Complacency In The Markets

The markets are way too complacent again as evidenced by the lack of reaction to the discount rate rise. People must not realize that this decreases the income of the banks they were making from the spread between treasuries and the discount window, by a big amount. People, also, do not realize this is more of a political issue than anything else. The Fed and Bernanke did not come up with this idea. This was something forced onto them and they had to budge or the Fed will be audited or there will be harsher punishments. People do not realize it because let's face it, most market players watch CNBC and there is a bunch of annoying brainless humanoids on that channel that are only cheerleaders and do not have the capacity to think or evaluate things for what they are. And even when they are told the reality, they'd rather not tell that because it might hurt their personal portfolios that is filled with insider information ridden investments if you dug deep enough to figure that out.

This market is doomed. It is bound to crash badly in due time. Possibly very soon.