Not Catching the Bid

Those of you following such things know that the stock market has been habitually setting new highs this year. These culminating from a relentless ascent since inception of the Federal Reserve’s Quantitative Easing program. The trillions conjured to purchase treasuries and underwater mortgage-backed securities have represented an enormous transfer of wealth from dollar holders to institutional stock and bond holders. In which group are you, dear reader?

Interestingly, there is a great deal of anecdotal evidence to answer that question. Nielson ratings on the CNBC financial and business network normally trend in sympathy with market fortunes. And yet with new highs established daily, CNBC is cratering.

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And it is cratering because the multi-charred retail investor no longer trusts the institution of Wall Street–regardless of how enticing its present gyrations. Main Street is coming to understand that swollen market returns are likely nothing more than neon lights above an abattoir. Come in, come in. Won’t you join the fun?

As a result, the Dow surges while the small investor yawns. And this is a dramatic departure from prior bull markets. In previous periods of exuberance the stock market was office and backyard chatter. Strangers waiting in line made small talk about their 401ks. Very young people became paper millionaires and others left fledgling careers to form pan-flashing start-ups. Everyone who was anyone watched CNBC.

And now? Almost no one discusses the stock market unless with their broker. And even fewer bother to spend their evenings having ear-drums pierced by Cramer’s caterwauling. Many simply view the market as a sucker’s bet and have tuned out accordingly.

But this is hardly a mere symptom of wariness toward Wall Street. Americans, that is to say those who happen to be standing upon this geography, have a blossoming distrust for the entire edifice.

They don’t trust government.

They don’t trust the media.

They don’t trust corporations.

And they sure as hell don’t trust their fellow “Americans.”

So we have an increasingly fractured and dysgenic society of rapidly declining social capital where solid majorities are growing to feel the institutional pillars are untrustworthy and inimical to their interests.

Heckuva job, Libbies!

One thought on “Not Catching the Bid

  1. What’s interesting is that in every example you present, the authors claim to either have no idea what’s driving the distrust, or try and dismiss it by saying that there are “too many” varied reasons and influences to identify. When they lie like this thru their teeth, you can be sure that the answers are plain as the nose on your face. The problem is that they have no stomach to speak the truth. Unfortunately until members of our race and ethnic groups wise up and see things for what they are, nothing will change.

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