Wednesday, January 27, 2010

Bernanke Yes or No?

Ok so Ben is up for a contract extension. If this was the NFL with a Not For Long psyche I would expect a cut. But Ben does not work Sundays.

The market and main street are angry. For some strange reason they want to bite someone. Million dollar losses can do that to an investor. Bernanke just happens to be the special of the day. Even if Senators decide to bite, yesterday cannot be changed.

It's all about tomorrow.

The market does not have a real sense of how Bernanke will deal with the tomorrow. Politicans, well they only know about the next election. The selection of the head of the Fed Reserve has not been known to swing an election. The electorate cannot connect the dots. Politicans will re-appoint him. That way the senate can blame Obama because he re-nominated him.

There is no GPS for this.