The BUBBLE DAZE may be ending today...
Greenspan' replacement could be named today...and I would expect a strong market reaction to the "new guy."
Can anyone have the power to create and sustain bubbles the way Greenspan did during his long tenure as BUBBBLE-MASTER-IN CHIEF? Probably not...
Indeed, the new Fed Chief will inherit an economy that is rampant with debt and deficits...where the dollar has declined against the Euro and where gold and other commodities are soaring as speculators seek protection from more Fed asset inflation and bubblemania.
Rates are going up and they most continue to go up if the bond market is to survive and the dollar stabilize. That means a better return IN THE BANK than in the markets for many savers.
GREENSPAN'S RECENT SLAVISH DEVOTION TO MONTHLY 25 PB RATE HIKES SHOWS JUST HOW BADLY HE MANAGED THE BUBBLE OF THE 1990s...
NO LONGER DO SPECULATORS SEEK TO "ANTICIPATE" THE FEDS "NEXT MOVE"...WHICH IN THE PAST WERE OFTEN AGAINST THE EVILS OF RAMPANT SPECULATION...
NOW THE SPECULATORS HAVE THE FED ON THEIR SIDE! THE FED DARES NOT CROSS OR "DISAPPOINT" THE SPECULATORS FOR FEAR OF CREATING A "MARKET PANIC." THAT'S JUST HOW STABLE THIS NEW BUBBLE BASED ECONOMY IS IN THE US...!
TODAY COULD BE THE END OF AN ERA...THE ERA OF BUBBLENOMICS, RAMPANT ASSET INFLATION, HYPER-LIQUIDITY FOR WALL STREET... IN SHORT, THE WORLD AS WE HAVE KNOWN IT SINCE 1987!
AND THERE IS A REAL POSSIBLITY THAT SOME "UNPLEASANTNESS" COULD OCCUR IN THE MARKETS ONCE THE NAME OF THE "MERE MORTAL" WHO WILL REPLACE THE "GOD OF BUBBLES" IS ANNNOUNCED...!
