Beware When the Bear Turns Mellow!

We warned you that the bear would assume any guise necessary to mask his goal of savaging the multitude of investors as a possible bear market unfolds. Lo, along comes a story blithely helpful to this purpose in the Wall Street Journal, a mighty instrument of propaganda that can always be counted on to do the bear’s most important work: lubricating the victims for the inevitable coup de cul. ‘U. S. Stock Swings Don’t Shake Investors,’ proclaimed a weekend Journal headline so pregnant with hubris it practically begs for comeuppance. The words ring true if, by ‘investors,’ one means the flim-flammers who rake in huge fees for throwing Other People’s Money at egregiously overpriced assets. It is predictable that they will remain as bullish as ever, every step of the way, no matter what the stock market does – even if the Dow Industrials falls to 10,000. For now, though, count on these shysters, allied with the central bank and their lackeys in the news media, to help hold stocks buoyant until most of us have forgotten exactly what it was we were worried about when equity shares around the world plummeted for a couple of days last week. ‘Nothing to see here, folk. Just keep moving.’

This post was published at Rick Ackerman on Sunday, August 30.