Further to my earlier question about the US recovery, I would like to add this.
In the week ending 10th September those on the inside of corporations bought 0.5 million dollars worth of shares in four companies. While they sold 332 million dollars worth in 72 companies.
Not exactly rushing to buy in to the rally are they?
Nor are there any signs that they are deploying their stash of cash to buy back their own debts and so reduce their also very large debt burden. Nor are they spending on new equipment nor on hiring. In fact, no signs of any concrete preparations for the imminent, if not already in progress, recovery.
The corporations are not buying diddly. Hence, I suspect, the need for all that Fed printing to keep some money moving in the markets and give the headline writers some basis for their fictional efforts.
I know I sound like some sort of dyspeptic malcontent. But I just don’t buy this phoney recovery.