Zeev's Turnips Patch-No Politics (ZEEV)

[DlphcOracl]

Larry Kudlow knows why the markets are in free fall. Read on.

As Larry Kudlow sees it, it is the SEC mandate that CEO's sign off on the accuracy of corporate profit reports by August 14th, and the subsequent public fear that these CEO's will "low-ball" their reported earnings and earnings estimates because of fear of jail time.

Of course, it couldn't be that: (1) the stock market indices are still quite overvalued historically and are in the process of correcting and (probably) overcorrecting; (2) that CEO's will "underreport" their corporate profits because, in reality, THERE AREN'T ANY!!, especially when all of the bogus accounting tricks (expensing options, etc.) and the underfunded pension plans (which depended heavily on projected profits in equity investments) are factored in; (3) that the quality of earnings reported are in question until there is genuine reform in the accounting laws that permit earnings and profits reports to be distorted in any manner possible (legally, I might add).

LOLOLOL!!! Kudlow is worse than Abby Joseph Cohen and Joe Battipiglia combined. He is the poster boy for all of the nonsenical rules and mantras the naive individual investors have been weaned on over the past decade.