The Noise Continues

   Some headlines that blipped on my screen this morning are in bold below and my commentary follows:

* Expectations of Aid for Ireland Lift Global Markets
   The bailout was never in doubt. The only people who thought that Ireland's "debt crisis" would be allowed to create another contagion were the amateurs. The patzers. The ones who haven't a clue as to how the game is played.

* Foreclosure class actions pile up against banks
   Noise. Someone turn it off already. Stop feeding the lawyers, stop borrowing against your home equity, stop the greed, stop the handouts, stop the bailouts, and definitely stop the blame. All this is noise though. Just another distraction to keep the money in play.

* GM is back: Good news for taxpayers, investors
   Whomever wrote this headline shouldn't be in the news business. I'm talking about the real news business and not the business of misdirection, thought control, and utter stupidity ('ello, Huffington Post). GM isn't good for taxpayers - GM swallowed up $50 billion in aid and the IPO is going to net about half that. The government gets the proceeds of those shares they're selling and none of it is going to taxpayers. So, how is this "good news" for taxpayers or is the headline writer just blowing smoke? As for investors, okay sure GM provides another mindless trading stock to play but it's not an investment. It's all noise though. Just another distraction to keep the money in play. See the theme here?

Never underestimate the stupidity of investors

GM confirms expanding IPO by 31 percent
GM to expand number of shares by 31 percent in offering; deal could become largest US IPO http://finance.yahoo.com/news/GM-confirms-expanding-IPO-by-apf-3081307171.html?x=0&sec=topStories&pos=5&asset=&ccode=

DETROIT (AP) -- Just a day before its historic return to the New York Stock Exchange, General Motors announced Wednesday that it would expand its initial public offering of common shares by 31 percent.

The Detroit company, responding to higher-than-expected demand for its shares, said it will raise the size of its IPO to 478 million common shares from the previously announced 365 million shares. Most of the common stock will be sold by the U.S. government, which is trying to unload what is now a 61 percent stake in the country's largest automaker.

   I'm not disparaging individual investors. They're largely out of the market. I'm disparaging crooked fund managers who buy on behalf of individual investors (IRAs, pensions, etc) and they're the "dumbasses" who are pouring money into the GM IPO. In any case, GM's a dinosaur that should've died and stayed dead. Taxpayers were tapped to give it a lifeline and now GM is coming back - a lumbering dinosaur that's facing extinction in another 10 years. Til then, enjoy the IPO, trade the shares, and watch the roller coaster commence.