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July 27, 2009 at 06:22 AM
Hold on to your wallets, folks.
The stock market has been on a winning streak and Wall Street is starting to feel its oats once again. Yes, you guessed it, those same people who brought us the biggest mess since the Depression because they convinced us that markets could defy gravity are again banging the drum with the message that the seeds of a recovery are starting to bloom.
Really?
At this point the level of skepticism about anything Wall Street says should be so high that any positive remark sets off Geiger-counter-like beeping. Wall Streeters made tons of money after all by getting the maximum number of suckers to buy into the deals and bargains and can’t-lose situations they created, many times out of bubble soap.
They’re paid to highlight the seams of gold among the dross, no matter how much dross there is. Need I tell you that dross is everywhere and any gold to be found is fool’s gold?
