Jesse: The US Bull Market in Smoke, Mirrors and Gullible Investors
Another great post by Jesse at Jesse's Café Américain
The US Bull Market in Smoke, Mirrors and Gullible Investors
We have given quite a bit of coverage to the somewhat 'thin' veneer of recovery being spun by misleading government econmic statistics in the US.
And we have certainly noted the almost blatant manipulation in many US markets, including stocks and commodities where the banks and hedge funds have been pushing prices around, sometimes with the help of the government, in a disgraceful repudiation of any notion of reform.
Thanks to the Tylers at ZeroHedge we have two very nice charts to present the case that the recent continuation of the US stock market rally is due in large part to a Ponzi-like price manipulation largely in the after hours markets when trading is thin.
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