zarafa

no way back - the Horrible US Economic Morass

Like a petulant child raging around because it got one candy when it expected two, the market threw a tantrum yesterday when it only got a quarter of a percent rate cut yesterday when it was hoping for more - but what good would it have done if rates had been cut by half a percent, or even a full one percent? Is it really wonderful to undermine the dollar so much that it completely collapses? Is that what the stock market really wants, or is simply that like the spoiled brat that doesn’t get the instant gratification it seeks, the market can’t see past the end of its nose? Whatever, the news from the Fed yesterday caused a nasty convulsion that may mark the end of the “Santa Claus” rally - it was unspeakably cruel to withhold treats like this in the run up to Christmas.