I don't usually devote entire threads to just one video snippet but this latest from CNBS is so priceless that I figured it could stand on its own.
Please allow me to set the stage. Earlier this afternoon, the minutes from the July FOMC meeting were released to the usual CNBS fanfare. Once LIESman finished up his usual schtick, he threw it back to Brian and Mandy in Fort Lee...and this is when the fun began.
Now I have to give a few props to this Brian Sullivan character. To his credit, I've seen him on more than a few occasions point out some of the lunacy and disconnects that permeate his network and other financial coverage. Of course he never gets to The Truth. Oh, heavens no. Never, ever will CNBS or any other financial media discredit themselves by admitting what to all of us is so obvious. Namely, that The Fed and their Primary Dealers are willfully and intentionally driving the US stock market higher in order to maintain Bernanke & Yellen's "wealth effect".
So, when Brian notices this "very odd coincidence" in stock markets returns, he simply laughs it off. As he chuckles, he brings in some goon named Dom Chu to confirm his view that it simply must be "random nonsense".
Nope. Nothing to see here at all. Just a strange coincidence, indeed. Certainly NOT evidence that the "markets" are centrally-planned and centrally-controlled. No way. Hmmm, I wonder what Brian and Dom would think of this chart then? Three, consecutive years of a straight up channel with no meaningful corrections:
Three years of sovereign debt crises, geo-political events and a staggering US economy. But none of that matters when The Fed prints money and feeds it directly to The PDs for distribution across the equity derivative spectrum.
Again, though, CNBS et al would never, ever admit to this gross manipulation. To do so would discredit and marginalize their very existence. Instead, all is well in TV land. "Coincidences" be damned.