The Real Reason Wall Street Celebrated the "Inflation Reduction" (lol) Climate Act ~~ Agelbert

 ~~ written by agelbert ~~

NB note - the crazy formatting and problems with the graphics are mine and I regret how this problem affects the article.  I hope that I can improve the presentation next time and thank agelbert for his patience with me.

August 10, 2022

AGelbert NOTE: The following comments (I replaced the handles with graphics) were posted today in response to a Stock Market news article explaining the cause of the "positive" (i.e. buy, buy, buy) reaction of the "markets" to the "less than expected" CPI print of 8.9%. The comments, unlike the BLS CPI print of 8.9%, are reality based. but they fail to point out the real reason the markets went up today. After the comments, I will state what I am certain caused today's buying spree.

QUOTED COMMENTS:
🤦‍♂️
8.5% is still an ugly number. A fake, ugly number at that.
always assume 10% downside to anything produced by fedgov/CIA mouthpieces/MSM polls

😡
Fake..
Everything is Fake
one BIG Ugly out of control Clusterf#ck Dumpster Fire!

🥺
Lots of lipstick on that pig.

🙄
There is not quite as much arterial bleeding pumping and spraying out of the victim as last month!

🎩
We're gonna need a bigger IV and larger blood bags. I hope donations don't slow down.

📢
after the https://fred.stlouisfed.org... household reported against the BLS release.. No one I mean no one believes these liars..

🔊
And also remember that any government report citing inflation/pricing is BS!

💩
At this rate of inflation, your money is only halved in 11.8 years.
Enjoy...

🙃
Key words…”at this rate” because we all know the numbers are probably double what they are saying they are so you can cut that 11.8 to 5 years I’m guessing….

No no no. Everything is made as opaque as possible and information is only available to a few who we trust to give us the whole story because everything is awesome. Things are great and anyone who isn't doing great is really just jealous of other peoples success and a drug addict and dumb and a liberal or a conservative and lazy and entitled and and and and. This was the story for many years while all of this was unfolding and now that it is impossible to ignore, everyone is still jealous , a drug addict, etc. But now that the people who labeled everyone who wasn't doing so well all those things aren't doing so well themselves. They are singing the same song all of those lazy, entitled, dumb people were singing decades before. It's really funny the cognitive dissonance most people have.

🐻
We'll see if the have that smug smirk on their mug standing in a gov bread line in January.
It's coming...

🐾
Roger that.

Compounding lies with more lies will only help the Fed to do the wrong thing at exactly the wrong time!
You are led by morons who think they are gods shaping reality.
arrow

Hubristic losers, the lot of 'em.

🤷‍♂️
While I agree they are lying through their teeth, being incrementally more hawkish than they have been and raising rates (with QT) is the right thing to do when inflation is higher than the Fed funds rate. That doesn't excuse them from holding rates way too low for way too long, and it won't stop the reckoning still to come in the housing and financial markets.

Zimbabwe, here we come !
More manipulated numbers from government agencies.
I can see it now.

Gov't Economist: "What number should I put in the CPI report, Director? 6.3%?"
Susan Rice: "Nah, they will never believe that it went down that much."
Gov't Economist: "What about 7.8%?"
Susan Rice: "Problem is the seven. It screams made up."
Gov't Economist: "Well, it kind of is..."

Susan Rice: "Put in 8.5%. It's not too far off 9.1% but we made that one up anyway, so it doesn't matter."
Gov't Economist: "That sounds pretty good."

Susan Rice, Director of the White House Economic Council, chuckles and smiles.
UNQOUTE
Source:  https://www.zerohedge.com/markets/wall-street-reacts-todays-huge-cpi-miss

AGelbert reality based rant: The real reason the "markets" (i.e. stocks owned by MOSTLY the 1%) went "up" (i.e. buying spree BY the 1%) is because of the TWO GIANT GIVEAWAYS just passed by Congress (i.e. chip manufacturer 70 billion plus dollar swag AND the 🦕 Manchin "Climate" bill that MOSTLY provides MORE subsidy SWAG for the 🦖 hydrocarbon hellspawn, while providing a pittance for clean energy). There is ABSOLUTELY NOTHING in these pork barrel giveaways for we-the-people not in the 1%. Let me repeat that: NOTHING! There is NO repeal of the 2017 Trump

massive baked in permanent REDUCTIONS to upper class taxes along with INCREASED Taxes baked in for the middle class and lower income brackets (see below).

http://www.createaforum.com...

There is ALSO NO CHANGE to THESE 2017 🥺 Federal Budget PROJECTIONS:

There is NO actual "subsidy" for buying an EV unless you consider a $7,500 (that's the max, rarely available) rebate on a $60,000 PLUS vehicle a "benefit for the middle class". I CERTAINLY DON'T.

The bottom line is that the US Congress just made a POINT of proving they are THERE for the 1% and they will continue to be THERE to guarantee the Capitalist SHAFT for the rest of us. And THAT

is why Wall Street is so 😈 pleased today. Have a nice day.