As Dow soars, billionaires are dumping stocks

[Warpy]

27. I'm wondering exactly where that money is going

because I'm not seeing many spikes out there that would indicate large sums of cash being moved from one investment instrument to another.

Surely they have to realize that Asian stocks are shaky as hell and that China is teetering on the brink of a crash led by hyperinflated housing. European stocks aren't much better, the healthy countries saddled with bailing out the weaker ones.

American treasury bills aren't even that safe a bet since the GOP is talking openly on defaulting on those held by the American people as IOUs for all that stolen Social Security money from 1986-2010.

However, that there's a rush out of poorly performing US stocks is not the stuff of mystery. Retail stocks have all been doing badly and the ripple effect is starting to hit manufacturing. Financial institutions have been a bad bet since 2007.

I just haven't seen where the money is going unless it's being stashed in tax havens in numbered accounts. I have to doubt that anything but retail stocks are being dumped right now and they'd be dumped even without a high market causing widespread panic among the plutocracy.

I honestly don't think that writer knows what he's talking about.