A Moment (Only) Of Truth

Reality was briefly visible through the propaganda chaff this afternoon after Bloomberg released some Wal-Mart internal email that warned of slow sales:

“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal- Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.”

Stocks fell briefly, but the algo-driven pumping soon had them back on an even keel. The transfer of Wall Street’s stock holdings to retail bagholders investors is presumably not yet complete.

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