Published on Zero Hedge (http://www.zerohedge.com) By Tyler Durden Last week we showed the cognitive dissonance , nurtured by a liquidity-providing Fed, that has growth this year between stocks and economic confidence. In the last week, fed by a diet of DC headlines, Gallup’s economic confidence index  has collapsed. In fact, this is the worst 3-week plunge since Lehman – worse than during the…
by click4silver • • 0 Comments
NOTE: Commentary by Tyler Durden at ZeroHedge
CNBC just aired a fascinating segment that pitted anchors Mandy Drury and Brian Sullivan (squarely in the markets-are-going-up-and-the-world-must-be-rosy camp) against a more skeptical (“it’s all short-covering” – and he’s right at the margin) Herb Greenberg and an awfully fact-based reality agent – Peter Boockvar.
The entire 5 minutes were a perfect reflection of the battle in the markets of the last few years – that of market wisdom and the facts versus the blind optimistic ignorance of watching (and trusting) a ‘market’ number (in this case the Dow Jones Industrial Average Index) rise day after day and not caring why – until – as Peter Boockvar so eloquently notes you have your 401(k) cut in half twice in a decade.
Well worth taking the time to witness the cognitive dissonance of believing the market strength is unrelated to the Fed and yet a Fed unable to Taper even a few billion for fear of repercussions… as Boockvar notes, “there is 0% chance this ends well.”
Video Source: CNBC