When the economy won’t do what Bernanke wants, he just rigs the stock market. Is it a coincidence that on the eve of the final month of QE2 the CME announced margin cuts on stock index futures at the market close? Not it’s not. Is it a coincidence that the market began to move a half hour before that? Not it’s not. This is how corrupt regimes operate.
This is Bernanke’s last stand. As the economy and financial system implode, he desperately wants to put the best face on it. It’s a game that can only last so long. From a cyclical standpoint, it appears that it could be another 6 weeks which would allow for residual momentum to carry the market higher after the current round of POMO ends.
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