Crisis Averted; You May Now Resume Normalcy; 24 Is On Tonight!
News over the weekend of an unprecedented bailout of the European Union and their unsustainable debt levels has markets surging this morning.
My question becomes, if printing a trillion dollars over the weekend is a good thing and stocks are up, why don’t we do it every weekend? Why not print a trillion every weekend? Surely, we could hit 100,000 on the Dow before long.
Zero Hedge article sums this up well:
The race to the currency devaluation bottom is now in its final lap. And gold is the only alternative to the now imminent collapse of the fiat system: the world had a chance to take writedowns on losses, punish those who took risk and failed, and refused to do so. There is now no risk left, but it only means that eventually all the risk will come back and lead all capital markets to zero. The result will be the end of Keynesian economics as we know it. Do not trade in this broken market, do not hold your money in a bank as they are all now one hour away from a terminal bank run – buy and hold real, FASB mark-to-myth independent assets.
That’s right. Everything is good. Please go back to your regularly scheduled programming. For me, 24 is on tonight.