The notion that the FED will stooge for the speculators on Wall Street at the expense of the US Dollar is just scary!
Gas is already at $3 per gallon in California...and that's coming to a gas station near you...very soon...
I mean is Wall Street suffering from anything but a long term liquidity bloat which started during the Greenspan Daze...?
The misguided notion that the FED can "print money" for asset inflation...and avoid having that excessive liquidty "slosh" over into the real economy is just wishful thinking...
It is only because of the de-unionization of the American workplace...and the glut of goods from cheap labor in China that this absurd ASSET INFLATION has been allowed to go on for so long without adverse consequences...
But the Bubble Daze is over...
RATHER THAN LOOKING AT WALL STREET THE FED HAD BETTER FOCUS ON THE WEAK DOLLAR...AND WHAT THE WEAK DOLLAR MEANS TO THE ECONOMY LONGER TERM... NAMELY, HIGHER INFLATION, HIGHER GAS PRICES, AND HIGHER INTEREST RATES...!
THE FED SHOULD SIMPLY TUNE OUT THE SCREAMING FROM THE LIKES OF KUDLOW AND CRAMER...AND THE OTHER SHILLS FOR RAMPANT SPECULATION....
BECAUSE IT MAY ALREADY BE TOO LATE... SAVE THE DOLLAR...NOT WALL STREET!
