It seems the market has two things to cheer about today. The first is that "The Manchurian Candidate" is in place. We are talking about the new head of S&P's rating services. He is a former Citi guy and you can expect a debt upgrade by the end of the year. The second is Uncle Ben is expected to add more rice to the already over cooked pot. It might make for a quick "pop". The problem is that the market goes up and everyone else gets poorer. QE1, QE2, and probally QE3 are doing nothing but printing more money and devaluing the savings and purchasing power of everybody else in america. Today may have felt good; however, we are not out of the woods yet. The market is acting like QE3 is all but done. We shall see. Expect fireworks either way.
