Isnt it painfully obvious that the only monetary tool the FED has left is jawboning. For my entire adult life FED operations were cloaked in secrecy, and not all of a sudden they are embracing transparency. Please, give me a break. Dont let the door hit you in the #$%$ BSB, and good riddance.
This market makes me sick and will go down in history along with tulip bulb mania and the south sea company. The FED really screwed the pooch, and now they have to choose between saving the markets / TBTF banks, and the dollar. There is only one choice. When all is said and done we are looking at SP 666 again. Thats all the market is worth, like it or not we are in a demographically-induced deflationary economy that no amount of FED tinkering can prevent.