October 6, 2010

THE OTHER DAY, I WONDERED WHY STOCKS WERE GOING UP: Is it because Obama and the Democrats are polling badly?

UPDATE: A hedge-fund reader is not so optimistic:

A GOP takeover of the House, and the acquisition of a real blocking minority in the Senate, have long been priced into stocks. The latest surge higher in the Dow is folks betting on a Bernanke “put”…that the Fed will debase the dollar so much that prices will rise in nominal terms. Stocks aren’t going up in gold or Euro terms.

Ugh. That’s what I was afraid of.

ANOTHER UPDATE: The Rich Get Richer Because The Fed Is Cheating You. “They’re trying to re-inflate the bubble.” Should’ve bought more gold.

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