Market comments for March 31st, 2011

I was listening to Art Cashin, of UBS Financial Services, on CNBC this morning, and he said that if we just had a few of the recent upheavals of Governments in the Middle East or concerns over a default of governments like Greece or Portugal, or an Earthquake of magnitude 9.0 in Japan followed by a tsunami and then a Nuclear Power Plant meltdown, any one of these normally would have caused the stock market to have tanked with at least a 10% correction. That is an interesting thought to ponder as it has been Fed Chairman Ben Bernanke who has single handedly kept the stock market artificially up at these lofty levels. Listen to Art Cashin below.

It is extremely difficult to time the market normally but with Bernanke using the printing presses of the Federal government, it is nearly impossible to predict the stock market moves. This is not good for the long run because when there is a disconnect from reality, there will be an unforeseen negative impact to our country, which will be much larger than any stock market drop would cause, That is where we're headed and there appears no way to prevent it. As a close friend of mine has stated to me many times, "We are all finished!" I would add that we are not now built on the Free Enterprise System, but rather a manipulated, controlled government which protects the wealthiest of us and doesn't care at all about the Middle Class or worse, the Poor and no better than that.

It's the end of the 1st quarter at the close of the market today. But tomorrow we will hear the Unemployment Rate numbers which doesn't count all of our unemployed. Most expect the number will "look" better. It's April Fool's Day too and if you believe the numbers the government discloses, then you too are a fool! We seem to be a gullible populace, aren't we. Just look at all the Birther's in the Republican Party. :))

What a shame!

I know you think I am referring to Egypt, but I'm not. Although there is much to be thinking about when it comes to the events in Egypt. No, I am talking about the end of the Free Enterprise system by the Fed rigging and inflating the stock market artificially, where there is no connection to the reality of the real economy.

Look around you. See how many businesses have their office spaces For Lease. Look around you and look at the Food banks and the unprecedented demand of the new poor who were once the Middle Class strength of this country. Look at the compromises the President made to allow for tax cuts for the wealthiest 1% of the population causing almost a Trillion dollars of more debt to the mountain of debt which has piled up over the last 30 years since Reagan. Yes, that's right since Reagan, since we are now reminded that yesterday would have been his 100th Birthday.

Yes the stock market is rising and many believe they are wealthier and maybe they are temporarily, but the day of reckoning is ahead of us for no good reason other than the fear of what would happen of the Fed didn't pump up stocks.

What a shame!