(From THIS Richard Russell...who has been writing and correctly predicting market swings for over 50 years. One might also glean understanding from his website articles HERE...)
After reading some recent quotes and descriptions about Mr Russell, I have decided to forward some of his contemporary thoughts on where our markets are at...and the mistakes the USA government is making in leading our people down the WRONG path of correction.
There are not many opinions with the depth of experience and knowledge behind them as those of Richard Russell.
He’s been studying “the language of the markets” for more than half a century.
“The primary trend is down,” Russell told a select group of friends and investment professionals recently.
In the end, Russell believes that no matter what Obama and Bernanke do, the primary trend will have its way. The bear market will continue until it “has fully expressed itself.”
“What would you do if you were suddenly in a position of power in the United States?” asked one of the guests at the recent gathering.
“Nothing,” replied Russell.
“I’d do nothing. I’d let it happen. I’d let the bear market do its work.”
But that’s not what President Obama – who’s just over half Russell’s age – is doing.
Obama wants the government to act. And this means tax, print, spend and legislate.
Prop up failed automakers. Stuff money into zombie banks. ‘Stimulate’ with pork-laden spending bills.
This year’s first ‘stimulus’ plan has conspicuously failed to create the millions of jobs the president promised. Reports indicate that the White House is now working on yet another stimulus’ to spend even more money out of an empty pocket.
Of course, Obama plans to print trillions of fresh new dollar bills to pay for it all.
Obama doesn’t remember the Great Depression. Richard Russell does.
We should start listening more to people like Richard Russell versus CNN, Bloomberg, FOX and other networks who exist almost solely to support the status quo New World Order of business and economics.
The "new" Liberal thinking is that governments can control the carnage that are sometimes caused by pure market conditions. The USA has been trying to do this since before Franklin Roosevelt's "new deal"...which was supposed to be a "temporary" emergency measure to protect the USA from the devastation and effects of the "Great Depression". While many of its measures have "worked" for over 70 years...we are just now starting to wake up to the realization of the cost and what kind of society and financial system this has brought into effect.
There are now very few fundamental FACTS that drive the world markets. Markets are now totally manipulated by emotion...centralized control of money systems...government bailouts and manipulations out of the public dole...and basically a "few" bankers and politicians in the world controlling and manipulating most of the world markets.
There are many examples of hording taking place...whether it be food or oil...and there are many examples of redistribution based on the failings of these manipulated markets to naturally perform and generate competition. Competition has now become a "bad" thing...and corporations and governments now conspire together to capture and control markets for their own self interests. THIS is what is killing capitalism...and yet some of these same players in the game are DOWNING capitalism as an old or unfair theory for economic development. Let us realize that capitalism truly is dangerous...for those who control markets and DON'T want competition.
I have come to the realization that the rest of my life will be spent fighting an uphill battle against the tyrants and controllers of the economic New World Order...which seeks to manipulate everybody using the basic theory of "for the common good". These people are TRULY evil.