Trapped! - 11/11/13

The Wake Up Call show

Summary: An extended talk about the stock market with particular reference to the ridiculous Twitter IPO that came out last Thursday. The investing public is yet again, for the third time in thirteen years, becoming trapped at the top of a bubble. The current bubble is in many ways worse than that of the later 90s with the same absurd overvaluations and surreal arguments for growth among companies that have never showed a profit. A comment by David Stockman. An update on the economy. Noam Chomsky’s comments on foreign appreciation of American antics abroad. A short interview with him follows. An account of the Gunpowder Treason plot in London during the 17thcentury. Eerie similarities surrounding those events exist today. More on car sales and why they are so strong (hint: subprime auto lending). More evidence the economy is turning down. The pathetic business model of Twitter as compared with the great inventions of the 20thcentury