by Rick Ackerman
We were out with a prediction of a 600-point Dow rally Monday night, so yesterday’s 349-point downpayment was hardly a surprise. Even so, some will shake their heads in disbelief, unable to comprehend how huge rallies can occur for no good reason. This one, like so many others, was ginned up by cheats and con-artists on Wall Street who found support in phony economic news concocted by bureaucratic liars and hyped by a mainstream media with a fourth-grader’s understanding of basic economics.
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ZeroHedge culled two headlines that explained the whole thing: Wall Street Gains as Weak Data Sours Stimulus Hopes; and, Wall Street Surges as Data Points to Economic Recovery. It’s difficult to imagine these headlines appearing on the same day, but they did. No matter. On Wall Street, and in the editorial rooms, ALL news is bullish, and when the headlines flatly contradict each other, that is hardly reason for concern or doubt.