This Stock Market Rally is FAKE: Sorry folks
5% more laying people off than hiring. The biggest gap in quite sometime.
Consumer Spending has taken a massive -16 dollars on the 3 day average. That's gigantic!
The rally is false! the rally is false! this rally is false! Even Varchild was moved by it to declare himself strongly bullish.
But, I am not declaring myself Strongly Bearish!
Alstry's 9.09 Stock Market Collapse is not off the table folks! Not by any stretch.
The following are a massive set of economic headwinds that the EUPHORIC Media is refusing to report:
1) There is STILL a global slowdown. No one is claiming anything concerning Growth except perhaps some parts of Asia.... Maybe India...Korea..China....Maybe.... But even then the growth is a meager 3% or less. Everywhere else is absolutely still slowing down.
2) Today the Minimum Wage just went up. What does this mean? Hotels, Barber Shops, Dry Cleaners, Laundry Mats, Motels, and a whole host of other small businesses that can not afford to pay $7.25 an hour will start slashing HOURS and perhaps WORKERS over this.
3) Airlines have slashed THOUSANDS of jobs this past week. Of which none of that has yet to be fatored into any unemployment benefit roll numbers.
4) States are starting to be unable to pay out Unemployment Benefits... When that money dries out VIOLENCE and CRIME will escalate beyond belief. Already in Michigan people have been going around stealing Tires off of Vehicles in Metro Detroit just to get some money.
5) If HEALTH CARE or CAP AND TAX pass and become law.... Unemployment will skyrocket perhaps DOUBLING within 1 year of passage.
I just heard a Radio Commercial today that started off saying, "In Today's Recovering Economy..."
What the heck???? What kind of junk is this???? WE ARE MOST CERTAINLY not out of the woods by far.