Terrible Economic News, Still Markets Are Pushed Higher And Gold Is Manipulated Down

A typical day on the corrupt Wall Street with terrible news shrugged off by media, complacent or ignorant or plain stupid investors continuing to buy the bubble stock market as they see it going up. They do not ask or look to see that the way the markets are kept up is by manipulators through the futures. What do they think will happen when these corrupt people cannot hold it any longer or decide it is time to make some profits on the downside? Did these people already forget 2008-2009? Worse is going to happen with the next crisis and Goldman and the Fed will not be able to manipulate markets up like they did in 2009 again.

Stupidity continues to loom all around. Just this morning JP Morgan steel analyst came out saying that steel prices should continue to go up even though we are only a fourth of the way away from the peak of the 2007-2008 bubble, which was 2-3 times the normal levels and looks ridiculous on a graph as did the prices of internet companies. Tangible assets are good, but production related metals are not going to do well when the economy is still in the crapper and will get in even worse shape. Steel is not a money substitute like gold and hence it makes no sense for it to get to its 2007-2008 bubble levels without pure gambling and speculation and stupidity. Demand does not support the prices. Steel stocks are huge shorts and the story will end really bad for the foolish longs.

Here is a chart of the blatant attack on gold as it is getting too high for the taste of the major banks and the Fed.