Well, my friends, here we are again. Instead of letting the organic, God-given natural forces of markets work themselves out, we have to wait like unruly children outside the Vice Principal’s office, waiting for him to do whatever it is he’s going to do with us. The entire financial system holds its breath while a tiny group of government academics that constitute an authoritarian financial politburo called the Federal Reserve deigns to give us their command-and-control edict for our once-great economy.
As such, the aforementioned children are squirming in their chairs and picking their noses with absolutely nothing to do but wait. As I’m typing this pre-market, all of the equity futures are up slightly, but in truth they’ve gone absolutely nowhere this week. Yesterday’s marvelous tumble was met with ferocious buying, yielding the entire day an utter waste of time.





