This is the most obnoxious market I have ever seen. People are like sheep trumpeting everything the dear and great leader wants trumpeted. Ever since gold began to unwind in the 2011 kick off to the Euro crisis, market participants have been following media driven hysteria like schools of fish following the lead fish. Or is it flocks of birds?
Anyway, so somebody writes in the WSJ that the Fed is mulling its exit strategy and everybody gets their panties in a bunch. Gold bugs of course scatter and the stock market takes a ding. I used to love this market, even (or especially) when it was very difficult. But now, I have contempt for the artifice that seems to direct its every move. Don’t people see behind the curtain how desperate these people are?
Things are so well scripted it would be funny if it were not so pathetic. Just wait until they exit, if they have the balls. What do you think is going to happen to the T bond market? Maybe the Fed exit will come in concert with the nightmare scenario where IRA holders are directed to own T bonds for the national interest (pun intended) and the greater good. Pathetic.
