Karma & the Plunge

All the technical charts say the stock market is about to plunge, the Elliot Wave theorists are calling it all the way from the current 10,900 to just 300. If it fell anywhere near 300 that would be the end of Wall Street.

The market is held up by phony U.S. government data that massages figure to the upside, but the reality is very different, there is variance between what is true and what is shown. For example unemployment in the US is officially 9.9% but real unemployment is about 18%. A lot of people are hurting and a record number are losing their homes.

Walls Street has stolen trillions from investors bending the fact and hyping stocks, so if it finally falls that would be the drama of its karma.

The plunge is very close but I don’t know exactly when. If you are a sophisticated investor you could short the market and hold on if it moves up a bit before it turns the other way and plops out of bed.

All the Grand Lies I wrote about over the years are bought to book in the end. Over the last month or so I’ve been urgently suggesting you get hold of your pension if you have one, and cash out of stocks and buy gold instead, pensions are going to melt like ice cream in a heat wave.

The baby boomers are going broke. Sad but true.

Paul Volker, the former chairman of the Federal Reserve said today he is worried about the Eurozone cracking up and the euro has dropped from 1.5o84 to the dollar in December the 1.2442 today as I write. Such a large drop is not normal.

It is all so interesting there’s a karma to the way it plays out. For decades the lies prevailed but suddenly that may not be the case anymore. (sw)