Predictably the Nikkei is up after Wall Street has a plus side day.
The only thing this proves is that the Japanese market is equally as chaotic and volatile as Wall Street and that Japanese investors don't know what the hell they are doing either.
Seriously now, where is the coherence in the market? Somebody, say Buffet, takes the microphone and says the recession is going to last for the next three decades. Consequently the market falls and all kinds of value is wiped out. People are "pessimistic." The next day, the Secretary of the Treasury says banks are fully capitalized and its only some itty bitty bad mortgage debt that's "clogging the system." Consequently the market goes ape. People are "optimistic."
This is not an economic recovery. This is a bunch of people searching for something that is no longer in existence, in the black expanse of deep space with a three cent flashlight, no battery, and prehistoric cave maps.
Reuters: Nikkei rises 0.8 pct after Wall St rebound on banks
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2 comments:
It's all the same bad actors doing what they do best lie, scam, conceal, and then call it a day and do it all over again. Wash, Rinse and Repeat. Nobody with half a brain believes anything coming out of Wall St. anymore.
I know. It may be time to start blogging about pasta and pastries.
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