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Russell 2000 Is Down... No, This Is Not An April Fool's Joke

Tyler Durden's picture


Sorry but this is really worth a post. The last time the market actually dipped more than 0.001% was on November 26, as such this is a historic event (in a country whose attention span is +/- about 15 minutes). The Russell 2000, which his Chairness indicated is the only metric tracked by the Fed's third mandate, is down. And since the Fed controls (insert best Tepper voice) everything, this can only indicate that the Bernank is finally starting to get concerned about those food riots he has been reading all about in assorted fringe blogs.


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Wed, 01/19/2011 - 16:07 | 887938 Cleanclog
Cleanclog's picture


Wed, 01/19/2011 - 16:12 | 887959 Dr. Richard Head
Dr. Richard Head's picture

History quiz.  What happened on March 6, 2009 that caused this index to bounce from 351.05?

Wed, 01/19/2011 - 16:23 | 888001 Cleanclog
Cleanclog's picture

Gov Blago named Burris to Senate (rather let him BUY the seat).

And Celtics beat Cavaliers.

And the big boys backed up the truck and bought indexes?

Wed, 01/19/2011 - 16:28 | 888014 Dr. Richard Head
Dr. Richard Head's picture

Does the BOE QE announcement have anything to do with US markets?  I didn't have an answer, I was trying to find one from someone here.

The other inflection point I can see in the 5 year chart was a pretty obvious one - 753.69 and dropped like a stone on September 22, 2008 -

Wed, 01/19/2011 - 16:33 | 888021 66Sexy
66Sexy's picture

controlled range drop, its a fugazi... legitimacy drop.

bear trap.


put a zero at the end of that red 20 and ill start being convinced this is 4 real..

Wed, 01/19/2011 - 16:58 | 888145 Sudden Debt
Sudden Debt's picture




Wed, 01/19/2011 - 17:23 | 888275 Rusty Shorts
Rusty Shorts's picture

Houston, we have a problem. This is a bit O/T, but you would think an event in our near future like this one --

-- would be all over the news. Comet Elenin (C/2010 X1) is for real, if it does manage to miss Earth, we will still pass directly through the tail of the Comet.;wap2

Why the MSM silence?


What will the markets do when the sky is lit up like a Roman Candle?

Wed, 01/19/2011 - 17:29 | 888310 Sudden Debt
Sudden Debt's picture

I have a green ticket for Ark nr. 9.

Which one do you have?




you did order your ticket right?

Wed, 01/19/2011 - 17:31 | 888322 Rusty Shorts
Rusty Shorts's picture

Placed my order this morning.

Thu, 01/20/2011 - 02:33 | 889347 faustian bargain
faustian bargain's picture

They got 9 of those things? I thought there were only 3. At least, that's what they told me when they said they were sold out.

Wed, 01/19/2011 - 18:00 | 888452 Borodog
Borodog's picture

"If it does manage to miss Earth"? It's going to miss by 350 diameters.


Wed, 01/19/2011 - 18:09 | 888489 LowProfile
LowProfile's picture

Clearly, nothing to worry about there.


Wed, 01/19/2011 - 22:28 | 889086 Rusty Shorts
Rusty Shorts's picture

We shall see.

Wed, 01/19/2011 - 23:53 | 889205 wretch
wretch's picture

A direct hit is bullish for stocks.

Thu, 01/20/2011 - 00:49 | 889257 Rusty Shorts
Rusty Shorts's picture

Potential Perturber


"Comet Schwassmann-Wachmann 3 is in the process of disintegrating. Since 1995 observers have witnessed the Jupiter family comet fragmenting from it's nucleus. Orbital periodicity is roughly 5.33333 or 5 and 1/3 years.

I forgot to mention the dates earth crossed through the ion tail debris of comet schwassmann-wachmann. The earth-debris dates usually are missing from the picture. :) If you're interested in playing with the comet arrival dates...Sept 2011";orb=1;cov=0;log=0;cad=0#orb

Thu, 01/20/2011 - 02:33 | 889323 iDealMeat
iDealMeat's picture

Thanks Rusty,  I'm into this kinda stuff.

jpl site is way cool.


Though I do want to say you're -- image shows an intersection date of Oct 31 to Nov 1st ish..

The jpl orbit diagram of the same body shows and intersection of Oct 18th..;orb=1;cov=0;log=0;cad=0#orb

Someone needs to recheck they're math..  probablly not jpl..

Wed, 01/19/2011 - 16:07 | 887939 Timmay
Timmay's picture

Buy The Fucking Dip anyone??

Wed, 01/19/2011 - 16:10 | 887955 Dr. Richard Head
Dr. Richard Head's picture

Still dipping.  Down 19.730 now....19.83...

Wed, 01/19/2011 - 16:15 | 887974 Dr. Richard Head
Dr. Richard Head's picture

down 21.230...

Wed, 01/19/2011 - 16:34 | 888036 66Sexy
66Sexy's picture

oh, i know why.. its because i just sold my TZA this morning, at a loss before the big run...

sorry folks, false alarm.

Wed, 01/19/2011 - 16:16 | 887980 Stoploss
Stoploss's picture

780 would be where that would happen, below 780 and the 50 gets tested next. If rut is allowed to break 780 then something is up, 50 has not been tested since Sept.

Wed, 01/19/2011 - 16:28 | 888013 HarryWanger
HarryWanger's picture

They will. Last half hour brings in the dip buyers. Always has, always will. That's just how our market works in these times. BTW: DJIA seems to be unaffected by the pull backs in SPX and NAZ.

Wed, 01/19/2011 - 16:33 | 888034 AccreditedEYE
AccreditedEYE's picture

Since when has the DJIA EVER been the leading index? Nazz always leads the way Harry. Always.

Wed, 01/19/2011 - 16:39 | 888053 A Man without Q...
A Man without Qualities's picture

You do realize that the DJIA is not a weighted index?  That means IBM is the largest component by a large margin at it's up over 3% today.  8 risers and 22 fallers...

Wed, 01/19/2011 - 16:42 | 888065 HarryWanger
HarryWanger's picture

Yes, I get it about DJIA - I was just making a point that it's odd that it's actually held up as an index in comparison to SPX and NAZ. Nothing other than an observation. 

Wed, 01/19/2011 - 17:27 | 888295 JohnG
JohnG's picture

It is a scaled average.  In other words a weighted mean.


Wed, 01/19/2011 - 16:59 | 888158 Ras Bongo
Ras Bongo's picture

Not this time Bankster's asswipe troll

Wed, 01/19/2011 - 16:08 | 887947 Dr. Richard Head
Dr. Richard Head's picture

The chart looks like a slide.  Weeeeee!!!!!!!!!!!

This is a dip worth buying.  /sarc

Wed, 01/19/2011 - 16:31 | 888022 mynhair
mynhair's picture

I bought the dip - where do I apply for a refund?

/more sarc

Wed, 01/19/2011 - 16:43 | 888074 Dr. Richard Head
Dr. Richard Head's picture

Please provide triplicate copies of all complaints, hand written please, and shove them up your arse.  Insertion should be easy since the Ben Bernanke and the Turbo Timmy have already cleared a path through the sphincter. 

Wed, 01/19/2011 - 16:08 | 887949 rubearish10
rubearish10's picture

It is my wish and perhaps other reader's, that IWM $80.00 is a "top-tick" figure and perhaps have the slightest chance to make money in two directions. That's all we're askin'.

Wed, 01/19/2011 - 16:09 | 887951 bob_dabolina
bob_dabolina's picture

This is hot sex.

Wed, 01/19/2011 - 16:09 | 887953 Screwball
Screwball's picture

I saw AAPL go red.  I think I was dreaming.  That just cannot happen can it?

Wed, 01/19/2011 - 16:17 | 887983 goldmiddelfinger
goldmiddelfinger's picture

It happened yesterday! In other news Agnew resigns.

Wed, 01/19/2011 - 16:22 | 887999 Screwball
Screwball's picture

I know, but they didn't do it after "blowout" earnings.  In other news, it was sarcasm.

Wed, 01/19/2011 - 16:30 | 888018 goldmiddelfinger
goldmiddelfinger's picture

One wouldn't think they could sangbag forecasts 16 quarters in a row and people would still fall for the earnings "Beat" either.

Wed, 01/19/2011 - 16:25 | 888006 Cdad
Cdad's picture

Shares in the world's largest zombie maker are, as of yesterday, free and fair game for good Whack-a-mole fun...with one caveat.  Expect volatility ahead of expiration.

All one needs to understand are two immutable facts.  First, the volume yesterday and today represents upside exhaustion on the stock.  Second, it is highly likely that Steve Jobs will not be returning to duty...[never mind the new narrative from criminal syndicate Wall Street bankers that he is not important for the company's future...which is simply ridiculous.]


Wed, 01/19/2011 - 16:10 | 887954 centerline
centerline's picture

It's merely a demonstration of his awesome power to .....   oops, my 15 minutes are up.  Thinking of naked chicks now....

Wed, 01/19/2011 - 16:17 | 887981 Gubbmint Cheese
Gubbmint Cheese's picture

god damn it centerline.. you owe me a new keyboard.

Wed, 01/19/2011 - 16:11 | 887958 Cleanclog
Cleanclog's picture

Selling stocks for food!  And the wealth effect goes "poof".  

Wed, 01/19/2011 - 16:12 | 887960 thepigman
thepigman's picture

C'mon, no more high beta POS going

to the moon? This cannot be the America

I know.

Wed, 01/19/2011 - 16:13 | 887966 thepigman
thepigman's picture

Back up the truck.

The bernank has studied

the Depression.

Wed, 01/19/2011 - 16:12 | 887961 ReeferMac
ReeferMac's picture

If you fucking people would just listen to the motherfucking cartoons and buy this god damned fucking dip, everything would be just fine.



- Benny

Wed, 01/19/2011 - 16:13 | 887962 Cleanclog
Cleanclog's picture

Tap tap tap, down goes BAC and GS.  PMs anyone?

Wed, 01/19/2011 - 16:35 | 888039 Cleanclog
Cleanclog's picture

Now Citi at $4.75.

Wed, 01/19/2011 - 16:55 | 888131 Sudden Debt
Sudden Debt's picture

Beautifull he :)

Wed, 01/19/2011 - 16:13 | 887965 Comrade de Chaos
Comrade de Chaos's picture

The question is, will there be a chain reaction in Japan & China or not. 

p.s. Whoever panics (or otherwise) the first, loses the least. 

Wed, 01/19/2011 - 16:14 | 887968 thepigman
thepigman's picture

Key opportunity to be

patriotic and load up on


Wed, 01/19/2011 - 16:21 | 887994 ThreeTrees
ThreeTrees's picture

What's with the haikus?

Wed, 01/19/2011 - 16:16 | 887970 bob_dabolina
bob_dabolina's picture

Commodities holding strong...hes gona have to puusssshhhhhh deeeeeppppeeerr

Sugar, cotton, rice still green.

Wed, 01/19/2011 - 16:15 | 887971 AR15AU
AR15AU's picture

SEC raiding Waddell & Reed in 3...2...1...

Wed, 01/19/2011 - 16:15 | 887972 Tic tock
Tic tock's picture

..just three days ago I said to myself, 'enough is enuff, maybe I should try buying'

Wed, 01/19/2011 - 16:15 | 887973 AccreditedEYE
AccreditedEYE's picture

this can only indicate that the Bernank is finally starting to get concerned about those food riots he has been reading all about in assorted fringe blogs.

I don't know Tyler, I mean we do have 45 min to go. Frosty-Sack has pulled some insane stick saves in the past....

Wed, 01/19/2011 - 16:15 | 887975 goldmiddelfinger
goldmiddelfinger's picture

Minus 34 is biggest drop in DOW since NOVEMBER 20, 2010 !!!

Wed, 01/19/2011 - 16:18 | 887987 Dr. Richard Head
Dr. Richard Head's picture

You mean biggest BUYING OPPORTUNITY in the DOW since November 20, 2010.  If it dips you buy.  If it goes higher you buy.  If it trades sideways you buy. Remember, the Ben Bernanke put can never fail.   /sarc

Wed, 01/19/2011 - 16:22 | 887997 rubearish10
rubearish10's picture

How insane is that statistic? Unfortunately, this barely wakes me up from a "Zombie" trance. Message to the Gods, please provide a deeper downturn se we could stop praying..

Wed, 01/19/2011 - 16:16 | 887977 IdiotInvestor2
IdiotInvestor2's picture

Bernanke worried about Food riots ?? What are you smoking Tyler ? Nobility does not worry about peasants. He is probably worried about GS’s profit drop more.

Wed, 01/19/2011 - 17:23 | 888281 Freddie
Freddie's picture

I think Tyler sits in his fortress office all day counting his gold bars and silver ingots while cashing those banner ad checks.

Wed, 01/19/2011 - 16:16 | 887978 Cleanclog
Cleanclog's picture

Maria Bart on CNBC keeping a very calm, slow for her, voice.  Instructed to keep us unrattled.

Wed, 01/19/2011 - 16:31 | 888025 SheepDog-One
SheepDog-One's picture

Poor Maria B, best days 10 years ago at least.

Wed, 01/19/2011 - 16:43 | 888075 goldmiddelfinger
goldmiddelfinger's picture

Ahh, the ole mafia moll. I miss her. Does her face still look like it stopped a runaway Rhino?

Wed, 01/19/2011 - 16:16 | 887979 Cursive
Cursive's picture

In other news, Harry Wanger was found hung by his testicles In the stock room of a Detriot area Restoration Hardware store.

Wed, 01/19/2011 - 16:18 | 887988 AccreditedEYE
AccreditedEYE's picture

+1 LOL

Wed, 01/19/2011 - 16:20 | 887993 TriggerFinger
TriggerFinger's picture

he said his finger was near the sell button . . .

Wed, 01/19/2011 - 16:26 | 888009 HarryWanger
HarryWanger's picture

I'm right here. A 1% drop on SPX is meaningless. Like I said, expect 3-4% pull back before the next big leg up. 

FWIW: I own two large positions in AAPL and PCLN, both of which are doing very well for me. My largest holdings by far are PMs. I've stated this several times on this forum for a long, long time.

Wed, 01/19/2011 - 16:29 | 888017 SheepDog-One
SheepDog-One's picture

No, you didnt say that, you just said 2 hours ago the SP wouldnt go lower than 1284 and would end even for the day.

Wed, 01/19/2011 - 16:31 | 888026 slow_roast
slow_roast's picture


Wed, 01/19/2011 - 16:34 | 888038 Cursive
Cursive's picture


SDO called your lying ass out. You are the worst of humankind, Prof. K. Fuck you and your leather elbow patch sports coat you walked in with.

Wed, 01/19/2011 - 16:40 | 888057 HarryWanger
HarryWanger's picture

I thought we would end -2 to flat today. But I have been saying that once we get to 1300, or close to it, we would see a shallow 3-4% pullback. It's all right on this forum. So it appears this may be the beginning of that 3-4% - we'll see. Worst case, SPX goes to 1250 where it will be met with tons of buyers.

Wed, 01/19/2011 - 17:02 | 888169 Cursive
Cursive's picture


Tons of buyers? You are dancing on the blade of Bernanke's Put. Any bounce will be the result of of a relative handful of buyers expecting the USG to have their back and short covering at fib and reaistance levels.

Wed, 01/19/2011 - 16:42 | 888064 A Man without Q...
A Man without Qualities's picture

Yesterday you said you sold your Apple position before the earning release....

Wed, 01/19/2011 - 16:44 | 888077 HarryWanger
HarryWanger's picture

No. I said on Monday, that the AAPL dip on that would come on the Jobs news would be a great buying opportunity. I did not sell my shares and never said that. Sorry to burst your bubble.

Wed, 01/19/2011 - 16:53 | 888119 A Man without Q...
A Man without Qualities's picture

Sorry, just saw that was one of your impersonators.  Sometimes it's not obvious when to tell... 

Wed, 01/19/2011 - 16:48 | 888097 homersimpson
homersimpson's picture

I'm sure APPL lover here would love to recite his love for YHOO during it's freefall..

In other words, a broken clock is right twice a day.

Wed, 01/19/2011 - 16:53 | 888117 HarryWanger
HarryWanger's picture

Never owned a share of YHOO in my life, if you're referring to me as the "AAPL lover".

Wed, 01/19/2011 - 18:19 | 888514 cramers_tears
cramers_tears's picture

I have a wonderful Put/Short Trigger for AAPL.  Set up a Google Alert for ~"Steve Jobs" Health~  Anytime you see something w/ the word Health within 2 words of the words "Steve Jobs" - GO SHORT! 


Wed, 01/19/2011 - 18:35 | 888570 LooseLee
LooseLee's picture

"My largest holdings by far are PMs." 


Hard to believe from someone who supports everything that is antithesis to what PM holders believe.

Wed, 01/19/2011 - 19:08 | 888681 reading
reading's picture

Harry, you said yesterday you sold your aapl before the announcement... did you buy the top?  Cause you said yesterday afternoon (once it opened at the high and started back down) that you didn't own it...

Wed, 01/19/2011 - 16:17 | 887985 ruffian
ruffian's picture

$ can barely get off its ass with this selloff and the precious doesn't want to go down anymore....anyone want to sell their gold.....anyone?

Wed, 01/19/2011 - 16:22 | 887998 goldmiddelfinger
goldmiddelfinger's picture

Commodity shares being hammered on the anvil of pain. Here! Hold these MOS shares. I'll return Tuesday.

Wed, 01/19/2011 - 16:18 | 887989 anony
anony's picture

Once he saw that "Can I haz cheeseburger" raised $30Million in new funding, he knew that the speculative bubble had reached maximum expansion.

But I'm BTFD.

Wed, 01/19/2011 - 16:21 | 887996 thepigman
thepigman's picture

Buy the fucking fraud. I guarantee it.

Ben Bernank

Wed, 01/19/2011 - 16:23 | 888002 SDRII
SDRII's picture

could be worse; we could be Japan


Wed, 01/19/2011 - 16:23 | 888004 erik
erik's picture

Tight top side of the down trend line for the last hour or so.  If it breaks then dip buying will probably commence.

Wed, 01/19/2011 - 16:27 | 888008 Cheesy Bastard
Cheesy Bastard's picture

I will stay in In denial.  It's hard to type with my computer screen sideways, though.

Wed, 01/19/2011 - 16:28 | 888012 SheepDog-One
SheepDog-One's picture

R2K is down WTF? DO OVER!

Wed, 01/19/2011 - 16:30 | 888023 irishlink
irishlink's picture

Should have bought the TVIX this morning, UP almost 15% as we speak. wow it just might pay to be contranian.

Wed, 01/19/2011 - 16:33 | 888033 goldmiddelfinger
goldmiddelfinger's picture

Red Alert Red Alert get the PPT outta the Obama-Who love fest immediately! There's a red equity index gurgling 30 pixels of disinflation.

Wed, 01/19/2011 - 16:34 | 888037 mynhair
mynhair's picture

WTF?  FAZ up .55?

Which planet am I on?

Wed, 01/19/2011 - 16:36 | 888045 goldmiddelfinger
goldmiddelfinger's picture

Bulls and Bugs- Relax !! Cramer's in da house!!


Jim Cramer
Don't Sweat the Banks
11:12 AM EST
EPS isn't everything here -- and these companies are... More 

Jim Cramer
Go for Gold 9:31 AM EST
This 'bubble' talk is silly -- it's all about... More 

Wed, 01/19/2011 - 16:36 | 888047 bunkermeatheadp...
bunkermeatheadprogeny's picture

Wish I had said it earlier, there appears to be a run on bank stocks. FAZ up well over 6% today.


Voluntary dismissals en masse in foreclosure cases reported earlier:

Wed, 01/19/2011 - 16:40 | 888058 fuu
fuu's picture

What is deflating right now?

The Ben Bernank.

The William Dudley.

The American People.

The Change.

Wed, 01/19/2011 - 16:41 | 888061 mynhair
mynhair's picture

Help me POMO-wan, you're my only hope!

Wed, 01/19/2011 - 16:41 | 888062 Bill Lumbergh
Bill Lumbergh's picture

How pathetic it has become that a 1% down day now feels like the start of something cataclysmic...our brains have been trained to expect nothing but up days until the day we die.

Wed, 01/19/2011 - 16:44 | 888078 AccreditedEYE
AccreditedEYE's picture


Wed, 01/19/2011 - 16:48 | 888093 HarryWanger
HarryWanger's picture

It's rather funny. Just like the mini "flash crash" a few days ago when SPX dropped 7 pts. in a minute. You'd have thought the world ended around here. 

1% is nothing. We'll see more soon. Like I said, a total of 3-4% pullback worst case scenario. Puts us at 1250 SPX and creates a great buying opp.

Wed, 01/19/2011 - 16:51 | 888109 homersimpson
homersimpson's picture

"Like I said, a total of 3-4% pullback worst case scenario."

Like you're going to foot the bill when you're wrong.. Y'know - when you were in fine form in May 09.

Thu, 01/20/2011 - 02:31 | 889344 wretch
wretch's picture

The problem, Harry, which is demonstrated daily in the ZH commentary section, is that most of the world believes a 1% spells doom.  They can't all be Wangers.  Amen.

Wed, 01/19/2011 - 16:45 | 888084 goldmiddelfinger
goldmiddelfinger's picture

S+P close down 14 would be biggest daily loss since Novemebr 23

Wed, 01/19/2011 - 16:47 | 888089 irishlink
irishlink's picture

OH so true. I'm almost dizzy with excitement! Poor Maria is trying so hard to find something positive in all this. She is out of practise and it is showing. 

Wed, 01/19/2011 - 16:49 | 888100 mynhair
mynhair's picture

Barfilomo is a skank.  Save your brain; turn off the TV.

Wed, 01/19/2011 - 17:34 | 888338 bunkermeatheadp...
bunkermeatheadprogeny's picture

Maria Blow Blow is wearing a TRIPLE cum catching scarf, ascot, IDKNWTF.


She must have a meeting tonight with some cumcast execs.

Wed, 01/19/2011 - 16:53 | 888116 thepigman
thepigman's picture

She can't bring herself to say manipulated


Wed, 01/19/2011 - 16:55 | 888134 thepigman
thepigman's picture

Not like her hubby doesn't tell her

every day. lol

Wed, 01/19/2011 - 16:55 | 888129 Caviar Emptor
Caviar Emptor's picture

Where are the dip buyers?? Help! Help!

Wed, 01/19/2011 - 16:55 | 888136 Caviar Emptor
Caviar Emptor's picture

"I'm melting! I'm melting!"

Wed, 01/19/2011 - 16:57 | 888148 mynhair
mynhair's picture

Here come the last second big buys....

Wed, 01/19/2011 - 17:07 | 888188 monopoly
monopoly's picture

Ahh Tyler, you are too much. As is Sudden Debt. And Cramer, he is as worthless and Lloyd. TWM nice for a change. Thought they might delist it do to lack of interest.

Wed, 01/19/2011 - 17:19 | 888253 Nonsense
Nonsense's picture

China expressed previously that it's not too happy with Quantitative Easing.  QE is Bernanke's way of handing free loans to the banks to speculate with.   

Today Hu meets with Obama and Goldman Sack stocks are down on "reduced profits"?    With the assumption that the Algos are not broken, it's probably safe to say that the traders didn't get their allowance today. 

Wondering if Goldman Sachs betted against itself.

Wed, 01/19/2011 - 17:31 | 888320 sunny
sunny's picture

In case you didn't notice, the BDI is continuing its slide down.  I'm sure that means something important to someone.


Wed, 01/19/2011 - 17:31 | 888323 jeffca
jeffca's picture


Wed, 01/19/2011 - 18:35 | 888572 Cash_is_Trash
Cash_is_Trash's picture

Buy the financial RAPE!

Wed, 01/19/2011 - 19:14 | 888700 JW n FL
JW n FL's picture


Wed, 01/19/2011 - 21:32 | 888923 Pure Evil
Pure Evil's picture

Boy Tyler, you're sure being generous today.

I thought the countries attention span was the length of time it took to masterbate to tranny porn in Mary Shapiro's SEC office.

You know, she could help speed the process along if she just used a penis pump.

Wed, 01/19/2011 - 22:05 | 889034 Buck Johnson
Buck Johnson's picture

The end game is approaching and they are running out of tricks to use.

Thu, 01/20/2011 - 02:15 | 889332 sellstop
sellstop's picture

Not that long ago, when the markets were going up, Maria B giggled on camera. I sent them a note saying it was time to sell because Maria giggled. It WAS a top for awhile.....

Thu, 01/20/2011 - 04:01 | 889398 oh_bama
oh_bama's picture


Thu, 01/20/2011 - 09:08 | 889549 YHC-FTSE
YHC-FTSE's picture

Put my neck out and say that I think this is real. Russell 2-3k represents over 95% of all equities in the US., and in line with main st. USA, the murmurs are that many are in trouble. So, I wouldn't BTFD - it's not much of a dip anyway relative to one year's growth. Of course as with the DOW, it can always be pumped up by the nutjobs running the Fed, but at the risk of getting it completely, utterly, massively, wrong, I wouldn't react to this info with a barge pole.

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