The Financial Media Is Talking Out Of Its Ass--The REAL Reason The Market Went Up 500 Points

The real reason the market shot up 500 points today

The financial media is talking out of its a**. The real reason for the huge rally in the markets today isn't because of some political reason, its for a very basic, fundamental reason that can be easily explained:
the taxpayer is going to be taking on all the risk for the entire financial system.

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Now, with the new FDIC ruling, its the taxpayer that takes the hit instead of the bank.

Normally, if you are a bank and you make a loan to another bank, and that bank goes bankrupt, then the bank takes a hit.

Or to put it another way, the taxpayer is now backing the entire financial system.

more at:
http://www.dailykos.com/storyonly/2008/11/21/184157/06/241/664871

...but I've had CNBC, CNN and MSNBC on.

I am stunned at the backwash that Americans are getting--that is packaged in the form
of financial news.

It is stunning.

No matter the average person has no idea that a horrendous crash is on the horizon.

I actually saw three different commentators today, one on EACH of the above mentioned networks--discuss
how we're "not officially in a recession yet."

These liars are trying to keep everyone complacent and ignorant.

I never realized how egregious the cover up was--until I only listened to the MSN for a couple of days.

Those financial reporters do such a great job of kow towing to the corporate masters. It really is
amazing that people rely on MSM reporters for financial information, and when to buy/sell.

I'm afraid for our country and our people--even more now.

Like, wow, everyone I talk to seems to know it's all about to hit the wall. This is incredible.

(At least, it's not a bad thing unless you are a free market absolutist or a corporations-are-evil-and-must-be-destroyed-regardless-of-the-consequences-to-main-street type).

When banks are irrationally hoarding all of their money because they are afraid anyone they lend to will go belly up, the government needs to step in and temporarily guarantee inter-bank loans. This was actually announced over a month ago (though not formally approved).

As for the market rally today, it definately had something to do with Obama's appointment, because the market surged within minutes of that announcement. Maybe the extension of the rally had something to do with the inter-bank loan guarantee though.

:grr:

:argh:

We need to embrace political propaganda when we can get it.

Damn, and I didn't even get a call thanking me.