Why the market is tanking, now....
The dowgrade is a red herring, the PPT / FED is on the defensive...
The FED is loosing legitmacy. I was in DC driving thru Bethesda and some one had spray painted End the Fed on an overpass bridge.
This cartoon has 4.7 million views. The stupidity of QE and the FED policies is now apparaent to millions.
Congressman Ron Paul now has several best selling books.
Millions have seen this:
Millions have seen -
Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."
Why are some still listening to this guy ?
Aligned with CSH here: Don't Fight Bet On The Fed
(August 5, 2011) The era of quasi-religious belief in "Don't fight the Fed" is drawing to a close; the Fed has been revealed as significantly less omnipotent and powerful than previously imagined.
Many observers expect the Federal Reserve to bail out the stock market next Tuesday with an announcement of QE3, another round of "monetary easing" to reinstall the trade in risk assets. If they do, it will fail. The basic reason it will fail is that the Fed's credibility has fallen below a critical threshold. Put another way, the quasi-religious trust in the Fed's infallibility and power to single-handedly reverse global markets has been eroded by reality: QE2 was a monumental failure.
Here's a couple of things to understand about the Fed before you "buy the bounce when they announce QE3."
the rest is here: