Is Mr 16% overnight Volcker Bernookie's replacement?
Doesn't that terrify the masses? Dems leaving helicopter Ben in droves, one year too late after he's seen the light?
What "Populist" movement are Pelosi's group talking about? 66% of the employed own stock, they are taking it in the butt we don't stay the course.
The bubble has a big pin stuck in it called uncertainty. The Fed needs to stay the course this week with zero change to wording, which I believe they'll do, but do that just to slide slideways in this market.
Bernankes future tho, is taking a lot of beef out of this stock market bullpen.
A 50% retracement will evince over all asset classes if Oblamma can't get Pelosi and a few others in the Dems to line up behind the Chairman, vote with their pocketbooks, and STFU.
I hope so...I'm tired of getting negative real returns on my CDs in order to help the big banks dig out of the hole they've dug...paying 1% on short term deposits and then buying longer term treasuries at 3-4% in risk free govt bonds...and guess who eats the loss if rates go up and those govt bonds crater? I'll shed no tears for Ben if he's replaced by Volcker...scary part is that new fed chief will likely be someone other than Volcker.