The “Bernanke Rally” that we saw yesterday as QE3 was announced is akin to the shortlived high of veteran drug users. Lower returns on long-term Treasuries and mortgage-backed bonds are designed to herd people like cattle into a stock market that is near all-time highs -albeit illusory highs – while the real economy is a wreck with high joblessness and shattered price discovery. If you think the stock market appreciated, you were sufficiently duped, as the stock market was merely compensating for guaranteed dollar destruction.
Max Keiser
Financial War Reports
All the drug dealer Bernank did yesterday was go from pushing LSD (nuff respect to all responsible LSD users out there) on the debt-drug addled US economy to pushing BATH SALTS.
It won’t be long before you see the USA stripped naked and gnawing on the face of the nearest unsuspecting victim.