In just one month, St.Louis Fed President Jim Bullard has eviscerated what little credibility he had with his desperate pleadings to the Dow-Data-Dependent Federal Reserve gods.... today we find out that there is "no need for more QE for now, the economy is in good shape" and 1400 Dow points higher than when it was crucial to "delay the end of QE." What is more worrying is the fact that in the last 2 weeks of total market melt-up since Bullard spoke, earnings outlooks for Q4 have collapsed and macro data has done nothing but disappoint.
[5]
