Greater Fools Storm the Casino

by David Stockman
David Stockman’s Contra Corner

Since last Friday’s phony jobs report the casino has become so unhinged that analysis is beside the point. A picture worth an eventual thousand point drop on the S&P 500 will do the job.

[…] While we are waiting it might be wondered, however, whether nearly two decades of central bank financial repression have not merely destroyed honest price discovery on Wall Street. Perhaps it has actually extinguished brain function entirely among the corporal’s guard of carbon units that remain.

Yes, it is not surprising at all that the robo-machines are now gunning for the 2200 point on the S&P 500 charts. That’s what they do.

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