I am concerned about the Greek situation, and a little guarded about the non-Farm Payrolls report on Friday.
On the bullish side, the Fed is going to start up QE again as soon as they get the proper excuse. Their rationale is going to include the notion that by printing new money to buy debt from the banks, they will not contribute to inflation because they will lock up the money on their balance sheet.
It is just a variation of the 'excess reserves' play they have been making for the last few years.
Zimbabwe Ben is going to print. That is all we need to remember. The pity is that the printing will be used to specifically benefit the wealthiest perpetrators of fraud and will have negative side effects for the real economy.
In the light of such boorish ugliness of these cheats and financiers, let us sit back and enjoy enduring greatness.
