They are scared to death the credit balloon they have allowed to create over the past 15 years is going to burst.
They are only creating more bubbles in other asset classes by cutting rates like they did on Sept 18th. It will eventually catch up with the market. Liquidity was drying up and the only way they were able to keep it going was to cut rates.
They dont know what to do. The US economy is hopelessly dependent on cheap credit that the slightest hiccup causes it to blow up. And now the street knows Bernake is committed to intervention at all times. Which means even more moral hazard/
So, which is it? Is it that this jobs report shows Bernanke is wrong? Or is it that daddyeaux's chart shows he's right? It can't be both. Not that you guys have the intellectual horsepower to figure that out.
daddyeaux's chart shows that construction employment is way way overstated and that the employment crash is yet to be realized...... we're just getting started with the shit hitting the air conditioner