Bernanke's taper talk is his attempt at managing the bubble: The Fed is riding a tiger: thrilling until you try to get off.
Everything in the financial world since shortly after QE3 has everything to do with either Japan, China or Europe and nothing to do with the almighty Fed.
What happens to the value of currency in a region where only inflow is allowed?
We need to push risk back to the banks.
Crisis perfectly illustrates euro experiment lunacy.
Tier-1 cities will hold up well, while over-built Tier-2 and -3 cities have gone bust or will but who cares.
The yen could be poised for further devaluation, but not for the optimistic reasons underlying recent trading.
Along with the Bernanke Put, there's now the Bernanke Call, an upper limit on economic growth.
Bank of Japan's plans for QE carry some significant caveats that could scuttle implementation.
While short-term, stock-specific moves will be dictated by earnings, debt-ceiling talks on the horizon could provide a rude awakening.