Wednesday, October 05, 2011

Last evening's absurd late surge to the Dow Index examined!

Acting Man again carries the most significant analysis of the day, read here.

I was watching last night just before retiring as the Dow Jones index on Wall Street, after stumbling alon about 200 points down for most of the day, rallied during the final thiry minutes or so to close at about 100 points up. "Disgusting manipulation by the powers that be now clearly in full panic mode"  I pondered as I sought sleep.

It appears the problem might have revolved around 'technical factors' although why a re-run of the write down to only 21% losses on Greek debt, which this blog posted about on 29th September, is explained as a factor, I am not too clear. Suffice it to say at this stage, many strange events are afoot, I personally cannot wait for more detail on the Spanish situation as promised by Mr Tenebrarum here:

We would note here that this accounting problem is far more pervasive than indicated in this article and not only concerns exposure to Greece. We will soon bring an update on the economic wasteland known as Spain and its widespread use of creative accounting, which extends from the banks to the government and should serve as a good example of what is actually going on.



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