It was just all so shocking (not), in an election year, when we have wildly unpopular incumbents:
* To see the PPT-run Fed cut rates a shocking and historic 3/4 of a point minutes before the stock market was about to take a dump
* To see the wildly unpopular President and an all-too-eager congress ready over $150,000,000,000 in checks to be sent out to voters, to arrive before the Summer conventions
* To see the candidates run around the states offering billions and billions in new spending in a desperate pandering, with no way to pay for it
* To see politicians offering no solution for the social security/medicare/medicaid timebomb, and $52 trillion US debt
The government can keep the ponzi scheme going for a bit more. Housing is toast, there's nothing they can do there. But the rest of the house of cards can remain standing as long as foreigners keep lending us money, and accepting US dollars for their natural resources, goods and services.
But when that stops, and one day it will stop, then we've got ourselves a bit of a problem.
Until then, get out your parachutes, get ready for 1970's style stagflation, and enjoy the brief Fed Party. Try to figure out where the next Fed-induced, moral-hazard-be-damned, cheap money bubble will be. And get ready for the gut-wrenching meltdown so predictably delayed today by Helicopter Ben and the PPT.