by Pam Martens and Russ Martens, Wall St On Parade:
With all the front page headlines on Russia’s meddling in the 2016 election to put Donald Trump in the White House, there needs to be some reflection on what’s happening today. Trump’s poll numbers are not collapsing today because the U.S. stock market appears to like Donald Trump. And since tens of millions of Americans’ 401(k) plans and future retirement prospects are tied to the stock market, self interest is playing a role in propping up the President’s approval ratings.
But to an ever growing degree, the U.S. stock market is being propped up by hedge fund algorithms, corporations taking on debt to buy back their own stock, big Wall Street banks’ dark pools trading in darkness and foreign central banks and foreign sovereign wealth funds gobbling up U.S. stocks.