Wednesday, June 22, 2011

The Sizzle Fizzles

The situation in Greece looks like it's stabilizing a little, and the Fed is about to announce that it's not making any sudden moves anytime soon.
It's conceivable that the Fed's decision to suspend purchasing American debt obligations could spike inflation, but that's rarely a concern of the markets (indeed, it kickstarts earnings and revenues).
For a casino based on "rationality," the stock market rarely makes sense.