Today we live in Fantasy Land America, Home of the New Stock Market Bubble. So, as we say at Al Martin Raw.com, the lies you get for free. The truth you have to pay for.
Like many others, I have become upset about the ever increasing amount of Bullish Shillism we are seeing on CNBC and BBN. Not only does it anger me, but it angers many in the nation. I can tell by the number of people that call into my radio shows and comment about the expansion of Bullish Shillism, particularly on CNBC, led by Larry "The Dow's Going to 50,000 under Bushonomics" Kudlow and his erstwhile gang of never-endingly bullish retail institutional shills.
Last Friday, Larry Kudlow was on his evening show, the all-American bull market show, wherein Larry and the gang of shills are now predicting a summer rally that will take the Dow to 12,500. The S&P current price earnings will expand to 23.5, he said, with the future P/E at 27.5. What he is saying is that price earnings multiples will expand beyond the peak of the dot-com bubble of March 2000 because that’s what would be required for the Dow to rally to 12,500.