There’s a whole slew of things going on in order not to scare the investor as well as the public....it’s intended as a holding pattern until the International Groups have all the ducks in a row.
G-20 met over the week end...any news other than further stalling?
Yea. The Germans put a shot across our bow by telling us that the QE’s may amount to manipulation of the dollar.
Bruederle also said that Bernanke’s QE plans are the wrong way to try to stimulate the economy.
Bill Gross has speculated earlier this month that the Fed might buy up $1.2T of government debt in the next year. That’s causing the Europeans and Japanese some serious heartburn, I’m sure.
In other news, the G-20 released PR twaddle saying that they’re in agreement to “move towards more market determined exchange rate systems that reflect underlying economic fundamentals and refrain from competitive devaluations of currencies.”
I’ll believe it when I see it.