Are those who are buying into this stock market have their heads in the sand or are they just suicidal?- Banks are failing every week and some really big ones. FDIC insurance fund is depleted and there are rumors of a bank holiday being called in September.
- The market has risen 50% from March lows, thats never happened without a significant increase in GDP and corporate earnings.
- The U.S. is running a $1.8 trillion deficit. 2010 should be $2 trillion.
- The US dollar is on life support
- Every month a new record in home foreclosures is announced
- Real unemployment U-6 is almost 17% and growing
- Retail sales are horrible.
- China's market is down almost 15% in a few weeks (a leading indicator of western markets)
- The Fed is monetizing the debt and trying to hide it.
- Most technical indicators are extremely overbought.
- September is the worst month of the year for stocks on average.
- The political environment is combustible.
What am I missing here? Nothing I suspect, just the late comers to the party who will be fleeced again.-Lou
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