Or in the words of Captain Jack Sparrow. "Drink up me hearties".
The FOMC just gave the green light to every hedge fund manager between here and the planet Mars to cram every bit of leveraged funds they can borrow or beg into the commodity sector and the equity markets.
Gold soared through overhead resistance at $1680 as if it was non-existent. Silver shattered $32.50 rebounding over $1.50. Crude oil is now back over $100 and gasoline just soared another $.05/gallon. Gasoline prices alone have now rallied 40 cednts a gallon since November. Get ready for more pain at the pump. Here we go again!
The CCI shot up; bonds rallied over 2 full points and the US Dollar just got clocked. RISK ON - who gives a crap about European sovereign debt woes or Greece or anything. Free money - more free money - and even more free money.
"God Bless the Fed" is now being heard around the lunch tables at the restuarants as hedge fund managers raise their glasses of Chablis to toast their new found prosperity.
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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