The FOMC did the expected today, and the market yawned.
Its all fiscal cliff on the informercial channels now until year end.
"Opinions alter, manners change, creeds rise and fall, but the moral law is written on the tablets of eternity. For every false word or unrighteous deed, for cruelty and oppression, for lust or vanity, the price has to be paid at last, not always by the chief offenders, but paid by some one. Justice and truth alone endure and live. Injustice and falsehood may be long-lived, but doomsday comes at last to them, in French revolutions and other terrible ways." James Anthony Froude
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery."There is a vision to remake the world's economy according to the neo-liberal agenda, and to rule it with an 'iron rod' and the US dollar. It would be under the control, described as benevolent guidance, of an oligarchy of the self-proclaimed wisest and most powerful of the multinational elite. The key goal now is to subdue any effective competition, and to gain the full cooperation of the other major powers. They are now testing their model of a confederation of nations under central control in Europe."