Fed is scared stiff.Quote from piezoe:
My take is that the market will be more bullish and driven up largely by inflation, that the dollar will remain weak to weaker (a highly favorable position for a debtor nation), that the economic picture is worse than we might have thought (essentially paint by numbers rather than a Rembrandt), and that a recession after the 2008 election is now highly likely. Who says the Fed does not care about the stock market?
Quote from Ivanovich:
I think it allows all the big boys to get out from under the various unpleasant issues they had to dump before the fall. The real fall.
Oh, and the rest of us get to foot the bill with record inflation on the docket.