Forget about Employment and GNP
The message that has come in clear since the start of QE2 is to buy precious metals, stocks, and commodities. Never mind that the problems we as a country face are structural and part of a deleveraging process that will not be solved by more cheap leverage. Real change in how our economy works is needed now but Washington cannot be bothered. 2012 and who will be in power is the focus.
The speculative markets don’t think that is going to change and it is working for them so far. Will outside factors overwehlm the debate today and force a turning point?