I have seen my share of weird, unbelievable and inexplicable things in my time but the global stock markets’ behavior the past few days goes beyond anything ever featured on The X-Files or Twilight Zone.

Citing “hope” based upon reported “rumors” by CNBC and others that Germany, the EIB and the EU were going to come to Greece’s rescue, the markets cheered loudly and forged full steam ahead as though we were back in the Roaring 20s. Elated and ecstatic “investors” raced to drive the markets higher and higher, all the while ignoring the cold hard facts of dismal economic reports.

When investments are driven by intangibles and the tangibles are ignored it’s time to head for the exits.

Unemployment up, housing down, confidence down, output and production down, debt at record levels and rising, and devaluing dollars with no end in sight seem like pretty concrete reasons to show a bit of caution to me. 

Hope that the EU can pull a rabbit out of the hat or fire a magic bullet from an empty gun also seem like pretty good reasons to show a lot of caution.

In fact, Germany says no more bailout money than previously planned.

Germany Says No New Bailout

In fact, EIB says the report by CNBC was false and that they have no plans to be involved in any bailout programs.  

EIB Maintains No Bailout Stance

In fact, many countries have not yet agreed to the plan formulated in July 2011.

Europe Euphoria May Be Premature

The markets, for the most part, are choosing to ignore the truths behind these false stories.

I am beginning to feel more and more like Fox Mulder. I am beginning to hear whispers in my head of conspiracies and manipulation. I am willing to entertain the idea that the media and our government are willing to mislead the American people to postpone the inevitable train wreck that is our economy. If this is true, then criminal acts are being perpetrated against the American people by individuals in very high places. History will show that most, or all, of these scoundrels are becoming extremely wealthy off the backs of the American taxpayer.

Having witnessed Obama and his administration’s willingness to outright lie to us, I wouldn’t be surprised if this is the case concerning our economy. I can hear their defense now. “We were doing it for the good of the country.” The lap dog media is following the script perfectly and supporting this smoke and mirrors sham.  I saw no retraction by CNBC to their erroneous story regarding EIB. Sure would be nice to see some accountability in the media as well as the White House.

Of course, if that happened, I would then feel certain I have fallen into the Twilight Zone.