THE 280 POINT DROP ON 1.3 BILLION SHARES TRADED IS HARDLY A HEAD LONG PANIC...
IN FACT IT LOOKS LIKE A SET UP BY THE STREET TO PANIC THE FED!!
THAT IS TO SAY, PANIC THE FED INTO LOWERING RATES IN SEPTEMBER...
BUT THE NOTION OF A FED BAILOUT OF THE ASSET BUBBLE ON WALL STREET AT A TIME WHEN THE DOLLAR AND DEFICITS ARE OUT OF CONTROL IS A PROBLEM...
BERNANKE IS RIGHTLY LOOKING AT THE POTENTIAL FOR A DOLLAR COLLAPSE...AND UNLIKE GREENSPAN, BERNANKE DOES NOT HAVE THE CUSHION OF A STRONG DOLLAR TO START WITH...
IT TOOK GREENSPAN DECADES TO SQUANDER THE HARD EARNED DOLLAR GAINS OF THE 1970'S AND EARLY 80'S FED POLICIES...
BERNANKE WILL HAVE TO BE THE NEXT VOULKER...NOT THE NEXT GREENSPAN...
THIS IS A REPLAY OF 1971...NOT 1987...!!
