by Chris
I see this as obvious attempts by TPTB to blunt any selling and maybe even ignite the “animal spirits” (an odd thing to call software programs internal parameter settings, but there you have it) to get things moving in the “right” direction again, which is up naturally.
Coming out with instant headlines to support this are outfits like MarketWatch, which was perhaps unintentionally snarky with this one:
Heh heh. Even the most casual of observers knows that the Chinese market went up due to official intervention from Team China(tm) the national players market manipulators.
So does the Dow “aim to follow China?” Yep, as long as you think they are both subject to the steady interventions of the authorities.
The really funny part, I guess, is that the China bounce came on the heels of a very disappointing report on Chinese growth. Yes, it was a robust 6.5% (if you can believe that…it was probably a lot lower to be honest) but that was a big downward slant from both prior levels and from the hoped-for official targets.
Finally, I love the continued “programming” by the media. Look at that language will you? The “equity benchmarks assuage dread about waning global growth.”
Really? We have to dread waning growth? Rising equities assuage that dread? So then rising equities are the cure for waning growth?
This is all so backwards and upside down I hardly know where to begin.