by Graham Summers, Gains Pains & Capital:
The markets in the US have entered a mania in which investors look for any and all excuses to push the markets higher.
Case in point, yesterday Japan’s Nikkei fell 6%. This happened in spite of the fact the Bank of Japan is currently engaged in a QE policy equal to over 25% of Japan’s economy.
And yet, despite this collapse (and the obvious implications for other markets that are being juiced by QE… namely the US), traders pushed stocks higher because once again, the Fed’s mouthpiece at the Wall Street Journal, Jon Hilsenrath, published a story about the Fed not wanting higher rates (which they took to mean the Fed will not taper QE).
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