It is important to note that the Turner CrossOver Oscillator gave a bottom signal last month, about 3 weeks before the S&P 500 (green shaded area) began to reverse trend and move higher. The Short Sell (red) line indicates that the market continues to be oversold, but is rapidly becoming less so.
Personally, I am not nearly as cocky and self-assured as the Elves and told them so. They reminded me that 'squinky' is dead, as evidenced by the Oklahoma State Cowboy's win over Texas yesterday, and that I should quit worrying about squinky slapping us around with another 'gotcha' head-fake. I often wonder if the Elves have all the right synapses firing at the right time, but since there is nothing worse than a mad, vindictive Elf, I try to keep those thoughts to myself.
Wall Street Protesters' Conundrum
"I need a high-paying job that I can't get because businesses are not hiring... therefore, I choose to attack businesses so that they will go out of business... so I can get a job!"
Seriously? Can they be that stupid? With our government-run education and propaganda-based state controlled media, I guess we shouldn't be overly surprised that there is enough disinformation being shoved at the gullible and/or naive, that this sort of thing can happen. But, then, I have heard "You can't fix stupid!"
I say... No more bail-outs... not for anyone or anything (other than those who for mental or physical conditions cannot care for themselves). No more TARP's... No more so-called stimulus packages... No more unlimited unemployment subsidies... No more IRS... No more farmer subsidies... No more corporate subsidies... No more Solyndra's... No more giving money to anyone for anything (other than that which has been earned) until we get our fiscal house in order. Everyone who can (notice I said, "can"... not just those are the biggest wealth producers) should be paying taxes... Whether it's 9-9-9 or the (preferable) "Flat Tax"... we need to let the free market function within broad constraints and all but the poorest among us should be a taxpayer. The more you make, the more you should pay, but the percentage rate should be the same for all. And, for you progressives out there... the Fair Tax is a progressive tax... 10% of a million dollars is certainly a LOT more tax than 10% of $20,000. (Note: I full-well recognize that a "progressive tax RATE" has been defined as a tax 'rate' that gets progressively larger, the more money you make. I just don't happen to agree that is the ONLY definition of progressive tax.) If I could do anything, I would provide tax incentives to any business that hires... in other words, I would 'LOWER' the tax rates on anyone and anything that actually produces jobs! But, to stay within the concept of true reform, I am willing to exchange ALL subsidies and ALL tax breaks and ALL loopholes for everyone and every company, in exchange for a simple, one page tax form.
Of course, I am over simplifying, but you get the idea. Thousands of pages of tax code only leads to abuse and significant increases in compliance costs.
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