Ben’s Missed Opportunity
Too bad for Ben. Once again he blinked in the face of a monumental problem. We all know what the problem is, the UNCERTAINTY created by the Republican obstructionist attitudes in Congress. Congress refuses to work out a timetable for a fiscal structural solution. This was the time that Ben could have gone outside the box and made the Fed Chairman position into a bully pulpit. Sure he may have been derided and maybe created a firestorm for calling a spade a spade. He is the point person who has access to numbers that could make the next election one that could be decided based on facts rather than lies.
So Ben continues to rely on funny money, it will not work.
My view is that the whole stock market rally from the June lows will take no more than two days to collapse. Not necessarily two days from now, but two days from start to finish once it starts. What if this was the Romney victory anticipation rally?