Oh my! Guest Analyst on CNBC Says Gov. is Manipulating the Market
Mike Whitney

It's always fun to watch when one of the so-called experts on CNBC breaks ranks and goes Jackie Chan in front of a live audience. This time it was Larry Levin's turn. Watch resident CNBC cheerleader Steve Leeson's face darken as the topic turns from the "green shoots" script to the horrifying truth that the market is rigged. Levin is no professional "gloom n doomer" like Marc Farber or so many of the Armageddon throng. He's a professional futures trader who has hung around the pits for 20 years at the Chicago Mercantile Exchange (CME)

Here's a blurp from the interview:

Larry Levin: "....this market continues to be propped up by government intervention and manipulation and unfortunately as that continues to happen this market can go higher the government has been doing a good job of keeping it that way no matter what the real underlying current is. ...

Question CNBC anchor: "What happens when we go into the second half? Is reality going to hit in a bad way?"

Levin: "If the government can keep putting out all these IOUs and printing money, I guess not. Many professional traders would have told you that this market should not continue to move up as it has; move up 4 months in a row basically months ago, ... You're gonna have to pin it on Obama and his staff that they've kept this market propped up the way they have......They're doing a good job Every single day we have some backstop from the government These are NOT free markets anymore. "

Wilbur Ross (fund manager) adds his 2 cents: "We're facing an environment where Washington is the new Wall Street. It seems like no capital transactions get doe at all without some kind of intervention from washington. And it makes me wonder; How do we ever get off those vitamin pills?...all we are doing is transferring liabilities from private to public sectors."

The truth pops up so infrequently on CNBC, that it's worth noting before the video vanishes from the archive and Levin is dragged off to the sanatorium in leg-irons.

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