The major export of the States these days is financial paper assets. And here are their production charts on the equity side.
I thought it was remarkable that stocks and bonds both rallied today, while the dollar continued to slump.
The FOMC is meeting, and will make their announcement tomorrow. Benny will be throwing a bone to the protesters, in the manner of Mubarak or Gadaffi, and holding a press conference in the spirit of transparency.
I wonder if he has the the nerve to fake an end to QE while continuing to blow an asset bubble in stocks and bonds? Well, not so much the nerve, as perhaps the luck.
