… or perhaps capital flight from Europe to US stocks, since they’re seen as the safest game in town at the moment. It would be interesting to see what would happen if another Cyprus happens and the Eurozone imposes capital controls.

As far as the Fed, their policies seem to be (thankfully) losing effect. Note that the Dow actually dropped another 50+ points (after the initial drop after ADP) after Ben opened his bearded yap-hole on Wednesday.

Though if we find out that Ben isn’t seeking another term for “health reasons”, then it might finally have the desired correcting effect on the markets.