This is one of the craziest videos I have ever seen when you consider the situation the stock market is in right now.
Here is Aaron Task - who used to write a wonderful column on TheStreet.com - turning himself into a mouthpiece for Wall Street and the Federal Reserve.
He has ceased to be a serious journalist like he once was and has now become a stock market cheerleader.
He argues that the Fed has "won" because the dollar is rallying.
Well, if he would look at a couple of charts he might notice that we have seen several dollar rallies occur in the past few years and every single one of them has taken place during times of stock market turmoil.
The Fed has now brought the nation to the edge of another disaster just like they did in 2007 and 2000.
They created another crazy stock market bubble that is now popping.
They created a huge mess all over again.
And instead of talking about this and the risks it has created in the stock market and for investors all Task can do is say that the Fed has "won."
This is "journalism" on Yahoo Finance.
And of course Jeff Macke did a video of his own for Yahoo Finance saying that the bull market is not dead so you have nothing to worry about.
Macke seems to think the only reason the market is falling is because "it’s October and there are plenty of ghost stories in the air."
Listen to what he says carefully, because Macke has made himself into a leader of the bull herd and is trying to provide them with the best reasons he can think of to believe that the bull market is still alive.
Ask yourself if these arguments are convincing.
At the beginning of September Macke said a correction would never happen again.
Now he says he is looking to buy if the S&P 500 goes below 1,900.
He thinks that is a good buy point to invest in bubble stocks like Facebook.
Personally I think the market is going to go lower than that before what he calls a correction is completed and that Facebook will totally crush people over the next few years that try to invest in it now.
It's trading at 81 times earnings and 37 times forward earnings.
That's an "investment" for someone who doesn't look at valuations at all and just believes the stock market is going to go up forever into a even bigger bubble than it already is like 1999.
It's a moron play.
The stock market went through a wild volatile drop in August of 2007 that marked the end of the last bull market.
During that drop Jeff Macke was on CNBC claiming that the stock market was going higher - and even euphoric when the Fed intervened one day to force a market rally.
Steve LIESman also claimed that the Fed intervention saved everything and made the market ok.
Of course the market rolled over into a bear market a few weeks later and totally crashed a year after that.
I am not going to take anyone seriously who was so bullish at that 2007 top and is now yelling for a continued bull market now.
I'm also not going to listen to people who say the Fed "won" so you have nothing to worry about either. That argument was a losing proposition in the summer of 2007 and is going to hurt people again going forward.
The market is likely to have a little bounce today after falling so hard yesterday, but if I am right and it turns down again into a big drop I doubt anyone in their right mind will believe that the Fed "won" anything.
But pumping and cheer leading seems to be all that is possible on Yahoo Finance as it appears to be trying to compete with CNBC as the go to place for the market bull to watch, listen, and believe.
And it is a message that has worked for them.
The only problem for them is when the next bear market completely plays out there may be so few bulls and stock market investors left to make their operation will no longer be financially viable.
I was thinking that today about CNBC as I watched it this morning. I saw no realistic discussion about the stock market at all on there.
They had some guest on that said people should just buy stocks now, because there will be an end of the year rally.
Becky Quick liked what he was saying and grabbed on to his idea of a "shopping list."
The only reason they saw the market falling is because it is October and that means you have an "opportunity to buy things."
They didn't say a single word about valuations or the internal disintegration taking place inside the stock market.
It's all happy times on CNBC and praise of the Fed on Yahoo Finance. There is no discussion of the risks in the market that investors face, because that simply is not allowed on networks and videos sponsored by Wall Street advertisers.
Nor is there any historic assessment of the Fed's actions over the past 20 years that have essentially created two bubble busts and ruined the economy and brought us now to the edge of yet another one.
If this is "winning" I hate to find out what losing is.