Today's Market, the Fed and the Wounded Patient (video)

This is just me thinking out loud...

First; a couple corrections:

*I say "fair value" (should've said "fairly valued" or "trading at the historical p/e") when referring to the market of March 2009... "Fair value" on Wall Street refers to the equilibrium value of a futures contract...

*When referring to the $5 trillion additional national debt, I say "that's how much the debt has gone up this year"... Meant to say "the past three years"...

Also: If the employment trend of the past couple of months continues (this morning's number was substantially better than anticipated), the threat of QE3 (unless Europe implodes) abates considerably...

Thursday February 2, 2012