WALL STREET PROFIT NEWS
Financial News and Editorial Source.
Back in 1907 the great J. Piermont Morgan, his merry band of bankers and crony capitalists assumed the role of today's Central Bank(s). By hook and by crook they managed to stabilized the markets, at least until 1929 that is! By that time, the great Piermont was no longer walking among the living! Flash forward to today and our current Plunge Protection Team (the US-Fed/Treasury, their global counterparts and the modern crony capitalists) have so far done the same thing. Why reinvent the wheel?
One difference between now and then is as the orthodox wave experts believe markets topped-out in 1999 in real terms after a 100 Year Super Bull Market Cycle, when back in 1907 the Bull was still just a just a calf with new little horns. Since 1999 today's Plunge Protection Team have worked hard to pump the market or re-inflate asset prices as the Austrian Economic thinkers will tell you. They flood the market with fiat paper and pull on their magic interest rate levers, like the Wiz. in the Wizard of Oz with lots of drastic unintended consequences. We all can remember in Oz, it only took a little dog to pull the curtain away and a little girl to slap the Wizards face.
On this point the Austrian's, the London School thinkers and the Monetarists all agree and will all say that the debt is the debt is the debt. The Plunge Protection Team can wiggle and squirm all they want but in the end, the debts will come due. The question is will when will a little dog reveal the weak old man for whom he really is? And in today's economic terms, maybe debts do not have to be paid on time but the bill will come due! The government has made it clear that for whom does the bell really toll but for me and for you!