By Franck Prissert:
Yes, Wall Street is bipolar. The emerging conventional wisdom is that Operation Twist is good for no one, and that Dr. Bernanke belongs to the Cuckoos? Nest, along with his European comrades. We should have had a non-sterilized QE3 instead. This comes from the same people who said QE2 was an abomination, not to mention QE1. On second thought, they even go further. Europe should TARP ? coming from the same people who pilloried Dr. Ben and Henry Paulson. They even suggest Europe should leverage?the EFSF, of all Ponzis!
I am trying to stay away of the funny stuff. In early August, when we were hovering around S&P 1300, I called for 1190, a level that has proven to be pivotal, and my conclusion was ?We are going to grovel for QE3.? I have not changed my mind since.
I then wrote about Europe?s dysfunctions. In a nutshell, I concluded
Source: http://seekingalpha.com/article/295645-a-new-twist-for-housing?source=feed
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