These People Are on Crack

Saturday, January 31, 2009
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The Bulls at the Bull Rush, CNBC, are excited about a projection for a 3,000 point rally in the 2nd quarter of 2009. It’s so easy to pin the tail on the Dow donkey, and if you hit, you are a prescient genius. If you don’t, people just forget your prophecy and write it off as just one more trivial prediction among a thousand. Here’s one of many reasons why the stock market is a game of wearing a blindfold and throwing a dart at the board. The game is called “let’s guess the level of intervention in the economy and make bets on who will directly benefit from the spending and politically-granted favors and contracts.”

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