Like it or not, human will - and a hell of a lot of financial chicanery - has created this bull market. Powerful people, not duly elected but rather appointed, are continuing to degrade the peoples' money in the interest of keeping the system moving forward.
Here is the S&P 500 shown establishing a new technical objective (hey, it's TA and it does not care about right and wrong) after hitting our long-standing target of 1460. I had no clue why SPX was targeting 1460 other than the election cycle that NFTRH followed all summer. But now I (and you) have a clue, thanks to the DML (Dear Monetary Leader) following up his Jawbone with action - very inflationary action.
When the inevitable politics of the ever-increasing divide between the have's and the used-to-have's crop up people should remember the massive and open ended asset bailout that was just kicked in. Here I have got to tip the hat to papa Gold Bug Jim Sinclair who, for all the misery he takes was right on with his ongoing 'QE to infinity' mantra. This is the mechanics of why some are enriched and some are disenfranchised.
The only time I have a problem with the 'QE to infinity' stuff by the way is when it causes people to hang on during those extended phases when deflation is the greater threat. You know, the times like over the last year when the inflation gun was being reloaded?
It appears that Mitt Romney spit in the eye of the monetary gods when he tried to politicize the Fed and announced Bernanke's probable ouster by a would-be Romney administration. The Fed showed him a thing or two about politics, didn't it?
Imagine the S&P 500 in a strong cyclical bull market, the economy lukewarm but not in crisis (on the surface, anyway) and still the Fed goes open ended and all in. This is precedent setting and this could well be the last play of the current system because if a massive asset bubble results from this there will probably be no coming back from the eventual crash.