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Wednesday, July 13, 2011

Two-faced follow up

6:37p..  Dow finishes up +45..   could have been worse.. (investors would use the word 'better' but they're selfish sociopaths so...)  the markets were up 164 pts at one point in the day because Ben Bernanke basically offered a cocktease to cockroach investors that QE3 was on the way.

So who or what saved the day?

From AP:

"Comments from Fed Chairman Ben Bernanke set off a stock market rally early Wednesday, but it wasn't long before another Fed official helped cut it short... Most of those gains evaporated later in the day after Federal Reserve Bank of Dallas President Richard Fisher said in a speech that the Fed had already "pressed the limits of monetary policy."

One can never predict what slimy, weasel-like tricks Bernanke has up his sleeve in the future to artificially push the markets up at the expense of everyone else. But at least for today glasses can be raised and a toast given--

'To Mr Fisher-- thank you.'