This is hilarious. (Somehow missed it before.)
Just like 2007, 2000, 1987…
Courtesy of Michael Panzner at Financial Armageddon
To me, the following excerpt from a post at The Daily Bell, "Happy Days Are Here Again?" sums up the sort of thinking we’ve seen before — you know, in late-2007, early-2000, the summer of 1987…
It’s BULLISH No Matter What! …
The price of oil is rising – BULLISH! More profits for the energy companies, and more investments in "clean energy."
Most of the new jobs created in March were part-time or temporary – BULLISH! Since the economy has turned the corner full-time job offers are practically a sure thing.
But didn’t wages go down too? – BULLISH! Revenues – Costs = Profits!
41 states have revenue shortfalls – BULLISH! Various states have always complained about shortfalls. It’s another sign that things are getting back to normal.
8 million people are still unemployed – BULLISH! That’s 8 million spenders, not savers.
Interest rates are rising – BULLISH! Yet another sign that the economy is getting stronger.
Stocks may be going up but on very low volume – BULLISH! That means the "dumb money" hasn’t even bought into this rally yet.
People have a lot of concerns and uncertainty about the future – BULLISH! Not until the "wall of worry" ends will this party be over.
So much new liquidity will cause inflation – BULLISH! Stocks are one of the best hedges against inflation.
The wars in Iraq and Afghanistan are bankrupting us – BULLISH! Don’t get mad, get even. Debit the Treasury and Credit the defense companies.
Inflation in China is picking up – BULLISH! That should dampen any bubbles that some people worry about.
Gold is going up in price – BULLISH! This is a broad-based rally.
Wait, maybe gold is going down – BULLISH! That means economic fears are dissipating.
Actually the gold price seems to be consolidating and moving sideways – BULLISH! A sell off or rally would mean things are overheating.
Iran seems determined to develop it’s nuclear program – BULLISH! More nuclear power plants means less demand on oil which means lower energy costs which means more profits.
Israel may be forced to handle Iran themselves militarily – BULLISH! That will kick-start the construction industry when we rebuild both sides.
The Health Insurance Reform bill is an abomination – BULLISH! If insurance premiums rise there will be subsidies; if doctors check out they’ll be replaced with cheap foreign ones; if care is rationed then costs will be controlled and profits ensured.
And now the student loan programs are nationalized – BULLISH! Good riddance for the banks. Now the government can garnish wages and lower the deficit.
The markets are being purposely manipulated with government money – BULLISH! What’s not to like? That means the market ain’t going down no matter what.
Big Media is spewing propaganda about the economy – BULLISH! Perception is reality. People only know what they’re taught. Advertising works.
Greece may default – BULLISH! Greek bond holders will make up their loses in the stock market.
Japan is a bug in search of a windshield – BULLISH! Just imagine how much more deficit spending we need to do to beat them.
The Euro is getting weaker – BULLISH! King dollar is back.
A $400+ trillion financial mine field of derivatives are set to go off – BULLISH! Let’s start the rumor that if the stock market tanks we’ll all be dead.
Click here to read the rest.
(Hat tip to Zero Hedge.)
