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Even Ed Yardeni Admits "This Is Not Investing... The Markets Are All Rigged"

"This is not investing," exclaims Ed Yardeni in this brief clip, "it is all about central bankers... these markets are all rigged." That is not a criticism he notes, "I just say that factually... I love these central bankers, they've been very good to the stock market." The clip is then followed by a defense of this pumping by central banks, because "we are a 401(k) society." Which apparently ignores the whole "massive inequality gap" issue that is staring America right in the eyes... But for now stocks are up so "shut up and enjoy it" as Larry Kudlow said yesterday.

 

3 minutes of confused fact-facing and justification...

 

Which is ironic given CBNC's front page has duelling headlines proclaiming the markets are rigged and that Flash Boy's claim that the markets are rigged has not been proven...

 

Baffle 'em with bullshit continues.

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And here is Yardeni explaining this goldilocks scnario...

The Federal Reserve’s implicit patience in deciding when to begin lifting interest rates is raising the odds for the Standard & Poor’s 500 Index to hit 2,600 this year, according to Yardeni Research Inc.

 

There is now a 30 percent chance that the S&P 500 will reach that level in an “irrational exuberance scenario,” up from 20 percent, according to Edward Yardeni, the president and founder of the research firm. His “rational exuberance scenario” remains at 60 percent with a target of 2,150.

 

“If the fundamentals do improve, all the better,” Yardeni wrote in a note to clients today. “If not, then repeat: They can count on the central banks to provide yet another round of ultra-easy money, which will send stock prices still higher. We will probably have occasion to repeat our appreciation again and again before the end of the current bull market.”

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It's not "Greed Is Good" - in the new normal is "Rigged Is Good"