Monday, August 1, 2011

Walled Street Vs. the World

First, the Dow hit 12k on the head.  Now we will see it consolidate for the next few days, before moving back to the top of its range.  Gold looks bullish, silver bounced off of support, and platinum is catching up to her sisters two.  The dollar had a dead "dollar" bounce today, if it fails to rally from here, which I expect it too.  I gave it the benefit of the doubt a few weeks ago, for one last rally, and it failed to move.  The dollar is going lower from here on out.

Everything is in line for QE 3, especially with all of the horrid economic news coming out.  Oh, and it looks like the Muni bond massacre has begun, with a Rhode Island town declaring bankruptcy.

You would think Congress would have listened to America when the people voiced their opposition to the bailouts of '08, but you would have thought that the people would have stayed strong and marched on DC as well.  Walled Street does have the world by the ears, but they have empty threats.  Congress thinks it is at the whim of the oilgarchs, but it is the people of the world that have the strength.  If the people ever turn on the system, it will end quick.

The people, unfortunately, are complacent, and pretend not to know what is happening to finance, although in the back of their minds they know all to well.  Soon the world of finance will spin so that the lower and middle classes become one, and they will be left with little to no power considering what they once had.  It will be a sad day, but one in which people will wake up.  At that point it will take a concerted effort to change things.  The fate of humanity is in its own hands.

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