http://www.zerohedge.com/news/2013-02-15/biderman-markets-ha-moment-and-obamas-apparent-omnipotence
Submitted by Tyler Durden on 02/15/2013 19:01 -0500
Biderman On The Market's 'A-Ha' Moment And Obama's (Apparent) Omnipotence
TrimTabs' CEO Charles Biderman finds it hard to hide his disdain for the omnipotent reality that President Obama espoused of a non-deficit increasing State of the Union solution to all our ills (from climate, income inequality, opportunity, and health) as he notes thepoliticians "do not seem to understand is that big government is, in fact, the problem, not the solution."
The problem is it is hard to find one service the government provides that is effective, other then writing checks. We have not won the federal wars on poverty, or drugs, nor overseas wars in Iraq, and Afghanistan - so although governments have rarely successfully provided services, we have a government committed to doing just that.
This faith in government omnipotence is now bleeding over into stocks, as Biderman notes "since January 1, investors are pouring billions into the markets in themistaken belief that the “fake” money created by central banks is just as good as previously existing money, and the markets will keep soaring. But for how long?"
He is clear on the implication of this "magical thinking" At some point "the markets will have an “aha” moment and stop allowing central banks to use newly created money with which to pay government bills.When that happens the markets will crash."
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