The President's Wooking Group (PPT)
#1
Posted 09 August 2007 - 05:12 PM
#2
Posted 09 August 2007 - 05:50 PM
#3
Posted 09 August 2007 - 06:29 PM
#4
Posted 09 August 2007 - 06:58 PM
James, I honestly believe PPT powers are an exaggerated myth.
If the market (DJ30 & SPX) drops 15% from highs, I will be even more
convinced.
Ofcourse if there is a true crisis of confidence (such as after 911) in the
financial markets, then the FED, PPT, Guvrmint, whoever is going to
do everything possible to help stabilize the markets. The problems start
when they go overboard as Greenspan did in dropping the rates to 1%
and that created the credit bubble.
Right now, with general economy humming along, the best thing they
can do is let the credit bubble deflate in an orderly fashion and let the
imbalances correct themeselves.
The PPT is always there so that anyone can point to it as an official organization and say, "See the PPT isn't doing anything.............So, there you have it, no manipulation and no more possibilies. What bothers me comes from my understanding of how democracy, in time, becomes a medium for transfering wealth.
I don't know anything about the guy that wrote this but I like the quote.
"Imagine for just a moment, that the Dow Jones Industrials has become a key instrument of national economic policy, and that by "actively managing" its direction, the government could impact the wealth of tens of millions of US households, and by extension, influence consumer confidence and spending." Gary Dorsch
His article is pretty good too.
The "Plunge Protection Team" Working Overtime
I am first to admit that I have no proof but I have never had proof of anything in time for it to make a difference. I don't think that the official PPT has played much if any role in controlling the market.
I do think the control has been there from a clandestine source because it shows up in charts and on the tape.
James