John Crudele writes:
Stock prices went down early this week and — oh my! — you’d have thought the world was about to end.
As I’ve been telling you — and others have since confirmed — the stock market is rigged.
Central banks, including the Federal Reserve, have kept rates so low that there really isn’t any other money-making alternative for investors except stocks. But that’s the old news.
Around the world, central bankers have also been actively buying stocks to keep equity prices up. Why? First, because the stock market is the only thing creating any kind of optimism in the world economy. And, second, because Central Banks need to make profits, too, and they can’t with interest rates so low.
So it’s a Big Rig — an 18-wheeler that’s being driven by the Fed and other central bankers. ...