Right on the button, Dave.
Deciding to spend another 1.2 Trillion smackers yesterday on T-Bonds and mortgage backed securities was the biggest Hail Mary Pass I’ve ever witnessed.
If Mr. Bernanke knows when the recession is going to end, I’m Mr. Greenjeans.
Indeed, it's virtually the equivalent of taking your life savings and putting it on red. Clearly we've decided to ignore to ignore China's warnings from a few days ago, and have opened up the throttle and are going full steam ahead.
It will be fascinating to see what the consequences are. We're going to either reach safe harbor, or ram full speed into the iceberg.