2013 @ 10:35 am - March 21, 2013

  6. Well the truth is something is going to collapse-because what is happening now isn’t sustainable.

    Obama, the self declared smartest man in the room, apparently skipped economics in college.

    Comment by Just Me — March 21, 2013 @ 11:53 am - March 21, 2013

  7. Where are the Wind-turbines?
    Where are the roof-mounted solar arrays?
    Where are the Electric and Hybrid cars?
    What happened to the Hydrogen Economy?
    . . .Oh, that’s right. Obama got elected—and re-elected.

    Comment by Ted B. (Charging Rhino) — March 21, 2013 @ 1:42 pm - March 21, 2013

  8. All this money with no place to go but Wall Street.

    At work yesterday, the CFO convened a quick meeting to let us know that, last week, our health insurance carrier informed them of a substantial rate increase effective April 1 (the first Obamacare shoe to drop).

    We’re a small company (under 100) and employe blue collar workers. In an effort to lessen the impact, the company is now offering two plans: the current benefit level and a plan with higher deductibles and co-pays. Both plans cost more than before… the low benefit plan about 10 percent higher; the higher (what we have right now) plan about 30 percent. My guess is that the company picks up between 70-80 percent of the premiums.

    The shocker was the new rate for the family plan: couple plus kid(s): over $1000/month. That’s why Medicaid is exploding. Imagine a $20/hour worker with a wife that works part-time in order to take are of their one kid. The insurance premium can approach 50 percent of take-home.

    At least there’s no inflation.

    Comment by KCRob — March 21, 2013 @ 6:34 pm - March 21, 2013

  9. At this rate, the United States will become an all-encompassing Universal Health Assurance program….with a military.

    Comment by Ted B. (Charging Rhino) — March 21, 2013 @ 9:39 pm - March 21, 2013

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