As we earlier noted, there are numerous reasons that a taper should not occur [3] (despite the protestations of so many sell-side economists that the economy is recovering... or about to). The following chart perhaps sums up best just how bad the real situation is... In light of this - if Bernanke tapers, is it not clear that The Fed is admitting it is cornered (for the four reasons we explained previously [3]).
[4]
This is the recovery that the Fed's mandate has nailed?...
Chart: Diapason Commodities' Sean Corrigan