It’s a matter of time before the Academic in Chief, “The Bernank”, realizes that it all went dark after QE1. The market went up, but his end game failed miserably. The purpose was to create jobs and improve the housing market. Neither have been accomplished unless you hang your hat on one or two housing numbers that may look good off an abysmally low bar.
Wall Street bankers are still jonesing for jobs at Chik-Fil-A and unless you have 20% down and an SAT score of 2400 your still screwed for a house.
The Bernank kept the methadone in the zip lock today, I guess we wait for Jackson Hole now for the next big anti-climatic event. Tomorrow Drahgi gets the floor. He better be perfect.