``It is not the responsibility of the Federal Reserve -- nor would it be appropriate -- to protect lenders and investors from the consequences of their financial decisions,'' Bernanke said. http://www.bloomberg.com/apps/news?pid=20601087&sid=alr7BrANy1ZE&refer=home
That sentence was interesting. I think this market is headed back down, I dont think bush will say much to change the attitude of this market. This rally doesnt seem like its going to stay.
Rick Santelli is getting angry, I think he makes the best points on cnbc, only one worth listening too. I think he is 100% right.
Good for Ben, that a boy Ben hold your ground. The data seems fine the markets are still up for the year, no cut necessary.
Sept 18th = no cut in rates. Too many are anticipating a rate cut and when it doesnt take place they will regret positioning their portfolio around that trade.
the speech was terrible - i am surprised the market is not selling more. in fact the speech brings more uncertainty into the outlook for rates and therefore for inflation. i especially hated when he said that data suddenly matter less than before - so all important data next week are basically deemed irrelevant. the ride is not over - this guy is fucked up. yep - and rick santelli is probably the only guy who gets it.