Stocks mixed on earnings, weak housing data

Should we give up on Wall Street?   Has the obvious subsidy by the Federal Government reduced the Industry to welfare status?  Can any of us believe it will repair itself and again work honestly and effectively?  Nearly every day now we hear the term unintended consequences and almost always this refers to a government program with short sighted dim witted planning creating havoc in the long term.  Are we getting a sneak prevue of the destruction of Capitalism and personal responsibilty as we descend into the abyss referred to as the New World Order?  Am I the only  person who feels a dark cloud  engulfing the American psyche?  I remember in first year psychology class the exercise in putting a bag over a plum and as days go by it shrivels and slowly dies from lack of light.  Are we  being denied the light and freedom gained by knowing  the truth? This is the fear I have for my kids and it makes me angry.

How many of you remember being told that a repeat of the GREAT DEPRESSION could never happen again, due to all the financial tools that were put into place to prevent it! Personally, I also remember many of my external family members telling me when I worked at Eastman Kodak Company that I was all set, because I had a job for life. Luckily for me my father who was one of the smartest men I ever met in life. Taught me never to assume anything and always have plan B.

He by the way had 40 years and retired from Eastman Kodak, only he was lucky and passed away before the great Bankruptcy occured, but he was also alive long enough to see his benefits start to get cut! 

I really don't know who's worse in life - Great minds wasting their abilities trying to hack and beat computer systems or Financial guru's who steal money from the ordinary hard working American people such as the Madoff's, Wall Street, Corporations, or the Banking system. Can anyone tell us who they think is really the more evil of the two.

6% of the population on government aid in 1964 and 36% on aid now. Only 48% paying taxes.  Anyone see the problem?

Sure there's a big problem and it's not as simple as Democrat or Republican.  If only it were.  I can't argue that government has enabled a welfare class to develop and grow.  Sure it has. 

A more systemic issue is that as a society, we simply don't need as many people working to provide enough resources for the whole.  A couple generations ago just about everyone was doing some sort of manual labor.  Now with automation and computers, one man can grow enough food for thousands.    We've managed to keep the economy lurching forward by convincing the people that they must have more "things" but now, especially since those "things" are being made overseas, there are fewer and fewer people needed in our workforce.    We also live alot longer than we used to.    Hence we have more people, fewer working people , fewer taxes, and more people on government support.    

So even though our population continues to grow, we need fewer and fewer people to actually work.  It's a recipe for some real drama in the future. 

You've heard of Pavlov's dog?   Today is a perfect example of Pavlov's stock market.   The markets going up in anticipation of Benanke and company throwing some more money at them so it will create an artificial demand.

Keep the Fed out of the market manipulation business.